Thursday, November 1, 2012
Thursday, June 7, 2012
What School District is that Home in Anyway?
I get this question VERY often, and there is a simple solution. What school district is this home in anyway? I mean really everyone wants to know what school their kids will attend if they buy a new home. Some may be targeting specific schools and only want to buy in those areas. Some may want to change schools. even people who do not have kids are often curious because they feel it will be important to the resale and potential future, and sometimes current, value of the home. All of these are legitimate and good reasons, and very important. Visit this link and you can find out what schools any particular listing in Lexington and Fayette County is districted to attend.
Of course these are not warranted by me, as it is a service provided by Fayette County Public Schools and many schools, particularly the new elementary schools in Fayette County fill up, but the alternate schools are listed as well.
(Here is what it looks like on their site)
This site also lists the testing information, schedules, and lots of other information about the schools as well.
If you would rather see it on a map so you do not have to type in a particular address for every property this may help.
- Fayett County School Districts
Thursday, January 5, 2012
Tuesday, January 3, 2012
Distressed Properties Continue to Put Pressure On Home Prices, Latest HousingPulse Finds
Despite solid demand for home purchases overall, a glut of distressed properties is continuing to put downward pressure on home prices, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Distressed properties accounted for a hefty 46.1% of home purchase transactions in November as reported in the HousingPulse Distressed Property Index (DPI), using a three-month rolling average. Significantly, November marked the 23rd month in a row that the DPI has been above 40%.
At the same time, however, homebuyer demand for housing appears surprisingly strong, especially for lower-priced foreclosed properties or real estate owned (REO). Time on market for move-in ready REO was just 10.1 weeks in November, the lowest in 15 months, according to HousingPulse. Time on market for damaged REO was even lower at 9.0 weeks in November, also the lowest in 15 months.
Short sales were the largest segment of the distressed property market during the month of November, accounting for 17.6% of total home purchase transactions tracked in the HousingPulse survey. Move-in ready REO was the next largest group of distressed properties with a 15.2% share, followed by damaged REO with a 13.3% share of total transactions. Non-distressed home purchases accounted for the remaining 53.9% of home purchases in November.
Average pricing for distressed property was substantially lower than for non-distressed property. The average short sale sold for $209,200 in November, while the average move-in ready REO sold for $189,700. Damaged REO sold for far lower at $98,600. At the same time, non-distressed properties sold for $258,900.
Despite solid demand for home purchases overall, a glut of distressed properties is continuing to put downward pressure on home prices, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Distressed properties accounted for a hefty 46.1% of home purchase transactions in November as reported in the HousingPulse Distressed Property Index (DPI), using a three-month rolling average. Significantly, November marked the 23rd month in a row that the DPI has been above 40%.
At the same time, however, homebuyer demand for housing appears surprisingly strong, especially for lower-priced foreclosed properties or real estate owned (REO). Time on market for move-in ready REO was just 10.1 weeks in November, the lowest in 15 months, according to HousingPulse. Time on market for damaged REO was even lower at 9.0 weeks in November, also the lowest in 15 months.
Short sales were the largest segment of the distressed property market during the month of November, accounting for 17.6% of total home purchase transactions tracked in the HousingPulse survey. Move-in ready REO was the next largest group of distressed properties with a 15.2% share, followed by damaged REO with a 13.3% share of total transactions. Non-distressed home purchases accounted for the remaining 53.9% of home purchases in November.
Average pricing for distressed property was substantially lower than for non-distressed property. The average short sale sold for $209,200 in November, while the average move-in ready REO sold for $189,700. Damaged REO sold for far lower at $98,600. At the same time, non-distressed properties sold for $258,900.
| Residential Real Estate Pricing and Commission Metrics | |||||
| Average Sales to Listing Price Ratio | 2011 Year to Date | ||||
| Region | Damaged REO | Move-In Ready REO | Short Sale | Non- Distressed | |
| AZ & NV | 97% | 99% | 95% | 94% | |
| California | 97% | 99% | 96% | 96% | |
| Farmbelt | 89% | 97% | 92% | 95% | |
| Florida | 94% | 97% | 91% | 93% | |
| Industrial Midwest | 92% | 94% | 91% | 94% | |
| Northeast | 93% | 95% | 92% | 94% | |
| Oil Producing | 90% | 97% | 92% | 96% | |
| Pacific NW | 98% | 95% | 96% | 96% | |
| Rocky Mountain | 91% | 96% | 92% | 95% | |
| South | 89% | 95% | 91% | 95% | |
| National Average | 93% | 96% | 93% | 95% | |
| Average Property Price by Region--Year to Date | ||||
| Region | Damaged REO | Move-In Ready REO | Short Sale | Non- Distressed |
| AZ & NV | $120,003 | $170,303 | $173,001 | $247,834 |
| California | $203,618 | $274,488 | $301,190 | $444,699 |
| Farmbelt | $75,646 | $136,991 | $161,036 | $201,224 |
| Florida | $84,488 | $155,823 | $153,236 | $245,320 |
| Industrial Midwest | $60,639 | $113,306 | $136,641 | $204,813 |
| Northeast | $146,411 | $295,458 | $232,080 | $327,816 |
| Oil Producing | $66,851 | $150,284 | $159,930 | $209,096 |
| Pacific NW | $107,134 | $234,574 | $255,663 | $321,266 |
| Rocky Mountain | $149,109 | $171,828 | $191,836 | $246,136 |
| South | $79,779 | $156,464 | $191,169 | $222,129 |
| National Average | $102,149 | $182,687 | $199,718 | $259,661 |
Courtesy Campbell Surveys
Campbell/Inside Mortgage Finance HousingPulse Tracking Survey
It is based on a national survey of more than 2,500 real estate agents each month and provides up-to-date intelligence on home sales and mortgage usage patterns throughout the United States, broken down by region.
______________
Housing Trends Update
Housing Trends Update is published monthly and is available only to real estate agents who are part of the Campbell/Inside Mortgage Finance HousingPulse survey panel.
Copyright © 2011 by Campbell Surveys
www.housingpulse.com
Tuesday, February 22, 2011
The Basics
The Basics
Its funny how lately in real estate, and life for that matter, how complicated things have become. QR Codes, Smart Phones, Text Marketing, Tags, SEO, Dynamic Positioning, Key Words, Robots, Spiders, Organic Optimization, IDX, Listing Sync, Facebook, Twitter, Zillow, Trulia, Google, Ad Words, Pay per Click, click through rate, stickiness, social marketing, 24/7 Instant News Sources ….you get the point.
But what does this all do for us? How does this make what we do for our clients better? After all having a QR code on a listing sign may be cool, but how will it work? Does the buyer driving by have to stop the car on the street, get out of the car, walk into the sellers yard to get close enough to take a picture of the sign? Maybe the picture can be taken from the car, but is that safe?
Is communicating with your Facebook friends and clients violations of Facebook terms, and client confidentiality and potentially violating your fiduciary responsibilities?
Does your personal website or company website and BLOG really warrant the investment in time and energy to compete against the big boys and girls in the industry? I read that our local board website www.LBAR.com was one of the top 30 visited MLS’s in the country this year so far. In a town of less than 300,000 people. Imagine that beating the big boys. But what does that say for me, and the other 2,000 other real estate professionals out there who pen $25-$1,000 a month for websites and all the bells an whistles to market it and get leads? Is it worth it? Or would our time be better spent elsewhere?
Has that paradigm shifted in the market and we are yet to face it? Here is the question I am proposing here. What about the basics?
I venture to say that every professional reading this post will agree, publicly or not is a different issue, that if being 100% honest with yourself you will find the following challenge and proposed theory to be true. Here is the challenge:
Log in to your MLS or black book, day planner, whatever you use and go back search for your last 5 years business (or as far as you can go back) - closed, expireds, deleted, actives, pendings all of it and print them out, and evaluate each one. Then for as many as you can write down where that business came from. i.e personal sphere of influence, open house, referral, past client, online client, third party source, walk in, sign call convert, yellow pages, cold call…whatever your categories are, just stay consistent in placing them. Then once you have done this go through and total up how many in each category. For example of the 100 sales, X came from sign calls, X from personal referrals, X from online,….. My theory is that an overwhelming percentage came from “old school” techniques, such as personal referrals, sphere of influence, sign calls, personal generated marketing, walk ins and a small minority came from online leads from personal website, third party leads, QR codes, text marketing, etc.
NOW does this mean that these other new fangled techniques are a waste of time and money? No, probably not. Does it mean that next year that QR codes will not become a bigger percentage maybe, maybe not. But I speculate it does mean that most of our time should be spent on proven, repeatable, productive activities. Such as….well that is a post of next week, this is enough to think about for now.
The point is that we as Realtors® and other sales professionals can get wrapped up in all the gadgets and glitz, and forget about the basics. Maybe its more its important to do the basics, and then add a little glitz, and gadgets.
Tuesday, October 26, 2010
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