Tracy's Blog

Olive Branch Real Estate Market Update 08/18/08

2008-08-18T11:55:18Z

Residential properties in Olive Branch can be found in a wide array of price ranges. There are currently 783 homes listed for sale with prices ranging from just below $100,000 up to over $500,000 . . . with just a few over the $1,000,000 mark. The pricing breaks down as follows:

< $100,000 = 11 homes (was 15 on 3/27/08)

$100,000-$149,999 = 122 homes (was 125 on 3/27/08)

$150,000-$199,999 = 166 homes (was 193 on 3/27/08)

$200,000-$299,999 = 315 homes (was 332 on 3/27/08)

$300,000-$400,000 = 99 homes (was 125 on 3/27/08)

> $400,000 = 70 homes (was 38 on 3/27/08)

Supply has dropped in all price ranges, except the $400,000+ market . . . which has nearly doubled its inventory. This is a good trend for sellers in the below $400,000 market.

The average days on market for these listed homes is 166 days (up from 165 on 3/27/08). The average list price is $253,937 (down from $259,062 on 3/28/07). The median list price is $230,900 (down from $235,505 on 3/28/07).

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In the previous six months in Olive Branch there have been a total of 388 listed homes sell. The sold homes for the last six months break down as follows:

< $100,000 = 35 homes (was 35 on 3/27/08)

$100,000-$149,999 = 103 homes (was 77 on 3/27/08)

$150,000-$199,999 = 106 homes (was 97 on 3/27/08)

$200,000-$299,999 = 108 homes (was 81 on 3/27/08)

$300,000-$400,000 = 27 homes (was 43 on 3/27/08)

> $400,000 = 9 homes (was 13 on 3/27/08)

Sales activity has remained even or picked up in all price ranges below $300,000. Overall sales activity has increased by 12% since this same data was analyzed on 3/27/08.

The average days on market for these sold homes was 139 days (up from 129 days on 3/27/08). The average sold price was $189,908 (down from $204,176 on 3/27/08). The median sold price was $175,750 (down from $179,750 on 3/27/08). This indicates that buyers are buying in the lower price ranges and shying away from thos $300,000 and above. One main reason for this could be buyers ability to qualify for FHA loans, which in our area have a loan limit of $271,050. Loans above that must be conventional and require a larger down payment.

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Based upon the information above there appears to currently be a 12.1 month overall supply of homes in Olive Branch IF no other homes come on the market. This is Absorption Rate . . . the rate at which the current inventory of homes would be expected to sell. The breakdown regarding supply in the price ranges is as follows:

< $100,000 = 1.9 month supply (down from 2.6 on 3/28/08)

$100,000-$149,999 = 7.1 month supply (down from 9.7 on 3/27/0)

$150,000-$199,999 = 9.4 month supply (down from 11.9 on 3/28/08)

$200,000-$299,999 = 17.5 month supply (down from 24.6 on 3/28/08)

$300,000-$400,000 = 22 month supply (up from 17.4 on 3/28/08)

> $400,000 = 46.7 month supply (up from 17.5 on 3/28/08)

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OK! That is a lot of information and a whole lot of numbers to absorb, so what the heck does it all mean for the average buyer or seller??? Well, here are my thoughts:

BUYERS

Buyers, your best bets for getting the best deals are still going to be for homes $200,000 and above . . . and especially in the $300,00 and above ranges. These sellers are in heavy competition, especially with the builders . . . because this is where the majority of the new construction exists. So, does that mean that you should find a house that you like and then lowball it? The answer to that question lies in what the market analysis says for that house . . . this is something your Realtor can prepare for you once you find a house that you like. It is very possible that the seller has priced their home to sell . . . which means they may have it already priced below what the market indicates it should sell for. If this is the case, even in this market, you may still need to act fast and make a reasonable offer, or someone else may buy the house out from under you. However, if the market analysis shows that the home is priced above the market, then get advice from your agent on how low you should offer . . . and be sure that when presenting the offer on your behalf, your agent provides supporting information for why you offered what you did. The seller may still feel insulted with the low offer, but if there is a supporting CMA, it could lessen the sting for them. Also, keep in mind that nearly any time you make a "lowball offer" you run the risk of making the seller mad, which could make them much tougher to negotiate with in the long run. Talk to your agent about this. Also keep in mind that this is NOT the market to overpay for a house . . . unless you can find nothing else you like and you plan on being in the house for a very long time . . . if that is the case, then buy the house you want.

Deals will also present themselves below the $200,000 mark . . . but you will be in tighter competition for those deals, so be sure to act fast! If you are looking for a home below $100,000, you may be in a situation of "take what you can find" because those are in very short supply in Olive Branch.

SELLERS

Sellers, first, if you have a home in the $200,000+ price range in Olive Branch, let me apologize to you . . . just in case I made you mad by what you may have read above in my comments to the buyers. However, remember "it is what it is" . . . and the numbers "are what they are". So, how, as sellers do you deal with it. Like this:

First and foremost, get a great Realtor, who is backed by a great company and lots of support. This is NOT the time to be looking for "cheap" when it comes to who helps you get your home sold . . . especially if you are in a position that you HAVE TO sell. The agent you hire needs to have a top notch marketing plan and be able to show you that they can get results. Ask the tough questions about their average days on market, what support they get from their company, what they absorption rate is for homes in your price range (if they can't tell you this, then they have not done their home work . . . or they don't know what it is). Hire your agent based upon their marketing plan, their knowledge of the business, if you feel they can be trusted, etc . . . DO NOT hire an agent based solely upon what they tell you they can get for your home. An agent cannot determine a selling price . . . the market does that. The agent can only render their opinion based upon the market's recent history, the current market competition, the absorption rate, etc.

Second, DO NOT overprice your home. There are many reasons for this. In a highly competitive market, overpriced listings stay on the market much longer . . . even if you do reduce your price throughout the life of the listing. Homes that have a longer than average days on market get "shop worn". In other words, folks don't get as excited about them and wonder what is wrong with the house, since it has just been "sitting". Your prime time for attracting buyers is within the first 3-4 weeks . . . so it is imperative that your home is priced right from the beginning. After the first few weeks, all of the "pent up" buyers go away, and then all you have are new buyers coming into the market place. "Pent up" buyers are those who have been looking and haven't found yet what they want . . . so when a new home comes on the market, it is like fresh meat and all of the "pent up" buyers go rushing to it.

Third, BE SURE your home is in tip-top condition. This means that it should be in good repair, squeaky clean (inside and out), and free of clutter. You may also want to consider having a professional stager assist with staging the home to sell. However, if you have hired a great Realtor and you listen to AND do the things that they suggest, you should be in a good position with this regard.

Fourth, focus on the features of your home that set it apart from others. For instance, if in your price range all homes have tile floors in the kitchen and baths, don't focus on that. Instead, focus on the fact that your is in a quiet cul-de-sac and has panoramic views of the countryside . . . or whatever the special features of your home are.

Sellers who see the market for what it is and poise themselves to be one step in front of the competition (whether by marketing, price, condition, features, or all of the above) will see the best results.

Good luck to you all, whether you are buying or selling. Opportunities exist for everyone if you know what your are doing and hire a great Realtor.

For additional information, don't hesitate to contact me at 662-895-8300 or 901-210-8045.

Tracy

P.S. The information regarding homes listed and sold was compiled from the MLS system of the Northwest MS Assoc of Realtors. It is deemed reliable, but not guaranteed.

I NEED YOUR INPUT PLEASE: Why Should Realtors Use Social Networking Sites?

2008-08-05T06:35:36Z

I am leading a sales meeting this morning and in it I will be discussing real estate and social networking sites & blogging. What are some business reasons that YOU blog and/or are involved in networking sites such as Facebook, MySpace, etc? How has it helped your business?

Thanks for your help!!

Tracy Kirkley

This is a Great Time to Buy a House . . . but . . .

2008-04-20T16:40:54Z

But . . . you don't know how to get started?

If you are a First-Time Homebuyer or a Seasoned Veteran Homebuyer, the dilemma can be the same . . . because let's face it, this is not something that most people do every day. So, here are a few pointers for you:

Find a Realtor to Help You. I really cannot stress this enough. By having your own Realtor, you can save time, save headaches, and save money. Your Realtor can help you save time because they are more familiar with the market and where the best places are to look for just the right house for you. So many folks spend time driving around in neighborhoods that end up being out of their price range . . . or they look through the magazines and call on every house that looks interesting, just to find out that the house is out of their range or has already been sold. That is a lot of time wasted. After you have a counseling session with your Realtor, they can "pre-screen" homes to make sure that they have the things your are looking for and are in your price range. Your Realtor can hep you save headaches because they know the ropes. They know what paperwork needs to be used and what it all means; they know how to help protect your interests by recommending home inspections, special contract addenda, financing options, etc; and they know how to help you steer clear of problems, or how to successfully get through problems that may occur. Your Realtor can help you save money because typically they have had special negotiating training and are practiced at it; they regularly become aware of some great deals before they ever come on the market; they know what "incentives" that local builders are willing to give (even thought the builders may not advertise it); and they can pull a Comparative Market Analysis (CMA) and help you analyze what similar properties are selling for. When choosing a Realtor, make sure that they are a good fit for you (see my post on Selecting the Right Realtor for You . . . it is geared more towards if you are selling a house, but many of the points/questions will work for a Buyer's Agent too). Also, once you have found a good Realtor, stick with them and listen to their advice. Also, most Buyer's Agents are paid through the listing side of the transaction, so you don't have to pay them.
Get Pre-Approved for Your Mortgage. Before you go out looking for a home is the perfect time to talk to a mortgage company. Not only will this help you establish the price range in which you should be looking, it will help to give you better negotiating power when you do find the right house. How does it do this? Well, think about this . . . if you make an offer on a house and you already have the backing of a strong mortgage company, the sellers know that they have a "real" buyer who can actually purchase their house and they are going to be much more willing to negotiate with you. This is as opposed to someone who makes an offer and has not been to a mortgage company. In this case, the sellers are not really certain that the buyer can buy, and so therefore may not be as willing to come off of their asking price.
Keep Your Finances Stable Until Closing. This means: don't go buy a new car, don't deplete all of your cash reserves, don't quit your job, don't go buy a new plasma tv (or any other high ticket item). In other words, once you are serious about buying a house, put all of the rest of your spending on hold at least until you have closed on your home.
Do Your Homework. Get online and do a little research about the area that you are thinking of moving to. This might trigger questions that you should ask your Realtor. This will also help you to determine how much house you can get for the money that you are planning on spending.

I could probably go on and on about the process and all of the things you need to look for . . . but if you follow my advice on item #1 (Find a Realtor to Help You), then your Realtor will walk you through everything.

Now, GO BUY A HOUSE . . . BECAUSE THIS IS A GREAT TIME TO DO IT!!!

Tracy Kirkley

For more information on the home-buying process, go to www.TracyKirkley.com.

OLIVE BRANCH, MS - Senior Citizen Center Opens!!

2008-04-16T15:25:25Z

After much anticipation and planning, the new Olive Branch Senior Citizen Center is now open. Located at the Hwy 305 entrance to the City Park, this 10,000 square foot facilitiy will offer entertainment and recreational activities for seniors (age 50+). This is a Computer Lab, Exercise Room, Reading Room, TV Lounge, 200-seat Assemly Room, and areas for all sorts of special activities.

For more information, you can contact the Seniors Coordinator, Missy Powell, at 662-890-7182 . . . or better yet, drop by and see what this great addition to Olive Branch has to offer!

Tracy Kirkley, Broker

www.TracyKirkley.com

OLIVE BRANCH, MS - What is going on now?

2008-04-16T15:18:32Z

To see a full list of all the upcoming activities in Olive Branch, MS, you can go to: http://www.olivebranchms.com/ . . . but here are a few things that are coming up:

April 28 - 4th Annual Olive Branch Arts Council Play: "Laughter on the 23rd Floor" (held @ Olive Branch High School)

May 3 - 4th Annual Mud Bug Bash benefitting Palmer Home for Children from 7pm-12pm. With soulful Zydeco sounds, enjoy all the Mudbugs you can eat while bidding on your favorite auction items and dancing to the music of Almost Famous.

May 10 - Mayfest in Old Towne. Lots of booths, activities, and fun for all ages!

Olive Branch is full of all sorts of fun and activities for its residents and neighbors. This is one of the many things that makes it such a great place to live!!

Tracy Kirkley, Broker

www.TracyKirkley.com

Stop seller complaints!!

2008-04-16T15:01:33Z

How do you do this . . . typically through great communication.

The majority of seller complaints typically deal with two different thing:

1. My listing agent stuck sign in the yard, and I haven't heard anymore from him. He is not doing anything else.

2. My listing agent doesn't ever show my house.

Both of these are simple fixes if you deal with them on the front end. First, when you list a house, talk with the seller about a schedule of communication that works for them. Then contact them on that schedule (every Monday, every other Wednesday, whatever you come up with). In addition to that, contact the client via mail with a copy of every add that you have done . . . or via e-mail with a link to their home on different websites. Every time you print new flyers and put them out, let them know that you have done it. While there might be a few agents out there who "only stick a sign in the yard", most do a lot more than that . . . but guess what? THEY FORGOT TO TELL THEIR SELLER WHAT ALL THEY HAVE BEEN DOING.

With regard to the second complaint listed above . . . again, set up the proper expectation on the front end. As we agents know, the odds of us having the exact right buyer at the exact right time for any one of our listings is typically slim . . . but guess what? WE FORGOT TO TELL THE SELLERS THAT. The sellers don't always understand how things work and it is up to us to let them know. So, the next time you are at a listing presentation, be sure to let the seller know that while you will certainly show their home whenever you can, the odds are that it will be shown much more by other agents (and explain why).

Most complaints can be headed off if we would only take the time on the front end to thoroughly explain things to our sellers and to find out what their expections are and then help to adjust those if necessary.

Good Luck & Good Selling!

Agent involvement in recruiting

2008-04-12T10:26:42Z

While certainly nothing I say here is new news, I hope that it simply serves as a reminder to us all that one of our greatest recruiting tools is our own agents.

Top of mind consciousness is certainly key with this (just as it is with most things). In overt and subtle ways we need to keep the recruiting message in their minds. This way when they run across another great agent, they will be much more inclined to say "You know, I have really enjoyed working with you and think you would make a great addition to our team. Can I have my broker/manager call you?"

Set it up in the minds of their agents that they WILL run across agents that would be a good fit and what they can say when that happens. In your next sales meeting you could say something like: "You know, I can almost guarantee that at least once, if not twice in the next week you are going to come into contact with an agent from another company that impresses you. When you do, I would love it if you would tell them that you are impressed and that you would love to have your manager talk with them."

You also have to continually remind your agents why it benefits THEM to have more good agents in the office. If you have already set your office up as a team-spirited office in which agents within the office don't see their in-office associates as threats, this will of course make this part of the job much easier. Remind them that the more signs your office/company has in the yards of sellers that the more phone calls come in. The more phone calls that come in, the more buyers are put into your office's network, and the more buyers in your network that you can take to in-house listings, the faster you can sell your in-house listings. It is all a numbers game.

Of course, having some sort of financial incentive for recruiting certainly doesn't hurt either . . . and there are many different models for that. But, still I think the best benefit is the fact that more good agents help to generate more positive energy in an office which makes us all more productive.

Good luck and good recruiting!!

Tell your Broker/Manager a thing or two!!!

2008-04-11T07:49:20Z

Ok folks, here is your chance to let your broker know some things. Here are some questions that brokers are looking for answers to:

Why do you stay at your current brokerage?

What would make you leave your current brokerage?

What kind of training do you want most?

What kind of support are you really looking for from your broker/manager?

What makes you feel appreciated / or unappreciated?

I would like to think that most broker/managers are like me . . . and we want to know how we can best support our agents. However, sometimes it is too late when we find out that we didn't meet the expectations. Help us help you.

Please post some of your thoughts . . . with any luck it will make us ALL more successful at what we do. Thanks for your comments!!

Good luck & good selling!

Climb out of your rut . . . I dare you

2008-04-10T21:00:11Z

Sometimes to get things moving again we have got to do something that we haven't done before. It is easy to become complacent with doing the same things we have always done to generate business, but if we don't throw ourselves a little "curve" every once in a while, it can get boring.

So, here is my challenge to each of you. This week . . . TRY SOMETHING NEW.

Hold a buyer seminar . . . OR
Call your local Rotary and ask if you can be a guest speaker to talk about the market in your area . . . OR
Go knock on 30 doors around a brand new listing in your office . . . OR
Write an article for you local paper regarding market conditions in your area . . . OR
Knock on 3 FSBO doors . . . OR
WHATEVER YOU HAVEN'T TRIED BEFORE

Stretch yourself enough and you will surely grow!!

Good luck and good selling!!

Termite Season . . . check your vacant listings

2008-04-09T18:36:47Z

Just a reminder that in the mid-south it is termite season. One of my renters has already contacted me about a "swarming" issues in one of my rentals. The termite company I use indicated that they are covered up with calls from homeowners.

So, if you represent an out of town seller of a vacant home . . . it would probably be a good thing for you to check on the house just to make sure there isn't a swarm. (Obviously I am not suggesting that you "inspect" the home, just that you make a cursory look around for obvious swarms or issues).

Just a thought.

Selecting the Right Realtor for You

2008-04-09T14:45:42Z

Any time you hire someone to do a job for you, it is best to ask some questions, check some references, use referred providers, etc. It is no different in real estate. In any market, it behooves sellers to do their homework and make sure they pick the best Realtor for their needs . . . but in a "tricky" market it is even more imperative. So, with that in mind, here are a few suggestions and thoughts.

Should you use a friend or relative who is a Realtor? Maybe yes, maybe no. Just because you know and like them, does not make them 1) a great Realtor or 2) the right Realtor for you. Don't necessarily exclude them either, just treat them like anyone else that you interview. Make sure that they have a great track record, a great marketing plan, etc.

In your search, my suggestion would be to start with referrals. Ask your friends who they have used to sell their homes and if they were pleased. If they speak really highly of someone, then put them on your list to interview. If you have no referrals to start with, then look at who you may see as the market leader in your area. Who appears to be getting the job done.

OK, so now that you have a list of a few Realtors that interest you, start interviewing them. Here are a list of questions that you can use to help you determine the best choice for you and your needs:

1. Are you full-time? In other words, is real estate really what you do, or do you have a full-time job doing something else and real estate is a sideline for you? My suggestion . . . go with full-time agents. It is a very rare bird indeed who can do real estate as a sideline and be succesful with it.

2. How long have you been selling real estate, specifically residential real estate? Are they brand new, or seasoned in the business. If someone is brand new, however, don't necessarily rule them out. If they have the right marketing plan, support, and tools . . . they may still be a good choice. Why? Because they are typically "hungrier" and have more time to devote to your home. Of course, don't pass up a seasoned agent, they can save you a lot of headaches because of their experience.

3. What types of education have you had and what designations do you have? This will help you determine who may take there business more seriously . . . who wants to be the best they can be . . . or who has specialized training that makes the most sense for your particular situation.

4. How many homes did you and your real estate brokerage office sell last year? This will help you determine their level of experience and the amount of activity that gets generated in their office. Offices with a lot of listings also generate a lot of buyers (due to ad calls, sign calls, etc) . . . and most offices like to sell "in-house" listings first.

5. How many days does it take you to sell a home on average? How does this compare to the marketplace? What you are looking for here is how they compare with "days on market". For instance, if on average it takes 90 days for a home to sell in your marketplace and the track record for this agent is 45 days . . . then they have a great record. By the way, if they do not know this information, then shame on them.

6. What is your list price to sell price ratio, and how does this compare to the market in general? What you are measuring here is how close to the initial asking price they typically get for their listings. If the marketplace in your area has a list price/sell price ratio of 97% (meaning that homes on average sell for 97% of the list price) and your agent has a record of getting 98% on average . . . again, they are doing better than the market. Again, if they do not know this information . . . shame on them.

7. How will you market my home . . . or tell me about the marketing plan you have put together for my home. This is really key! You need to be sure to work with an agent who has the best plan to market your home to the right prospective buyers AND to the agents who work for those buyers. Putting a sign it the yard and putting it in the MLS isn't usually enough to get the most number of buyers through your home.

8. What other services does your company provide? Do they have good access to service providers such as home repair vendors, closing attorneys, mortgage companies, etc? This can not only help you with your particular needs for getting your home prepared and sold . . . but it also can help to draw more buyers into their network . . . and again, more buyers in their network can mean more buyers coming through your home.

9. What is your business philosophy? Of course, there is no right or wrong answer here, but it should give you some insight into the type of business person the agent is.

10. How will we keep in contact throughout the listing process . . . and how frequently? While again, there is nor real right/wrong answer . . . the best response that you can get is for the agent to ask you in return "What works best for you?". Hopefully they are willing to meet your expectations/needs with regard to how frequently you want to hear from them and in what manner (phone, visit, e-mail, etc).

11. Could you please give me the names and numbers of your three most recent clients? This is where the rubber meets the road. Find out from these clients if they would use the agent again. Are they pleased with the marketing efforts, communication, follow-up, and work ethic of the Realtor?

Be sure also that you like and trust the agent that you choose. It is hard to work with someone that you just don't have a good feeling for.

Hopefully this information has been helpful to you. Best wishes in your search!!

Tracy Kirkley

For more information on the listing process and selling your home, please go to www.TracyKirkley.com.

Just do SOMETHING

2008-04-08T22:14:48Z

One of the founders of our company, Harold Crye, is always working to spur on our agents and we have heard him say on more than one occassion "Just do something". He couldn't be more right. This wonderful business that we are in is not a passive one by nature. Now, that is not to say that for about five years it seemed that anyone who decided to get a real estate license could hold out their hands and deals would fall into them . . . but alas, those days are over. Many of those agents have fallen by the wayside and those of us still in the game are realizing that we need to re-learn or re-visit those basic prospecting tasks that we know to be tried and true and that will put food on our families' tables.

There are so many different ways to find business and clients in real estate, but they won't come running to you just because you want them to . . . so I say to you "JUST DO SOMETHING!" And here are a few different things you could do:

Call or visit FSBO's
Call or visit Expired's
Call around new listings or sales in your office (or better yet, go knock on their doors)
Call your past clients and sphere of influence regularly and remind them how well you would take care of their referrals (take one to lunch every day)
When you have a buyer that you are having a difficult time finding a home for (or if another agent in you office has such a buyer), start calling in subdivisions that fit the buyers basic needs and see if the homeowners know of someone in the subdivision might be thinking of selling.
Work a geographic farm . . . via mail, phone calls, door knocking, etc.
Hold a First-Time Homebuyer seminar
Hold an Investor seminar
Hold two open houses per week (on your listings, or on other agents' listings in your office)

This is just a portion of what we can be doing. Folks, here is the truth about it . . . our #1 job EVERY SINGLE DAY is to find a new client. If we are not focusing on that, we will be out of business in no time. Don't let the hype about the market keep you from working . . . instead let it spur you on to work harder . . .because in a tough market, that is exactly what we need to do, work even harder!!

If you don't really know how to get started, or don't know what to say to some of these folks (FSBOs, Expireds, Sphere, etc), then talk with someone who can help . . . your broker, a fellow agent, a mentor, etc. As well, there is SO MUCH free information given to you by the National Association of Realtors. If you haven't checked out Realtor Magazine Online (http://www.realtor.org/rmohome.nsf/pages/rmohome) lately (or ever), then go check it out now. There is a wealth of information here on putting together different types of prospecting plans.

There are no excuses . . . if you want more business, then go out and get it. People buy and sell houses every day. GO OUT AND GET YOU SOME!

Best wishes for a great selling season!!!

I Will Survive . . . a musical tribute to making it in this business

2008-04-06T21:07:34Z

I WILL SURVIVE . . . my real estate version. In the style of Gloria Gaynor.

First I was afraid

I was petrified

Kept thinkin' I could never sell a house

Or double wide

But then I went to Realtor College

Where the days were oh so long

And I grew strong

And I learned how to get along

And then I went

I found a farm

And I worked at it both day and night

‘Cause that could do no harm

I called up every owner

And worked hard at my plan

So I could sell more houses

Than Shelly or Leigh Ann

And so I go and I knock on doors

I keep hoping that they'll answer

But so far I'm just ignored

But I will never quit, I'll just keep giving it a try

I will not falter

And I'll try hard not to cry

Oh no not I

I will survive

As long as I know how to knock

I know I'll stay alive

I've got all my life to live

And I've got all my time to give

I will survive

I will survive - HEY HEY

Now it takes all the strength I have

to keep going on

But I'll keep knocking at their doors

And I'll go from dusk to dawn

And I'll sell so many houses

That you won't believe your eyes

I just know I can

Make them all raving fans

Then you'll see me

Somebody new

Not a wimpy little Realtor,

But one of the chosen few

And you won't know what hit you

I'll move up the chart so fast

And it will be because of all those

People I've harassed

And so I go and I knock on doors

I keep hoping that they'll answer

But I'm still being ignored

But I will never quit, I'll just keep giving it a try

I will not falter

But it's so hard not to cry

Oh no not I

I will survive

As long as I know how to knock

I know I'll stay alive

I've got all my life to live

And I've got all my time to give

I will survive

I will survive - HEY HEY

So you go, you knock on doors

I just know that they will answer

And you won't be ignored

Just never quit and keep giving it a try

Do not falter

Do not lay down and die

And you'll survive!

I hope you enjoyed my re-written version of this great upbeat song. I have performed it a few different times and it always gets the crowd stirred up. It is a real "pump you up" kind of song . . . and the words really hit true to what we all need to be doing these days.

Why I love this business . . . one of the many reasons!

2008-04-05T21:25:11Z

Today I had a competitive team tennis match . . . we were playing a team from Oxford, MS. Afterwards, while we were snacking on yummy chocolate chip cookies, one of the opposing players asked who from our team actually lived in Olive Branch. I commented that I did and asked what I could help her with. She asked what kind of schools we have . . . because her daughter is thinking of moving down from Memphis. We talked a little bit about the schools and then I told her I was a Realtor. She said, "So am I!". So, not only did I pick up the referral of her daughter . . . but now I have the potential of others down the road (and vice versa). YEEHAW. So this is one of the many reasons I love this business . . . I can go play tennis AND work all at the same time. What other profession has that kind of flexibility!! Now I am thinking that I need to go have all of my tennis shirts embroidered with my company logo . . . since wearing my name tag might be a little over the top. LOL

Olive Branch, Mississippi Real Estate Market Update

2008-03-28T07:39:25Z

Olive Branch, Mississippi

Real Estate Market Update

March 28, 2008

Residential properties in Olive Branch can be found in a wide array of price ranges. There are currently 828 homes listed for sale with prices ranging from just below $100,000 up to over $500,000 . . . with just a few over the $1,000,000 mark. The pricing breaks down as follows:

< $100,000 = 15 homes

$100,000-$149,999 = 125 homes

$150,000-$199,999 = 193 homes

$200,000-$299,999 = 332 homes

$300,000-$400,000 = 125 homes

> $400,000 = 38 homes

The average days on market for these listed homes is 165 days. The average list price is $259,062. The median list price is $235,505.

In the previous six months in Olive Branch there have been a total of 346 listed homes sell. The sold homes for the last six months break down as follows:

< $100,000 = 35 homes

$100,000-$149,999 = 77 homes

$150,000-$199,999 = 97 homes

$200,000-$299,999 = 81 homes

$300,000-$400,000 = 43 homes

> $400,000 = 13 homes

The average days on market for these sold homes was 129 days. The average sold price was $204,176. The median sold price was $179,950.

Based upon the information above there appears to currently be a 14.3 month overall supply of homes in Olive Branch IF no other homes come on the market. This is Absorption Rate . . . the rate at which the current inventory of homes would be expected to sell. The breakdown regarding supply in the price ranges is as follows:

< $100,000 = 2.6 month supply

$100,000-$149,999 = 9.7 month supply

$150,000-$199,999 = 11.9 month supply

$200,000-$299,999 = 24.6 month supply

$300,000-$400,000 = 17.4 month supply

> $400,000 = 17.5 month supply

OK! That is a lot of information and a whole lot of numbers to absorb, so what the heck does it all mean for the average buyer or seller??? Well, here are my thoughts:

BUYERS

Buyers, your best bets for getting the best deals are going to be for homes $200,000 and above. These sellers are in heavy competition, especially with the builders . . . because this is where the majority of the new construction exists. So, does that mean that you should find a house that you like and then lowball it? The answer to that question lies in what the market analysis says for that house . . . this is something your Realtor can prepare for you once you find a house that you like. It is very possible that the seller has priced their home to sell . . . which means they may have it already priced below what the market indicates it should sell for. If this is the case, even in this market, you may still need to act fast and make a reasonable offer, or someone else may buy the house out from under you. However, if the market analysis shows that the home is priced above the market, then get advice from your agent on how low you should offer . . . and be sure that when presenting the offer on your behalf, your agent provides supporting information for why you offered what you did. The seller may still feel insulted with the low offer, but if there is a supporting CMA, it could lessen the sting for them. Also, keep in mind that nearly any time you make a "lowball offer" you run the risk of making the seller mad, which could make them much tougher to negotiate with in the long run. Talk to your agent about this. Also keep in mind that this is NOT the market to overpay for a house . . . unless you can find nothing else you like and you plan on being in the house for a very long time . . . if that is the case, then buy the house you want.

SELLERS

Good luck to you all, whether you are buying or selling. Opportunities exist for everyone if you know what your are doing and hire a great Realtor.

For additional information, don't hesitate to contact me at 662-895-8300 or 901-210-8045.

Tracy

P.S. The information regarding homes listed and sold was compiled from the MLS system of the Northwest MS Assoc of Realtors. It is deemed reliable, but not guaranteed.

Olive Branch, Mississippi

2008-03-20T23:10:55Z

Olive Branch, MS is my chosen hometown and I love living, working, and playing here. Here are just a few of the reasons I love it here:

LOCATION: Olive Branch is located in the northeast corner of Desoto County, MS and just across the state line and south of Memphis, TN. This location gives us the "best of both worlds". We have the benefit of being in a small-town atmosphere, yet we are literally within a few miles of all types of "big city" attractions (international airport, professional sports, theater, major medical facilities, major colleges and universities, great shopping and restaurants, major industry and employers, plus so much more).

SCHOOLS: One of the biggest draws for all of the communities within Desoto County is the great school system. We have award-winning schools filled with the best teachers anywhere. Because the schools are so good, we continue to have an influx of new families moving here. The Desoto County School System is the fastest growing school system in the state of Mississippi and is projected to be the largest school district in Mississippi in 2008. For detailed information on Desoto County Schools, go to http://www.desotocountyschools.org/.

PARKS AND RECREATION: Olive Branch prides itself on having plenty of places for kids of all ages to gather and play. Whether it is the main City Park with its lakes, ball fields, tennis courts, walking trails, pavilions, playgrounds, and more OR the new soccer complex OR one of many neighborhood parks and playgrounds, you are sure to find a spot that is just right for you. With four great golf courses, including a super country club (http://www.obcountryclub.com/), finding a place to work on your game should pose no problem at all.

OLD TOWNE: This section of town is the heart and soul of the city. Per its name, Old Towne is located in the original part of Olive Branch and is full of quaint shops and restaurants, is the location of City Hall, and plays host to festivals and events all year round (classic car shows, Mayfest, street concerts and dances, plus more). For more information on Old Towne, go to http://www.olivebrancholdtowne.com/.

THE PEOPLE: You just can't beat the friendly folks of Olive Branch. Whether it is they Mayor (who will actually return your calls and e-mails personally), your neighbors, or the clerk at the grocery store . . . you just won't find better people anywhere!

Small town southern charm, all of the conveniences of being in a major metropolitan area, great weather, great schools, great people . . . what more could you ask for!?

For more information about all aspects of Olive Branch, including Real Estate, go to the Featured Links section of my website: http://www.tracykirkley.com/. Don't hesitate to send me an e-mail or give me a call if I can answer any questions for you.