Pete Spencer

After months of preperation we have finaly done it, opened the doors for property management. Below are our goals and the services we will be providing to property owners.

Property management services

Goal

Provide management services helping property owners maximize profits and minimize expenses while reducing ownership involvement.

-Tenant acquisition through traditional print media, Internet exposure, on site signage, and MLS cooperation.

Web site advertising with SEO (search engine optimization)

Web site syndication for all listings to achieve maximum exposure

Compensation to other REALTORS for procuring tenants

-Tenant pre qualification through employment and income verification, tri merge credit reporting, and verification of references.

Third party provider qualifying all tenants

Online application for convenience of users

-Provide legally binding lease agreement and state required disclosures, with terms approved by property owners and enforcement by property managers

MAR approved forms ensure all legal requirements are covered and E and O expenses are minimized.

-Tenant point of contact for maintenance issues, rent payments, and other related issues.

Online portal for tenants to make rent payments, maintenance requests, or to receive other relevant information.

-Collection and eviction services within the confines of Missouri state law.

Aggressive pursuit of past due rents

Enforced late fee structure

No nonsense eviction policy

-Monthly disbursement to property owners with full accounting for all fees, maintenance costs, and pro-rations.

Online portal for property owners to check rental account status

View actual uploaded invoices for repairs

Monthly reporting provided via mail, online, and e-mail

-Escrow account management for deposits.

-Rental payment options for tenants through on site receipt, allotment, ACH checking draws, credit cards, and paypal.

Online portal allows renters to access and pay any time day or night

Access available for all tenants at our office

This report pertains to residential homes on less than 10 acres sold from March 13th to May 7th as reported by the Lebanon Board of Realtors MLS.

In the last 7 weeks there were 33 homes sold for a total of almost 3 million. The average price of these homes was almost 91 thousand and the median price at 73K these homes had an average time on the market of 182 days. There are currently 12 homes listed as under contract in the Lebanon MLS and those homes have an average price of 99 thousand.

Year to date there have been 63 homes sold, down from last years 87 during the same time frame the average price is up to over 106 thousand dollars compared to last years 100K, the YTD volume of almost 6.7 million is down from last years 8.7 million. Our average time on the market this year has been 165 days, that's drastically up from last years 147 day average.

As of this morning there were 340 homes in Laclede County with less than 10 acres, listed with the Lebanon MLS. The average asking price is over $144,000 with median asking price of just about $120,000; these homes have an average time on the market of 170 days.

This report pertains to residential homes on less than 10 acres sold from Jan 1st to March 12th as reported by the Lebanon Board of Realtors MLS.

In the first 2 ½ months this year there were 28 homes sold for a total of just over 3.4 million. The average price of these homes was almost 122 thousand and the median price at 96K these homes had an average time on the market of 150 days. There are currently 11 homes listed as under contract in the Lebanon MLS and those homes have an average price of 65 thousand.

Year to date the 28 homes sold is, just over half of last years 48 during the same time frame, the average price is just over

122 thousand dollars way up from last years 109K; the YTD volume of 3.4 million is under last years 5.4 million. Our average time on the market this year of 150 days is similar to last years 157 day average.

As of this morning there were 333 homes with less than 10 acres, listed with the Lebanon MLS compared to 350 last year in the same week. The average asking price is 145 with median asking price of just about 120; these homes have an average time on the market of 170 days.

Well the big stories this year have so far have been about how to stimulate the economy, and what I pay closest attention to is how to stimulate the real estate market. No one can predict the future but there is good indication that those qualified and needing a home will buy this year. Prices nationwide are down drastically, and locally prices are down as well. With the 8000 tax credit for 1^st time buyers and extremely low mortgage rates there has never been a better time to buy. Many consumers don't understand how the 8000 tax credit works, well here is an overview; If you have not owned a home as your primary residence in the last 3 years you may be considered a first time home buyers. The tax credit is equal to 10% of amount you buy your home for or a maximum of 8000 dollars. Unlike a tax deduction a tax credit is applied directly to you tax liability so you will most likely be entitled to receive the entire amount in cash come tax time. Unlike last years tax credit you are not required to pay this money back but you do need to live in the home you purchased for at least 3 years. As with any big financial decision you should consult your accountant to determine how this credit will effect your individual situation.

2008 year end Real Estate Market Report for Lebanon and Laclede County This report pertains to residential homes on less than 10 acres sold in Laclede County between January 1 2008 and December 31 2008 as reported by the Lebanon Board of Realtors MLS.

The totals number of homes sold on less than 10 acres in 2008 was 250, those homes sold for a total of just around 27.7 million, that was down 24% from 2007's 328 homes that sold for a little over 38 million. 2008 was 41% below the all time high of 424 sold units in 2005.

The average price for homes sold on less than 10 acres was almost $111,000 with a median price of almost $99,000. This average was down 4% from 07's 116,000 and the median price had a 9% drop from 109,000 in 07.

The average number of days on the market for sold homes in 08 was 137 days. Close to the same from 2007's 139 days.

The list price to sale price ratio for these sold homes was 95% with an average of just over $6100 negotiated off the asking price. In 07 sellers had similar results @ 95% and close to 6000 average negotiation.

As of January 8th 2009 there were 335 homes on the market in Laclede County with less than 10 acres listed with the Lebanon MLS, that is a 4% increase over January of last year. The average asking price is almost $139,000 and a median asking price of just about $115,000; these homes have an average time on the market of 160 days.

Total units sold per month by year

Real Estate for 2009 looks as if it will still be touch and go. There are a lot of unknown factors and a new untested administration in Washington. We have high hopes for a rebound this year for sellers, but more likely than not it will continue to be a buyers market.

This report pertains to residential homes on less than 10 acres sold from Nov 14th to Dec 11th as reported by the Lebanon Board of Realtors MLS.

Over the last 4 weeks there were 9 homes sold for a total of just under 900 thousand. The average price of these homes was 100 thousand with the median price at 87; these homes had an average time on the market of 155 days. There are currently 7 homes listed as under contract in the Lebanon MLS and those homes have an average price of 77,000.

Year to date there have been 241 homes sold, that's down from last years 313 during the same time frame, the average price is 112,000 thousand dollars, which is just under 117 for 2007.the YTD volume of 27 million is under last years 36.8 million. Our average time on the market this year has been 137 days, that's below last years 142 day average.

As of this morning there were 373 homes with less than 10 acres, listed with the Lebanon MLS compared to 352 last year in the same week. The average asking price is 143k with median asking price of just about 115; these homes have an average time on the market of 156 days.

Well it seems winter is here which usually reminds all of us to look around our homes and winterize. Here are a few thing to look at this weekend before the snow really flies. Cover or insulate your outdoor spigots so they don't freeze and break, it just takes a minute but will prevent a costly repair later. Seal up those pesky air leaks around your doors and windows. Buy some door and window caulking and just get it done, you will notice the difference when the cold wind starts to howl outside. Seal up cracks in your driveway and sidewalk, these areas become much worse in winter when water freezes and thaws in those cracks, breaking apart the concrete even worse. Check for overhanging tree limbs near your home or power lines. When those limbs get a load of snow or ice on them they are likely to break and fall on your house or take out a power line. And most important, get out this weekend and enjoy what is likely one of the last warm weekends for a while.