Help-U-Sell of Prescott Blog

The U.S. Housing Market: Better Times Ahead

Help-U-Sell of Prescott — Sun, 30 Dec 2007 21:37:19 -0600

A friend of mine recently attended a Conference sponsored by Charles Schwab. James Smith, Chief Economist with Parsec Financial Management presented a program entitled "The U.S. Housing Market: Better Times Ahead" . In his presentation Mr. Smith brings up some very interesting points regarding home ownership in the United States, the demographics of home ownership and what these statistics signal for the future.

From 2004 through 2006 home ownership rates ran about 69% with a slight downturn in 2007 to 68.4%. Many housing experts believe that due to U.S. demographics and mobility habits of Americans a ceiling of approximately 75% is realistic. Mr. Smith looked at how home ownership rates varied by age group, the lowest rate of home ownership was among people under 25 years old. This group had an ownership rate of 24.8% in 2006. There is a sharp increase in ownership in the 25 - 29 year old group, to 41.8% and a further increase to 55.9% in the 30-34 age group. Home ownership peaked in the 70 - 74 year old age group at 83% followed closely by 82.4% ownership in the 65 - 69 year old group and 81.5% in the 60 - 64 group and 80.4% in the 55 - 59 year old group.

With baby boomers making up 77 million of our 300 million population, the home ownership rate should continue to increase for years to come. Baby Boomers (those people born in the U.S. between January 1, 1946 and December 31, 1964) according to Mr. Smith, have changed most other aspects of life in the U.S. as they have aged, so it shouldn't be surprising that their impact on the housing market has been, and will continue to be, enormous.

These home ownership rates should continue having a large effect on the Prescott area. Many of those individuals in the high ownership groups are retirees looking for the small town atmosphere and mild climate that the Prescott area offers, so I agree with Mr. Smith, The Prescott Area Housing Market will see Better Times Ahead!!

Arizona's Christmas City

Help-U-Sell of Prescott — Sat, 17 Nov 2007 19:05:54 -0600

As you drive around town you will see preparations being made for the Courthouse Lighting scheduled for December 1st. If you have not experienced the lighting, it is worth the trip. The traditional reading of the Christmas story, Christmas carols on the Courthouse steps and the lighting of the Square. If you can't make it to the actual lighting, the lights stay up through the New Year. In addition, Prescott Valley sponsors the Valley of Lights. Drive through Fain Park and enjoy the Holiday light displays.

Check the links below for more information on these and other Holiday events.

http://www.cityofprescott.net/visitors/

http://www.pvchamber.org/index.cfm?pid=3

New Help-U-Sell Prescott, Arizona Video

Help-U-Sell of Prescott — Sat, 12 May 2007 13:12:06 -0500

I have been watching the videos done by TurnHere Films on Inman Stories and really felt they were doing a great job in conveying a strong company message in a very clear and professionally produced video. So I decided to take the plunge and couldn't be happier with the results. TurnHere was great to work with, very professional and produced a great product. We have been including a link to our video in the signature of all of our e-mails, linked it to our web site and have posted it wherever possible on the net. If you are in the market for a quality company video, I would recommend working with TurnHere.

HELP-U-SELL PRESCOTT, ARIZONA VIDEO

Help-U-Sell of Prescott VIDEO

Help-U-Sell of Prescott — Mon, 02 Apr 2007 19:50:54 -0500

Help-U-Sell of Prescott... Full service. Big Savings. Your experts next door. View our video to learn more about the Prescott area and Help-U-Sell of Prescott.

Help-U-Sell Annual Conference

Help-U-Sell of Prescott — Fri, 16 Feb 2007 08:26:45 -0600

On Thursday I returned from the annual Help-U-Sell Conference in Las Vegas. You always come back from those meetings pumped up and ready to get back to work. We had some great speakers, Steve Murray, the editor of Real Trends, Allan Dalton, President ans CEO of Move, Inc and REALTOR.com, John Featherston, President of RIS Media (publishers of Real Estate Magazine) and Jamie Clark an explorer of over 40 countries, author and inspirational speaker.

It is reassuring to know that these extremely bright, hard working professionals are the voice of our industry. They are extremely well informed regarding the issues that face our industry and embrace the changes that we face in the future.

The consensus is that the industry although going through a slow down, the fundamentals are still strong, interest rates are good and unemployment remains low.

The internet remains the big issue when it comes to marketing your properties, over 80% of buyers are now using the internet when searching for a home. It is more importnant than ever to have increase your presence on the internet.

Jamie Clark was the highlight of the conference, he told the story of his pursuit to summit Mount Everest. The adversity that he faced, the rejection (it took 3 attempts before he succeeded) the incredible sense of accomplishment, the passion. If we all had the passion for what we do that he has, we could not do anything but succeed. I learned the importance of being prepared (I was a Boy Scout, I should have remembered that), planning, dedication, enthusiasm and love of what you do. We need to be passionate about what we do, be proud of our profession and have the desire to succeed.

Lynx Lake Marina

Help-U-Sell of Prescott — Sun, 11 Feb 2007 18:31:59 -0600

My wife and I were out in the forest last weekend and decided to stop by the Lynx Lake Marina for a bite to eat and a cold beer after a short hike. I hadn't been to the store in a number of years and was pleasantly surprised to find a great little restaurant. On Friday nights they have a fish fry and on Saturday evenings you can enjoy authentic German food, like my grandmother used to make. You can enjoy a quiet meal and take in the sites of beautiful Lynx Lake. Next time you are in the area, stop by, you will enjoy the experience.

Pinon Oaks, Prescott, AZ

Help-U-Sell of Prescott — Sat, 03 Feb 2007 12:18:30 -0600

Nestled in the rolling hills east of Williamson Valley, this premier subdivision is centrally located in the Tri-city Area, literally minutes from beautiful downtown Prescott. The stunning 360 degree views include Prescott's Granite Dells, Granite Mountain, Bill Williams Mountain, the San Francisco Peaks and Mingus Mountain. The climate is mild all year round and the atmosphere is luxurious and peaceful.

With Pinon Oaks, you can have the best of all worlds. The peaceful serenity and quite beauty of the surrounding area yet, you are close to all the comforts and amenities of the city. The nearby amenities of the city include: shopping, medical/hospital (both public and V.A.), outdoor and indoor recreation, and Pinon Oaks is within close proximity to a golf course. City utilities are available and include, water, sewer (no septic or well digging needed), maintained streets, cable TV, telephone, gas, and electric.

Another unique feature of Pinon Oaks is that it does not have HOA (Home Owner's Association) fees. So you are free to enjoy the beauty of an upscale community without the cost. Although there are no HOA fees, there are CC & R's that are set in place to protect resident's property values.

If you would like more information on Pinon Oaks or other Prescott area Communities, please e-mail or give me a call.

Yavapai Hills, Prescott, Arizona

Help-U-Sell of Prescott — Wed, 31 Jan 2007 08:34:00 -0600

The prestigious community of Yavapai Hills sits among the rolling hills and valleys of, what once was the Bar Circle A Ranch. Many of the custom home sites are surrounded by acres of open space, quiet green belts and spectacular views. This setting allows wildlife to continue to thrive. All home sites are fully improved with city maintained streets and sidewalks and underground utilities.

Yavapai Hills is conveniently located within the city limits of Prescott, just minutes away from shopping and services of both Prescott and Prescott Valley. With the central location, residents have easy access to miles of hiking, fishing on area lakes or dinner downtown. Residents can also enjoy being a part of an active community.

For information on this or other communities in the Prescott area, give me a call.

Prescott Area Market Conditions 2005 vs 2006

Help-U-Sell of Prescott — Wed, 31 Jan 2007 08:08:17 -0600

A look back at 2006 and 2005 and what it means for 2007.

HOME SALES
	2005	VS	2006	% Change
Prescott
All closed sales	1442		1085	-25%
Average sales price	$354,519		$390,378	+10%
Median sales price	$325,000		$350,000	+7.6%
List to Sell %	98%		96.5%	-2%
Average days on mkt.	103		126	+22%

Prescott Valley
All closed sales	1123		797	-29%
Average sales price	$226,531		$238,854	+5.4%
Median sales price	$225,000		$234,000	+4%
List to Sell %	98.6%		97.5%	+1.1%
Average days on mkt.	80		112	+40%

Chino Valley
All closed sales	414		302	-27%
Average sales price	$211,604		$253,362	+19.7%
Median sales price	$201,900		$240,000	+18.8%
List to Sell %	98.2%		97.1%	-1.1%
Average days on mkt.	114		125	+9.6%

Inventory of homes for sale have leveled off over the past 4 to 6 months, inventory of land for sale continues to rise (possibly less builders buying up inventory).

Rates continue to remain very competitive (30 year fixed about 5.8%) and sellers seem to be adjusting their price. This could stimulate sales later in the year.

Opportunity Knocks

Help-U-Sell of Prescott — Wed, 24 Jan 2007 08:47:29 -0600

I am a firm believer in the motto "some see the glass 1/2 empty, and others see the glass 1/2 full". I choose to see the current market conditions as the glass 1/2 full. Interest rates are still low when compared to recent history, prices continue a slight decline or are stabilizing, buyers are in the market and sellers are getting more motivated. That sounds to me like a good time to be in the market.

For those motivated sellers, price your home competitively, stage your home so it is ready to sell and make your home as easy to view as possible, there are enough unrealistically priced listings on the market to really set yours apart from the rest. Listen to what your agent has to say, they are trying their best to give you the advice necessary to sell your home.

Buyers, now is the time to seriously consider purchasing your next home. Sellers are motivated, rates are good and there are a lot of choices in your market. Get pre-qualified for your loan, find a real estate professional that provides remarkable service and that you trust and employ them to assit you in your search.

Motivated sellers, good economic conditions, plenty of choices.... Sounds like opportunity knocking!!

MLS

Help-U-Sell of Prescott — Wed, 17 Jan 2007 08:06:03 -0600

I was reading Inman News this morning and the question came up "where do you see the MLS in the future?". I started thinking about that question, do we need all of the local MLS systems? It has been discussed many times before, but why not let web companies like Trulia, Zillow etc. create one source for nation wide listing information, open to the public and all real estate agents. Combine the mapping technology, valuation data, etc. into one location where opinions of price, value, condition could all be posted and open to the users scrutiny. Information without obligation, as we say at Help-U-Sell, would attract huge numbers of visitors and provide access to all the information available on a given property. Many IDX feeds filter out information available to the public (our's chooses to leave out the address, not that anyone would find that helpful). In the current environment of corporate transparency and disclosure why do we insist on keeping certain information out of the public domain? Give us your thoughts...

Local Real Estate Market

Help-U-Sell of Prescott — Sat, 13 Jan 2007 13:21:48 -0600

Well the numbers are in for 2006 and overall it was not a great year. Sales for the area were off by about 30% from the year prior and December, typically a slower month, did not show any signs of improvement. One of the biggest impacts on our are is the downturn in Phoenix and Southern California, areas where many of our buyers came from.

So the question keeps coming up, "how long do you think this will last?" "when do you see this thing turning around?" "should I just rent my home and wait for the market to turn?".

I don't think anyone really knows the answer to those questions, we must realize that markets change, they go up, and they go down, but people will continue to move to our part of the country looking for the quality of life our area offers. There are homes selling every day, the key is to list your home right in the beginning, or you will find yourself chasing the market as prices adjust. I hear more sellers telling me "but I need $XXXX in order for me to move to _______________." Reality is, I don't think buyers really care what you need to get to the next place, they are interested in buying your home at, or below the current market value.

Slowly I see sellers in our area coming to the realization that if your home has been on the market for an extended period, it is time to look at the price and condition of the property and if you need to sell make the necessary adjustments to attract a buyer. As the unrealistic remove their homes from the market and prices adjust, inventory will be reduced, prices will stabilize and buyers will once again enter the market and then here we go again...

"Purple Cow"

Help-U-Sell of Prescott — Fri, 12 Jan 2007 09:09:28 -0600

I have been reading a lot about the author Seth Godin on Inman News lately, he was the keynote speaker at the latest Real Estate Connect in New York, so I decided to order a couple of his books and I have started reading his blog... His book "Purple Cow... Transform your business by being remarkable" has me reviewing how we do business and what makes us truely "remarkable". How do we differentiate ourselves from others and what is it about what we do that makes our business memorable?

I think that people can get themselves hung up on the latest technology, your web site, e-mail, etc. but real estate remains a service business that hinges on personal relationships... sure, the technology is important to establish, maintain and service ouir clients, but it is the personal relationships and contact that is memorable in the long run.

So my New Years Resolution is to continue to invest in technology to provide my clients a great real estate experience, and more importantly, make a conscious effort to provide the personal contact and service that will make that experience truely "remarkable".

Prescott, AZ

Help-U-Sell of Prescott — Thu, 11 Jan 2007 09:51:03 -0600

Prescott, Arizona is a great town situated at the foot of the Bradshaw Mountains, surrounded by 1000's of acres of National Forest. At about a mile elevation we experience 4 mild seasons and one of the most enjoyable climates around. Prescott and the now Quad-City area of Prescott Valley, Chino Valley and Dewey/Humbolt provide all the modern conveniences associated with much larger areas i.e. shopping, movies, theatre, outdoor activities; all within a rural, small town atmosphere... and if you can't find it here, we are just 90 minutes from both Phoenix and Flagstaff.

I have been coming to Prescott since 1974 and moved here permanently in 1983... so I've seen many changes to the area, most for the better.

Give us your comments... How do you feel about the changes that continue to take place in our area?