In the ever changing market, now (more than ever) it is necessary to be the true expert in our respective markets. Buyers want a deal, so we need to define what a "deal" is to determine the true Value they want to find in a home vs. the media reports that the real estate world is on proverbial life support and the housing market has collapsed.
On the seller side, home owners are looking for a realtor to come in and truly guide them through the process from start to finish in way that wasn't as dire as recently as even 6 months ago.
Somewhere in the middle, we are doing our best to keep clients abreast of the changing conditions in the market along the way.
Here's where Altos Market Research comes into play.
Altos statistics allow you to track week-over-week changes in the market by zip code or county for Single Family Residences and Condos. Their market reports show the changes in inventory, days on market, $/SqFt, and overall trends in the market. This allows you, as the expert, and your clients to have more information and 7 day updates on market changes.
We set up automatic updates by zip code to go to our sellers each week. Not only is the report professional and the statistics are relevant, but it is AUTOMATIC!
Even "cooler", the site allows you to create custom graphs to prepare for clients, put in print advertising (like The Real Estate Book) reports like this one http://www.altosresearch.com/altos/xplorer/MyXplorer.page
I created a report to track Current vs. Absorbed listing inventory (homes that have gone under contract, sold or withdrawn). You'll see a steady pattern in the market over the past 60 days.
This chart is consistent with the market. The past 6 months, homes have sold, on average, in 89 days in St. Louis County. That is taking into consideration all price ranges, shapes and sizes...looking at the county as a whole. Homes that are Active Listings are, on average, 133 days on the market as of yesterday.
What this data tells us is the following:
Homes that ARE selling are exceeding the market trends. As a seller, you have a choice. You can be AHEAD of the market or CHASING it. If you are ahead of the market, your home will sell QUICKLY, ahead of the market averages and closer to your asking price.
When you hear the media, watch the news and read stories about our challenging economy, remember stats and real data tell the story.
It's a great time to be a first time homebuyer. Take advantage of an $8,000 homebuyer tax credit in 2009.
If you'd like to see a sample report, contact scott@altosresearch.com He can tell you more about their reports, the markets they cover as they are national and growing rapidly.
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