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durham luxury real estate: Mid Quarter Stats on the Durham Luxury Home Market - 09/22/08 01:50 PM
I usually wait until the end of the quarter to take a look at the quarter’s activity in the Durham luxury home market but it’s been an interesting summer in some ways. The summer is usually not particularly active but since July 1, six homes in the $700,000 or more category have closed and another 8 are pending.
Inventory is down slightly to 79 active listings. What is interesting is that 21 of those homes have been on the market less than 60 days. The inventory is down from 86 homes at the end of the quarter. If this doesn’t add … (0 comments)
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durham luxury real estate: Making the case for Durham in the luxury market - 07/14/08 03:07 PM
The lead editorial today in the Durham Herald-Sun is headlined “Durham’s message is getting around.” It sites a poll that seems to confirm that the residents of Wake and Orange counties increasingly have a favorable view of Durham. It cites the efforts of the Convention and Visitors Bureau, The Chamber of Commerce and Downtown Durham, Inc. for doing a better job of telling Durham’s story. One can agree with everything the editorial states but still have mixed feelings about it’s appearance at this point in the game. Why now? The editorial writers didn’t just notice the dramatic developments or the impact … (0 comments)
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durham luxury real estate: Second Quarter Market Report on Durham Luxury Homes - 07/08/08 06:50 PM
From the Durham Luxury Real Estate blog....As we pass Memorial Day, the Summer solstice and Independence Day, the dog days of summer are upon us. We’ve also had more consecutive days with rain than many of us can remember. But even if drought fears have receded a bit, sales of luxury homes in Durham have been sparse and July and August are not typically strong months even in the best of times. Last year in the second quarter 15 homes in the $700,000+ category where sold in Durham. This year it was 7 and the dollar volume was down 49% from … (0 comments)
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durham luxury real estate: Price Pressure on Luxury Homes in Durham - 06/23/08 08:00 PM
Seth Godin is an author, marketing guru and blogger who’s posts are often short and sometimes cryptic but always interesting. This is a short post from June 20th that has relevance in the Durham luxury home market today.
Your sales force and your customers may scream that you need to lower your price.
It’s not true.
You need to increase your value.
If people don’t want to pay, it’s because you’re not delivering enough value for the money you’re charging.
You’re not selling a commodity unless you want to.
How does this advice apply to real estate, especially … (2 comments)
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durham luxury real estate: Buying a Luxury Home in Durham - 06/11/08 09:50 PM
One section of the Newcomers Guide to Buying Luxury Homes in Durham posted on DurhamLuxRE.com specifically addresses some of the technical issues that can vary from state to state. The most important of these is the concept of agency. Until a few years ago, all real estate agents in North Carolina technically represented the seller in a transaction, even when that agent was engaged by the buyer. The real estate commission decided that buyers deserved equal representation and formally established “buyer agency” with its own set of practices and requirements. All licensed agents are licensed to represent either buyers or sellers … (0 comments)
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durham luxury real estate: Branding and Luxury Homes in Durham - 06/04/08 03:23 PM
A friend and reader of the Durham Luxury Real Estate blog forwarded an article to me about branding in real estate. The analysis was primarily intended for large national developers but it made some points worth considering in our effort to improve the marketing of luxury properties in Durham.
This blog has taken the point of view that one of the reasons, if not the primary reason, that the luxury home market in Durham is not more vibrant, is that the Durham "brand" has not caught up with the emerging reality. This is not a unique observation. During the last couple … (0 comments)
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durham luxury real estate: New Blog on the Durham Luxury Home Market - 03/21/08 04:29 PM
Long before I was in real estate I was a marketing professional. If you count real estate marketing, and I do, I've been in marketing since 1975 or well over 30 years. A good chunk of that was in banking during the time when retail banking was changing dramatically through deregulation and new technologies. I got started in product development and product management. My communications skills got me my first job but it also required some analytical skills that my liberal arts background didn't provide. So I set off to teach myself. One of the books I picked up was one called Managing by … (0 comments)
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Jay Zenner
Durham,
NC
More about me…
Springtree Realty
Address: 3708 Lychan Parkway, Suite 206, Durham, NC, 27707
Office Phone: (919) 794-3351
Cell Phone: (919) 819-6666
Email Me
Durham...a great place to live.
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