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Archive for February, 2010

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Real estate postcard cartoon Just an FYI for all of you out there who are using the services of a Realtor right now…… Make sure you choose carefully! Here’s a true tidbit from the trenches……

On Sunday I wrote an offer on a property for some really, really nice buyers that I have been working with. They chose a home that is in “short-sale” position, meaning the sellers are now selling for an amount that will NOT cover what they owe their lender, so they will be “short” of what they owe. In those cases, the lender reviews the contract and all of the financials associated with the file, then the lender decides just  how “short” they are willing to go. So, with all that being said, even a semi-smart person reading this blog could determine that the sellers are probably very stressed and in pretty bad financial straits. RIGHT? Lucky for them, they chose a Realtor who, when I called him on Sunday afternoon to let him know I had an offer for him (buyers are pre-approved for their financing and can close in 30 days!) he said this to me, “call me tomorrow…. I’m going out to get drunk for the Superbowl right now and I’m turning my phone off.” I was beside myself!! The poor sellers had an offer on their house and their own dopey Realtor didn’t even care enough about his responsibility to them or their situation to get this offer on the table and present it. So, it really begs the question…. did you(or will you?) hire a Realtor who is REALLY looking out for the interests of YOU or YOUR FAMILY?? If not, YOU SHOULD!! Until next time,

THINK SOLD!

Teresa Keenan

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Welcome back to Monday Morning Market…. The real-estate world according to Teresa Keenan! Today I am going to switch it up a little…. Instead of analyzing the last 7 days in Geneva, I am providing a “snapshot” of the market for the last 12 months… straight out of the MLS! The numbers are SO COMPELLING! You can literally dissect the price ranges and tell what is selling clearly and consistently vs. what is sitting on the market. If you are currently a seller, or will be in the next 12 months or so, pay close attention to how your home will be positioned in the market. Will it be at the top of a range where there are extended marketing times? Or, could you drop it down and be at the top of a range where it is obvious that more buyers are spending their money? If you need help with these numbers, or assistance with a marketing strategy, please let me know! I would welcome the opportunity to share what's going on in the Geneva real-estate market right now. Until next time,

THINK SOLD!

Teresa Keenan

www.stonetowerproperties.com

 

Under Contract

List Price Range

# Listings

Avg. Days on Mkt

Less than $149,999

1

573

$150,000 – $199,999

1

114

$200,000 – $249,999

3

368

$250,000 – $299,999

10

263

$300,000 – $349,999

2

76

$350,000 – $399,999

4

114

$400,000 – $449,999

5

296

$450,000 – $499,999

2

451

$550,000 – $599,999

1

814

$600,000 – $699,999

1

382

$800,000 – $899,999

1

665

$1,000,000 – $1,999,999

1

595

  

Under Contract Summary

# Units

Avg. MT

Median List Price

Avg. List Price

Max. List Price

Min. List Price

Total Volume

32

308

$329,450

$390,306

$1,275,000

$135,000

$12,489,799

  

Active Listings

List Price Range

# Listings

Avg. Days on Mkt

Less than $149,999

1

67

$150,000 – $199,999

5

103

$200,000 – $249,999

18

192

$250,000 – $299,999

32

165

$300,000 – $349,999

19

216

$350,000 – $399,999

25

244

$400,000 – $449,999

23

183

$450,000 – $499,999

23

247

$500,000 – $549,999

7

175

$550,000 – $599,999

9

339

$600,000 – $699,999

10

187

$700,000 – $799,999

6

301

$800,000 – $899,999

5

83

$900,000 – $999,999

1

74

$1,000,000 – $1,999,999

8

472

  

Active Listings Summary

# Units

Avg. MT

Median List Price

Avg. List Price

Max. List Price

Min. List Price

Total Volume

192

217

$399,800

$451,304

$1,795,000

$139,900

$86,650,348

  

Sold Properties

Sold Price Range

# Listings

Avg. Days on Mkt

Less than $149,999

6

117

$150,000 – $199,999

15

202

$200,000 – $249,999

32

148

$250,000 – $299,999

46

176

$300,000 – $349,999

60

129

$350,000 – $399,999

42

222

$400,000 – $449,999

20

179

$450,000 – $499,999

11

247

$500,000 – $549,999

10

285

$550,000 – $599,999

4

376

$600,000 – $699,999

9

543

$700,000 – $799,999

1

45

$800,000 – $899,999

3

239

$1,000,000 – $1,999,999

1

96

$2,000,000 – $2,999,999

1

409

  

Sold Properties Summary

# Units

Avg. MT

Median Sold Price

Avg. Sold Price

Max. Sold Price

Min. Sold Price

Total Volume

261

193

$321,500

$352,533

$2,708,754

$84,000

$92,011,005

 

 

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