I am a Full Time Realtor in the Lynchburg Association of Realtors.  I struggle daily with having to deliver the bad news to Clients who are considering the issues of Selling their houses.  Today I did a Market Analysis for one of my clients and realized I was delivering yet again the same information that I had delivered a few days ago to another client.  I had wrote my Seller an email explaining their situation in detail and it dawned on me that this is what I say over and over to Sellers.  Normally, it does not matter what area they live in, the style of the house, the price of the house or how long they have owned the house - basically it is the same story.

I reviewed what I had written my Client and I wrote this blog:

Dear Seller,

This is not what information you want to hear. It is not fun to deliver information like this but I do not gloss over the down and dirty details with Sellers.   The Housing Market is what it is and I have the unfortunate duty to tell people the way is now!

Your property has gone down in value because of the Housing Market.   Your house is worth today as much as it will be for several years unless your area experiences growth.   The average time it takes to sell a house is 5 months.  The weapons we use to reduce “Days On The Market” are:

·        Price

·        Condition of House

·        Ease of Showing

·        Staging of the house – Buyers need to see a their “stuff” in your house

You are not the only ones in this situation – unfortunately I have this conversation daily with other Sellers. 

So Now - You have to Decide – are you ready to change your life-style and accept the costs of doing so?  This is a hard decision.   

Many Sellers are deciding that their Life-Style Changes are more important than staying in houses that no longer work for them.  They recognize that the house provided shelter for their families.  Their house may not be worth what it was 5 years ago before the “bubble burst” but houses do have value and can be sold.  Sellers look at the diminished value but recognize they paid to live in the house they chose and it provided a home for them.  Shorter Term Sellers (home owned less than 5 years) are seeing that basically “they paid rent.”  Add to this, the fact that interest rates are at Historic Lows – Seller/Buyers are making up some of the diminished value by reducing their mortgage loan interest rates.

Please let me know your thoughts on this information – the Spring Market has already started so you need to get your house on the Market if you make the decision to sell!

Sincerely,

Kathy

Lynchburg VA Area

CLOSED HOME SALES FOR THE WEEK OF 1-15 thru 1-21-2012

AMHERST CO:

551 Round Mountain Loop               Madison Hts                                       $  80,000.00

1508 Wagon Trail Rd                         Monroe                                             $ 165,000.00             

BEDFORD CO

5712 Cottontown Rd                         Lynchburg                                          $ 215,000.00

1352 Oakwood Knolls Dr                  Bedford                                               $ 260,000.00

1219 Thompson Dr                           Forest                                                 $ 347,000.00

CAMPBELL CO

217 Candlers Mtn Road                    Lynchburg                                          $ 110,000.00

10198 Richmond Highway                Lynchburg                                          $ 118,500.00

80 MacArthur Dr                               Lynchburg                                          $ 165,000.00

CITY OF LYNCHBURG

209 Reno Dr                                       Lynchburg                                          $ 110,000.00

522 Jackson St                                    Lynchburg                                          $ 120,000.00

721 Euclid Ave                                    Lynchburg                                          $ 135,000.00

1219 Greenway Ct                              Lynchburg                                          $ 155,000.00

12 Homes Closed at an Average Price of $165,042.00

49 Houses Went on the Market for Sale last week.

This is a “snapshot” of Real Estate activity in

Amherst, Bedford, Campbell Counties and the City of Lynchburg

This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.

There can be variables that affect this report. I supply this information for my customers, clients & business associates

Lynchburg VA Area

CLOSED HOME SALES FOR THE WEEK OF 1-8 thru 1-15-2012

AMHERST CO:

114 Westhaven Dr                             Madison Hts                                                   $  30,000.00

222 Garland Ave                                 Amherst                                                          $ 128,000.00

193 Stoney Creek Rd                         Madison Hts                                                   $ 229,900.00

BEDFORD CO

838 Randolph St                                Bedford                                                           $ 100,000.00

1123 Roundtree Dr                            Bedford                                                           $ 129,900.00

1066 Commonwealth Cir                    Forest                                                             $ 163,000.00

1094 C8 Commonwealth Cir               Forest                                                             $ 167,750.00

108 Springhill Cir                                 Bedford                                                           $ 247,500.00

113 Snooty Fox Rd                            Goode                                                             $ 269,900.00

CAMPBELL CO

175 Coopers Way                               Evington                                                         $ 190,000.00

2608 Smoky Hollow Rd                      Lynchburg                                                      $ 193,000.00

CITY OF LYNCHBURG

1200 Toledo Ave                               Lynchburg                                                      $  46,000.00

1907 Mimosa                                     Lynchburg                                                      $  80,000.00

3600 Old Forest Rd #114                  Lynchburg                                                      $ 112,000.00

4303 Tremont                                    Lynchburg                                                      $ 134,000.00

2716 Hurdle Hill Rd                            Lynchburg                                                      $ 225,000.00

16  Homes Closed at an Average Price of $157,403.00

63 Houses Went on the Market for Sale last week.

This is a “snapshot” of Real Estate activity in

 Amherst, Bedford, Campbell Counties and the City of Lynchburg

This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.

There can be variables that affect this report. I supply this information for my customers, clients & business associates.

  Kathy Myers Carson, Realtor   434-660-4025   or   KathyCarson25@gmail.com

Lynchburg VA Area

CLOSED HOME SALES FOR THE WEEK OF 1-1 thru 1-8-2012

AMHERST CO:

NONE

BEDFORD CO

1115 Huntington Hts                        Bedford                                               $ 79,500.00

1025 Woodhaven Dr                         Bedford                                               $112,000.00

1839 Meadow Down Dr                     Forest                                                 $288,000.00

1116 Blessed Mtn Rd                        Goode                                                 $325,000.00

CAMPBELL CO

138 Charlotte Dr                               Evington                                             $  28,000.00

1023 9^th St                                        Altavista                                             $  50,100.00

10 Haven Ct                                       Lynchburg                                          $ 165,000.00

CITY OF LYNCHBURG

902 Craddock St                                Lynchburg                                          $  60,000.00

3208 Memorial Ave                           Lynchburg                                          $  69,900.00

3409 Milton St                                   Lynchburg                                          $  91,500.00

309 Harrison St                                  Lynchburg                                          $ 113,000.00

11  Homes Closed at an Average Price of $125,682.00

64 Houses Went on the Market for Sale last week.

This is a “snapshot” of Real Estate activity in

 Amherst, Bedford, Campbell Counties and the City of Lynchburg

This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.

There can be variables that affect this report. I supply this information for my customers, clients & business associates

DECEMBER 2011 -  LYNCHBURG HOUSING REPORT

Houses for Sale     (current MLS)                            1366 (1-6-2012)

New Listings for DECEMBER 2011                            143 

Houses Sold in DECEMBER 2011                              136

• Average Days on the Market =  145/168                 Longer than previous months
• Sale Price % to List Price       = 95.86                    (Up by 1.12% )
• Average Sales Price               = $ 170,337.00        (Positive – Up by $ 1466.00)

The Inventory of HOMES for SALE is 9.5 Months

 DOWN below 12 months for the 1^st Time since I started this report April 2010!

Dear Friends – HAPPY NEW YEAR!!!

Will 2012 be Happy for Realtors – Mortgage Lenders – Home Inspectors – Closing Companies, BUYERS and SELLERS?

I  am hitting the ground running!  I have completed my Business Plan for 2012 & it shows me that I will be working smarter to make the most out of the hours I work with both my Buyers & Sellers. 

The Outlook: 

·       BUYERS are taking longer to make decisions on the home they buy because there are so many homes on the market for them to look at and because they are scared by the news they hear each day.  BUYERS have to reconcile their “feelings” – their housing dollar goes farther today than ever because houses are priced low & INTEREST RATES are at a Historic Low!

·       SELLERS are frustrated because they can’t get offers on their houses after they have lowered the price.  SELLERS must be realistic – The Housing Market is What It Is!  The House has to be priced as the Market dictates, it has to be Turn-Key, all Repairs have to be done, and the house has to be shown because  no shows = no offers = no sales! 

·       Me - My job is to keep both groups motivated, informed, pacified and calm - Not an easy job!  

·       CLOSINGS are taking 45 to 60 days on average and are requiring the Patience of Job for everyone in the transaction!

I am excited to announce that I will be launching HOMES FOR HEROES this month – watch for the announcement and details.  This is a wonderful program that gives me the opportunity to make Home Buying & Selling more affordable for Community Heroes! To get a sneak peak go to www.homesforheroes.com – I am the exclusive Realtor for this program in the Central VA area!

This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-

There can be variables that affect my analysis.  I supply this information for my customers, clients & business associates.

NOVEMBER 2011 -  LYNCHBURG HOUSING REPORT

Houses for Sale        (current MLS)                   1679   (12-7-2011)

New Listings for NOVEMBER 2011                     200   

Houses Sold in NOVEMBER 2011                       134

• Average Days on the Market =  151/165           (Positive – SHORTER than Oct 11)
• Sale Price % to List Price           = 94.74%          (Down by .06% )
• Average Sales Price       = $ 168,871.00           (Positive – Up by $ 20,915.00)

There is a 11.74 Month Inventory of HOMES for SALE in the Lynchburg MLS

I would like to share with you situations that have occurred with my clients this month:

-Several Sellers decide to take their houses off of the market because they were not comfortable with losing $ on the sale of their current house - they were afraid to gamble that they will make up their loss on the purchase side.  “Move-Up” Buyers that bought at the height of the Housing Market are facing this issue daily.

- Sellers/Buyers started looking for a new home months ago and relied on HGTV, Family & Friends to inform them on the current RE Market rather than a knowledgeable Realtor.  Because they did not have the facts they delayed getting their home on the market.  This delay means that they missed the Active Buyer Window back in the early Fall.  Now their house is on the market but showings are slow because of the Holidays.

-Sellers priced their properties to high at listing when the Market was fast – they have now missed that early Fall Buyer Window of Activity.  Showings of homes have slowed significantly due to Holiday Activities.

- Buyers & Sellers who - did take my advice, read the Market Analysis’ that I provided, explored options I provided them, understood that I was representing them & providing them with Great Service & Advice  - 

are the Buyers & Sellers who are now under contract for Transactions of Home Sales & Purchases! 

Every Situation in Real Estate is totally different!  I am trained to handle these differences. I attend at least 1 education classes every month, I read the Trades (print & on-line), I am active in the Lynchburg Assoc of Realtors & the VA Assoc of Realtors – next year I will serve on the LAR Legislative Committee & will be keeping a closer eye on the Area’s Governing Bodies as they relate to RE Issues affecting Central VA.  I study our Real Estate Market & I send you information to keep you updated because I value the Education of my Clients.

WISHING YOU AND YOUR FAMILY A VERY MERRY CHRISTMAS!!!

This information is taken from statistics for single family homes provided through the LAR MLS & analyzed by Kathy Carson-

There can be variables that affect my analysis.  I supply this information for my customers, clients & business associates.

Lynchburg VA Area

CLOSED HOME SALES FOR THE WEEK OF 11-20 through 11-27-2011

AMHERST CO:

108 Cheatham Road                          Monroe                                               $ 120,000.00

384 Gun Mountain Dr                        Monroe                                               $ 172,000.00

BEDFORD CO

1076 Kanawah Lane                          Lynchburg                                          $ 330,000.00

1246 Rocky Branc h Rd                     Forest                                                 $ 510,000.00

112 Evergreen Ridge Dr                    Lynchburg                                          $ 850,000.00

CAMPBELL CO

104 Buxton Dr                                  Lynchburg                                          $ 155,000.00

CITY OF LYNCHBURG

6276 Pawnee Dr                                 Lynchburg                                          $ 146,000.00

7 Homes Closed at an Average Price of $326,143.00

19 Houses Went on the Market for Sale last week.

This is a “snapshot” of Real Estate activity in

Amherst, Bedford, Campbell Counties and the City of Lynchburg, VIRGINIA

This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.

There can be variables that affect this report. I supply this information for my customers, clients & business associates.

  Kathy Myers Carson, Realtor   434-660-4025   or   KathyCarson25@gmail.com

Lynchburg VA Area

CLOSED HOME SALES FOR THE WEEK OF 11-13 through 11-20-2011

AMHERST CO:

310 Foxcroft Dr                                 Monroe                                               $  140,000.00

134 Wynbrooke Place                        Madison Hts                                       $  145,000.00

114 Foxbriar                                      Madison Hts                                       $  286,000.00

BEDFORD CO

221 Jefferson Woods                         Forest                                                 $  165,000.00

1092 Woods End Lane                      Forest                                                  $  212,000.00

1210 Ickleton Pl                                 Forest                                                 $  230,000.00

1031 Seven Sisters                            Forest                                                 $  258,000.00

1118 Dayna Ct                                  Forest                                                  $  389,900.00

103 Pleasant View Dr                        Goode                                                 $  305,000.00

602 Kings Road                                 Lynchburg                                           $  156,900.00

2351 Audubon Dr                              Lynchburg                                           $  650,000.00

CAMPBELL CO

516 Alum Springs Rd                         Evington                                             $  122,000.00

64 Twin Lakes                                   Evington                                             $  132,500.00

160 Whitestone                                 Lynchburg                                          $  169,900.00

598 Dawnridge                                  Lynchburg                                          $  169,900.00

397 Sleep Hollow Rd                          Lynchburg                                         $  298,000.00

91 Hill Creek Rd                                 Altavista                                             $  200,000.00

CITY OF LYNCHBURG

617 Washington St                            Lynchburg                                          $   20,000.00

2000 Miller St                                     Lynchburg                                         $   42,500.00

3076 Forest Hills Cir                          Lynchburg                                          $   66,653.00

1537 Granville St                               Lynchburg                                          $  110,000.00

204 Lookout                                      Lynchburg                                         $  246,900.00

700 Sanhill                                         Lynchburg                                          $  150,000.00

302 Cornerstone                               Lynchburg                                          $ 225,000.00

24 Homes Closed at an Average Price of $199,672.00

Only 36 Houses Went on the Market for Sale last week.

This is a “snapshot” of Real Estate activity in

 Amherst, Bedford, Campbell Counties and the City of Lynchburg

This information is taken from statistics for single family homes from the LAR MLS & analyzed by Kathy Carson, Realtor.

There can be variables that affect this report. I supply this information for my customers, clients & business associates.

  Kathy Myers Carson, Realtor   434-660-4025   or   KathyCarson25@gmail.com