Pete Spencer

This report pertains to residential homes on less than 10 acres sold from Nov 14th to Dec 4th as reported by the Lebanon Board of Realtors MLS.

Over the last 3 weeks there were 8 homes sold for a total of 765 thousand. The average price of these homes was 95 thousand with the median price at 85; these homes had an average time on the market of 162 days. There are currently 7 homes listed as under contract in the Lebanon MLS and those homes have an average price of 89,000.

Year to date there have been 240 homes sold, that's down from last years 305 during the same time frame, the average price is 112,000 thousand dollars, which is just under 116 for 2007.the YTD volume of 26.9 million is under last years 35.5 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 353 last year in the same week. The average asking price is 145k with median asking price of just about 116; these homes have an average time on the market of 153 days.

Well coming up next week on Saturday the 13^th of December Realty Executives hosting an affordable homes and foreclosure tour. Right now there seem to be a lot of people who are uncertain about home ownership and others who want to take advantage of buying bank owned properties. Over about a 3 hour period on Saturday afternoon we plan on visiting 4 homes, 2 of which will be bank owned foreclosures, and while we are at it we will talk about many different subjects, like what to expect when you write an offer on a foreclosure, and what to look for when you buy a vacant home. We also plan on talking about resale, appreciation and equity. In addition to viewing the homes there will be lender there to provide some rent vs buy scenarios, a home inspector to explain the home inspection process and an appraiser to talk about FHA requirements in a home. The Affordable homes and foreclosure tour is a no pressure, fun and educational afternoon centered on answering questions regarding home ownership. We invite those who have never owned but would like to in the next few years, and anyone interested in leaning more about buying real estate. Transportation will be provided but we are limited to just a few people so you will need to sign up by calling the office or visiting our web site.

Affordable Homes and Foreclosure Tour

Date December 13, 2008
Time 1pm - 4 pm

The Affordable homes and foreclosure tour is meant to be a no pressure, fun and educational afternoon centered on answering questions regarding home ownership. We will provide rent v/s buy scenarios, and share tax advantages associated with home ownership. We will have refreshments while we visit 4 homes currently on the market. 2 of these homes will be bank owned foreclosures. We will talk about the advantages and pitfalls associated with buying a bank owned property. There will be a lender, a certified home inspector, and an appraiser on hand to provide education and answer questions. Pete Spencer, Broker/Owner of Realty Executives of Lebanon will be guiding the tour with help from his partner, Broker/Owner Julie Allen, we anticipate everyone will have an enjoyable time.

Itinerary
1:00 Meet at Realty Executives of Lebanon, load the Luxury Shuttle
1:10 Depart for home #1 - Education - Agency relationships
1:20 Arrive at home for viewing and refreshments. A lender will give a short presentation on rent v/s buy scenarios.
150 Depart for home #2 (Foreclosure) - Education - Foreclosure process
2:00 arrive at home for viewing - Education - What to look for in a vacant home
2:20 Depart for home #3 (Foreclosure) - Education - Buying a foreclosure, what to expect
2:30 Arrive at home for viewing - Education - Resale, appreciation, and equity
2:50 Depart for home #4 - Education - The contract and earnest money
3:00 Arrive at home for viewing and desert. A home inspector will give a short presentation on the importance of a home inspection. An appraiser will give a short presentation on FHA/VA/USDA requirements for a home.
3:40 Depart for Realty Executives of Lebanon - Education - What to expect from your REALTOR - Questions and answers
4:00 Arrive Realty Executives of Lebanon - Depart

Sign up for the tour!

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

Over the last week there were 3 homes sold for a total of 276 thousand. The average price of these homes was 92 thousand with the median price at 80; these homes had an average time on the market of 148 days. There are currently 9 homes listed as under contract in the Lebanon MLS and those homes have an average price of 94,000.

Year to date there have been 229 homes sold, that's down from last years 293 during the same time frame, the average price is 113,000 thousand dollars, which is just under 115,500 for 2007.the YTD volume of 25.8 million is under last years 33.8 million. Our average time on the market this year has been 136 days, that's below last years 144 day average.

As of this morning there were 373 homes with less than 10 acres, listed with the Lebanon MLS compared to 374 last year in the same week. The average asking price is 146k with median asking price of just about 121; these homes have an average time on the market of 147 days.

Well with thanksgiving coming up I want to take this opportunity to thank the many people we have had chance to work with this year, for their trust in us and their faith that we could help them accomplish their real estate goals. We have experienced a great year assisting buyers and sellers. We have also had many of our past client refer our services to friends, family and colleges and that more than anything is a compliment we are thankful to receive. We also want to thank all of the members of the Lebanon Board of Realtors, without your willingness to work with us we could never fulfill our goals as we have. Throughout the last year we have had many people express gratitude to us for doing our part to provide quality and accurate real estate information to the residents of Laclede County and we especially want to thank those who have gone out of their way to remind us of why we do this. We do this because we want to be a resource for buyers and sellers so they can accomplish their real estate goals. From all of us at Realty Executives we wish you the best thanksgiving ever, and we hope you take the time to cherish your family and appreciate all that we have in our great country.

This report pertains to residential homes on less than 10 acres sold from Oct 31st to Nov 6th as reported by the Lebanon Board of Realtors MLS.

Over the last week there were 2 homes sold for a total of 119 thousand. The average price of these homes was almost 59 thousand with the median price the same; these homes had an average time on the market of 84 days. There are currently 10 homes listed as under contract in the Lebanon MLS and those homes have an average price of 101,000.

Year to date there have been 225 homes sold, that's down from last years 283 during the same time frame, the average price is 113,700 thousand dollars, which is just under 114,700 for 2007.the YTD volume of 25.5 million is under last years 32.4 million. Our average time on the market this year has been 137 days, that's almost the same as last years 143 day average.

As of this morning there were 368 homes with less than 10 acres, listed with the Lebanon MLS compared to 371 last year in the same week. The average asking price is 148k with median asking price of just about 124; these homes have an average time on the market of 147 days.

Well with the elections over it seems as though some buyers are back in the hunt, activity has definitely increased and lots of people were out looking at homes this week. There seem to be a lot of strong opinions about the recent election results and that only goes to prove that as Americans we are people of freedom and we will continue to have that spirit regardless of the political climate. One of the greatest freedoms Americans have is the freedom to own land, to have property that is yours to do as you please. The freedom to buy low and sell high, or to keep what s yours and build the home of your dreams. Most of the wealth that Americans enjoy comes from land and home ownership. Owning land or just your own home allows you the possibility of creating equity which translates to wealth and leverage, allowing you to capitalize on growth opportunities if you know where to look. There are many ways to make real estate ownership profitable but in all those ways 3 key factors required for success; The first is financial, know where you stand, do you have cash? Will you leverage another property, do you have the capacity to borrow? The second key is to have clearly defined goals. The third and most important is advise, find a trusted advisor who can help you define a goal and find financial solutions to meet that goals. There is no get rich quick sceam in real estate, it takes hard work and perseverance, but in the end, "under all is the land"

This report pertains to residential homes on less than 10 acres sold from Oct 24th to Oct 30th as reported by the Lebanon Board of Realtors MLS.

Over the last week there were 3 homes sold for a total of 173 thousand. The average price of these homes was almost 57 thousand with the median price at 67K; these homes had an average time on the market of 100 days. There are currently 11 homes listed as under contract in the Lebanon MLS and those homes have an average price of 96,000.

Year to date there have been 222 homes sold, that's down from last years 275 during the same time frame, the average price is 114 thousand dollars, which is just under 115 for 2007.the YTD volume of 25.3 million is under last years 31.6 million. Our average time on the market this year has been 137 days, that's almost the same as last years 139 day average.

As of this morning there were 376 homes with less than 10 acres, listed with the Lebanon MLS compared to 374 last year in the same week. The average asking price is 150k with median asking price of just about 124; these homes have an average time on the market of 148 days.

Right now our market is ripe with frustrated sellers who have homes that need to sell, this is good for buyers but bad for sellers. This is also a time where advise and guidance are needed most so here are some tips if you need to sell. Talk to a professional REALTOR, and when I say professional I mean someone who is full time and experienced, not just someone who looks and sounds good, check them out by using google or yahoo and asking them about their history and achievements, talk to someone who knows your market, someone who lives and works in your community, an out of towner will take your business but they can never know the market like your local professional, only a market expert can really help you set an appropriate asking price and stage your home so it will show it's best. Consult someone who is going to spend money marketing your home, give you maximum exposure on the internet, and who knows how to attract buyers and negotiate in your best interests. And most importantly, hire a professional with a good reputation, not just with the public, but a good reputation with other realtors as well. Real Estate is an industry where REALTORS must work well with each other and if they don't you as a seller will suffer, don't expect miracles but do expect your REALTOR to recognize, identify, and inform you of changes in the market.