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Friday, May 16, 2008

When will the worm turn???

Let me first say, I appreciate all of you that have been checking out my website! I appreciate the compliments and hope that we will ALL have positive transactions soon!!!
Please do not hesitate to post a question that you have, whether it be about property or just the real estate industry in general. You can bet that if you have that question, there's a zillion others that would like to know the answer as well!

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There have been 3 properties recently listed and within days........yes just a day or two.........have been put under contract. Of course they were at awesome deals, not steals, just really good deals. The point is there are buyers out there and they are ready to buy. If a seller wants to sell a property in this market it better be priced right!!!

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I have some interesting statistics comparing Jan-May 2007 to this year so far.
By May 1 of 2007 we sold 49 homes , only 27 this year. The interesting part is that the average sale price in 2007 was $379,791. This year, $502,923. We were selling properties at 94% of their asking prices in 2007. This year, we are averaging 83% of the asking price.

The lesson: Don't let those asking prices scare you----MAKE AN OFFER. Unless it is an unusual and one of a kind property, there is going to be one of the 90 zillion other sellers willing to take what you are willing to pay!!

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I did have an offer the other day on a property, a very, very low offer. The sellers weren't even willing to consider it and make a counter offer. The buyer's response was "I guess they don't have to make any money". This particular seller is not motivated to sell for much less than her asking price. She would probably take that 83% as stated above, but this offer was much lower than that. Not every seller out there is desperate! There are a lot of them, no doubt, but personally, I believe our prices are coming down enough that you don't have to try to steal something, just make a reasonable offer.

I've been preaching this for months now----if you are an end user, a person wishing to buy a place to USE, or to later build on then you need to be seriously looking. If you are looking to just invest for the next 5 years, then you need to be seriously looking. Everybody needs to get their financing ducks in a row.
If you are looking to buy and resell in the next year.............................you have to wait for a steal. Godspeed.

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I send out emails on what I consider good deals. If you are not on my list, send me a quick email and I'll add you.
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AN IMPORTANT DISCLOSURE**** If you signed up for my monthly mailers, I have already sent you a response email asking a few basic questions. If you don't respond to my initial email, I may not continue to email you because I am afraid that you may be a "fraud" emailer.
So I please ask you to just respond to my intial email answering some basic questions so that I know what you are looking for. Even if you are not looking to buy for the next 5 years, at least let me know you are alive, well, and wanting information! I Thank you in advance.
I know that most of you are not on the internet 24/7 like I am, but please, just let me know you are at least still interested.

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Well, we have had a lot of rain today! Thank you Lord!

Have a great weekend and ..................don't forget to go to church this Sunday.

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Quit griping about your church; if it was perfect, you couldn't belong!

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