Absorption rates sound more like a measure of how well a paper towel soaks up a mess, than a valuable piece of information as applied to real estate pricing. With real estate, simply stated, the absorption rate is the ability of the market to sell off all of the houses for that price range or geographical area. Let's use the example below:
Subdivision A has 50 homes on the market for sale. Your real estate agent has studied the market and observed an average of 5 homes sell every month. At this rate, it would take 10 months for all homes to sell. In our local Murfreesboro area, there are 1,553 properties for sale with sales last month of 224 homes. 1,553/224=6.93 absorption rate.
Ok, so what does that mean to me as a home seller you ask? These figures are important to know for your local area as this is an indicator of length of time for your home to sell. Of course there are many other aspects to consider such as condition, location, neighboring properties, etc. But all other aspects being equal, this would indicate if you need to sell your home faster, it would need to be priced better than your competition.
For an analysis of your local area, be sure to contact your real estate professional or you may contact me for an agent in your area.
In today's market, there have been many short sales. However, this term has been misunderstood by consumers. Most people think a short sale is a great "steal of a deal". While this may be true in certain cases, there are things you should know.
Short sales are nothing more than a seller of a property owing more money to the lender than the home is currently valued my the market conditions. In approved cases, the lender has agreed to accept less for the property than what the seller owes. What does that mean? Well, most importantly it means the price is determined by market conditions. Ironically, this is the same way most homes are valued.
That being said, there are deals to be had. The wealth of information available on the internet allows most consumers to determine the correct pricing for a home. However, there are several factors that need to be taken into consideration that my affect the price of a home. Contact a real estate professional todayto have an in-depth, cost analysis completed with no obligation.
What's that? Still have not taken advantage of the $8,000 tax credit? Not sure who it applies to ? Get answers to all your questions here!
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Helping homeowners and homebuyers achieve their real estate goals while providing first-class service, effective communication.
Communication as defined by Webster's dictionary is "The art and technique of using words effectively to impart information or ideas". In this day of technology there are various methods of communication available to us. Real estate is a service related business. A high degree of success requires a high degree of communication. It is my goal to provide this level of communication throughout your transaction so you are an informed consumer. Hello, my name is Scott Riedel. Thank you for taking a moment to visit my website. I have been a resident in Tennessee since 1991, and have witnessed first hand many changes to the landscape of Middle Tennessee.
In today's ever changing real estate market, it is imperative for Realtors to stay ahead of the marketing curve. Statistics show nearly 90% of consumers go to the internet FIRST when thinking of purchasing a home. When I list a home for sale, I utilize all avaiable technology tools to ensure your home reaches the largest possible audience. Along with my website, I will market your home to over 60 other websites yielding the most traffic possible.
Whether your needs are to sell your home, purchase a different home, or investing in real estate, I encourage you to call on me for all your needs. Don't forget to ask about my FREE Seller's Home Warranty coverage while listed with me! Warranty provided by Old Republic Home Warranties. 
I appreciate your taking time to learn a bit more about me and my services. Serving Middle Tennessee, I specialize in:
Greg M.
You genuinely care about your clients and do an excellent job of displaying that. We look forward to doing all of our business with you in the future.Jim and Lucia Gage
Scott recently handled the sale of our Murfreesboro home. When we first talked to him, the house was not ready to be listed, as we were painting and updating. Scott kept in touch from time to time, always kind a paitient.
When it was time to list the house, we met with him for the first time. We asked a lot of questions, about his experience and philosophy, and he answered very openly. We felt comfortable and confident that he would take good care of us. And he did. Every step of the way, we were informed, or consulted, updated and reassured. Within 5 weeks, we had a good offer. He had priced the house just right.
Closing went exactly as he had explained it and we came away feeling great. Soctt was the person at the end of the sale that he told us he was when we first met him. Integrit means alot to us and we could not have been more pleased.
Jim and Lucia
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