Wednesday, March 25, 2009
New home sales rebounded unexpectedly last month, although numbers remain near a record lows.
The U.S. Commerce Department said February sales rose 4.7 percent to a seasonally adjusted annual rate of 337,000, and that figure was up from an upwardly revised January figure of 322,000. Even after the revision of January’s sales numbers, the month remained the worst on records dating back to 1963.
Despite the jump, February’s sales were still down by more than 40 percent from the same month a year earlier.
The median sales price fell to $209,000, a record 18 percent drop from the same month last year. The median price is the midpoint, where half sell for more and half for less.
At the current sales pace, the government said it would take a year to exhaust the supply of new homes on the market. The glut of unsold homes and competition from deeply discounted foreclosed properties puts even more downward pressure on prices and on builders’ profits. At the same time, lower prices create buying opportunities for more potential buyers.
In February, sales in the South rose 9.7 percent from a month earlier, and 6.6 percent in the West. They dropped 9.1 percent in the Midwest and 3.3 percent in the Northeast.
The National Association of Realtors said Monday that February sales of existing homes grew 5.1 percent to an annual rate of 4.72 million, up from 4.49 million units in Januar
Courtesey of the Phoenix Business Journal
Make sure your home is easy to show!
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. The first thing a good agent will do when working with buyers is talk to the buyer and learn what kind of home they are looking for. Then the agent will search all the available homes for those most closely matching what the buyer wants. Next, the agent puts together a list of the best matches to go show to the buyer. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing.
If you can’t do a lock box, you need to be sure that you make it as convenient and easy as possible for other agents to show your home. If they call, do whatever you have to do to accommodate letting them show your home to buyers on their schedule. If you don’t, the agent will probably show the buyer other homes, and if that buyer makes an offer on one of them, you’ve just lost a great opportunity.
It’s best if you can leave when the agent and buyer arrive to see your home. Buyers won’t feel comfortable with you there, and it could sour an otherwise good impression.
Contact Craig Connelly for more help and advice on getting your home sold................
Why Choose Me! | Your FICO score | Local Links | Client Testomonials | About Lexington S.C. | About Columbia S.C. | About Lake Murray S.C. | For Sellers | Local Schools | Area Golf Courses | Area School Report Card | Area Map | University of South Carolina | MLS Home Search | Lexington Real Estate Blog | Closing Costs | Real Estate Glossary | Our Featured Homes | Site Map | My Blog
Copyright © 2010 Craig ConnellyPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.