Pat Argo, CRS

Everywhere I go, people are always asking me "Pat, How's the real estate market doing around here now?" I decided it's time for a real report vs. my humble opinion, but of course I will share some of that with you as well!These stats are gathered from the Brevard MLS system areas 101-210.. Private & builder non-mls sales.excluded.

In 2008: 1^st 6 months: 411 closings with average of 125 Days on Market : High $899.000. Low $32,000. Average: $150,000 Median: $135,000.

In 2009: 1^st 6 months: 533 closings with average 119 Days on Market : High: $745,000. Low:$10,500. Average: $108,000 Median: $92,000.

So what everyone is saying IS partly right. It is taking longer to sell... the ones that closed and the final prices are even lower. To put this into perspective, I did the numbers by price range as well for the same 6 months.

Under $100K $100K> $150K> 200K> 300K> $400K> $500K> 2008: 109 142 80 56 14 3 3 2009: 260 155 56 38 9 1 1

Inventory today is 902 residences priced from $9,900. to $2.5 million, average 193 DOM Actually we have 5 Million $+ listings, all but 1 were on in 2008! Important in the 2009 numbers is that there were less than 50 closed sales prices at $150,000. or more, about a 50% drop! And those closed under $100,000 were more than doubled! (2.38X)

The following information is available to help you decide if this is a good time for you to buy, sell or hold. Here's what that could mean for you! < If you are able to buy, especially if you qualify for the Tax Incentives, you really need to get serious about looking for the right home while the selection is good. < If you are considering selling vs leasing, weigh your options carefully. It may take longer than you are thinking for market recovery. < If you are an Investor, even a first timer, the choices can be outstanding. Figure out your financing options before you make the offer. Cash talks, particularly in condos and lender owned properties. And be prepared to be a bit more liberal with your new tenant prospects because their credit may be bruised. < If you really want or have to sell now, for whatever reason, remember that curb appeal is still important, but pricing right is absolutely King! Be sure to use internet price points to your advantage when you enter the market. Be prepared to help the first time buyers with closing costs since they are prime buyers now. < If you or a family member/friend is a Snowbird, empty nester, or retiring soon, now could be an excellent time to find the next nest before the best ones get picked over. < Regardless of all of the above, there is an important fact I learned back in 1973 when I first started in real estate. "UNDER ALL IS THE LAND." Buying, selling or leasing, the one thing you cannot change is a property's location. That's in Gods hands. You are better off with a smaller place in a nicer area than the best place in a less desirable one. The only thing that "fixes" a poor location is dropped price and owner terms.

A group from our office in Melbourne all piled into a leased van and headed to Tampa Wednesday morning. I so looked forward to this event. And it was wonderful not to have to drive myself! :-) I love that we do things together frequently! We had a great ride and also got to know a few new members and guests better! Hooray! We were also entertained again at the meeting by the awesome accustical guitarist, Billy McLaughlin. Be sure to check him out on YouTube.

When I attended KW Family Reunion in February, I went to an class not on the original program. I took pages of notes and tried to remember everything I heard. Being human, I found gaps in my memory, even with the notes! I was disappointed to find it was not among the recordings later posted on the KWConnect site.

That's OK! I believe it was a prelim to what happened this week. Again I took lots of notes. I came home and outlined a few key steps and important thoughts. Keep in mind that what is important to me, right now, may not be in the same stage for you. Let me share a few with you now...

He talked a bit about SO WHAT HAPPENED. Since I start my 37th year in this field in 6 weeks, it was interesting to hear someone else's point of view from another area than the Space Coast, who also lived through the high interest rates and even higher points from the past. That WAS the year I had just entered management! It helped put some things into perspective. We both had things to smile about.

He talked about people who OVER SPENT and UNDER SAVED. Those who over bought and over paid. Too many got in over their heads. Now we'll all underspend and over save, under borrow and under pay. The economy will begin to move back into alignment. Unfortunately not as quickly as it rose and fell.

The BAR has been RAISED, I/We have the best opportunity now for the biggest professionally defining moment of our lives. We can live AVERAGE (8.2 sides per agent! per NAR) or Live EXTRA. This requires a BIG EFFORT to master success. So what do I have to do to get out of the MIDDLE now?

1. GET REAL by putting a BIG EFFORT into mastery of NEW SKILLS even if I don't like to do them. Lead generation, capture and convert by learning great scripts and dialogues is my #1,

2. GET RIGHT with 6 CORE Real Estate Agent Competencies... including managing money.

3. ONE THING - DISCIPLINE in TIME BLOCKING for SUCCESS in that one main thing... before NOON.

Other Point: Remember that no matter where I go or what I do, the money is in the lead generation. Think clearly about when I say YES to something and be really CLEAR about what I am saying NO to at the same time. When I am avoiding success, I am robbing myself and my family and the ones I care about. Being AVERAGE does not work as well as it used to in real estate (or life!). I need to MOVE FASTER and TRY HARDER in order to get my own UNFAIR SHARE.

Those were the highlights for me. Not exactly Gary's words but my short version of what I needed to hear. I thought about them as we left Tampa after a pleasant dinner and fellowship, arriving home close to 11 PM. I revised them as I wrote them out again the next day. And here I go again. Makes me want to go right out and drive my late husbands '85 classic car. I tend to get a bit heavy footed driving it, but it sure provides muscle and it has less than 38000 miles on it. Maybe that can be a symbol for me... All that unused power there every day just waiting to be put to work! Use it or Lose it!_!

Thank you so very much Gary! And Billy! And Nikki and the entire KW family! I love being a member:- )

Hey, Winter Springs Rainers! I need some information and help for a nice rental in Winter Springs. I have family who will know by the end of the week if they will be relocating here in February. I know a lot of agents do not like rentals. They really want to buy, but will need to sell and also want to get to know the schools and areas first.

They are presently in 4B 2.5b 2G about 2300 SF with familyroom, porch and home office. 2 nice kids and 2 equally nice small poochies. May even consider purchase if it all works out. That will make me very happy to have Grands in Florida again! If you do not "do" rentals, maybe you can recommend someone?

Thanks : - ) I hope I am asking properly as I am a newbie at AR posting!