Happy 2013 to all! After a crazy year of putting a team together at the office, growing my business, putting out fires every single day in the real estate world, being a mom to three busy kids and a wife to my husband, I have re-committed myself to getting back to my blog. Expect to read more about the Geneva real-estate market, its’ trials & tribulations, an occasional rant, and, I suppose, a few observations perhaps. It is my hope that you will subscribe to this blog, share it with others and enjoy it.
We local Realtors have high hopes for a good year coming up. 2012 left us winded and out of breath, for good reason. The market seemed to be busier for all. There were 334 single family Geneva homes closed through the MLS in 2012. All said and told, it amounted to exactly $112,637,470 in home sales. When you pause for a moment to think of all of the folks that are associated with a real estate transaction (attorneys, home inspectors, radon testers, loan officers, Realtors, moving companies, utility companies, school districts, salesmen from Lowes & Home Depot, relocation companies) you will soon see that a busy real estate market can really stimulate a local economy.
After taking a few days to analyze the data from the sale of Geneva homes in 2012, here’s what I have to offer up in the way of analysis:
- Out of 334 sales of single family homes, 77 were distressed sales (distressed= court ordered, foreclosures, or short sales) 77 out of 334 equals 23%!! YIKES!! That number makes me sad and gives me a stomach-ache. Too many of our neighbors and fellow community members are losing their homes, still.
- The lowest priced home that closed in Geneva sold for $54,100
- The highest priced closing in Geneva was $850,000
- 57 homes closed for less than $200,000! There were some pretty great bargains in that category.(If you are in the market for an income property or a small rental, now would be the time to get off the fence and get your checkbook out!)
- As of 7 pm on January 7, there are 125 active properties on the market in Geneva. The lowest price on the market at this time is $100,000. The highest price on the market is $1,250,000.
As far as the year went, it was rough. There are still hiccups in the short-sale process. That system is getting better each month, but it’s still not good. The foreclosure process is still a horrific scare for any homeowner going through it. I have seen senior citizens go through it, investors go through it, and young families go through it. In a word, it is awful. There’s no more to say.
So, there it is, in a nutshell. If you are in need of more in-depth information on our market, please contact me. I am passionate about real estate in Geneva, and I can guarantee that there are very few out there who have seen as much inventory as I have. I’m happy to share my knowledge. Stay tuned in the upcoming days for Teresa’s “Biggest Loser” stories from 2012, the “Mysterious Ways of Realtor Tour Days”, and the “Top 10 BEST WAYS TO NOT SELL YOUR HOME.”
Last, but not least, I will be revealing the identity of Geneva’s Top Realtor for 2012…feel free to leave your guess below!
Until next time,