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Some
considerations for the seller. Well, the volume of sales is quite high
in the Redmond area. In 2005 and the first quarter of 2006, the
marketing picture has benefited the sellers at the resort with over 22%
inflation of most products at Eagle Crest Resort. Part of the listing
agent's responsibility is to advise his clients as to some very
pertinent and revealing histories of the product they are about to
offer up. The purchasing clients are going to be advised as to what
their real estate agent has discovered about the following and the
information is readily available, so knowing what has happened over the
past year is critical to being competitive in the marketplace.
Is
it a seller's market? For the last two years, you bet. Seller's are
obtaining very close to their asking price at closings. Following are
some examples from the year 2004 and 2005 in the Redmond area. Going
into the second quarter of 2006, there seems to be a slight slowdown of
sales, possibly due to mortage interest increases and tendacies to
price out without considering the closed and offered sales prices of
comparable products. There are houses that have been on the market for
in excess of a year, well located, shown a lot but no offers.
Conversely, a very good percentage of homes and lots have offers within
the first week or so as the agents who specialize in Eagle Crest
resales all have more prospects than products. These circumstances
have directed us to commit to vcry significant reductions in our
brokerage fees and our term of listing. Please go to our Newsletter
link on this website and you will find our March of 2006 quarterly
newsletter where these commitments are amplified and also some of the
current events of the area. The source of this information is Central
Oregon Multiple Listing Service:
Redmond area comparisons:
2003 2004 2005
Homes sold: 638 923 1,178
Townhomes sold: 18 60 104
It
can be agonizing for a motivated seller to expose their listing price
that isn't comparable to the other similar offerings and have the
representing agent request a price reduction when the listing is about
to expire. You're a half a year behind the curve.
So, what's
to do? There is an incredible amount of market conditions data
available. If you're considering a 2200 sq ft home with a golf course
view on a cul-de-sac, the following information is available to you
within about 15 minutes: What have 2100 to 2300 square foot homes sold
for in the last 12 months? How much does a mountain view or cul-de-sac
add to the value of the home? How long did it take to sell the listed
properties in this size and price range? How close to the listing price
was obtained? What similar properties are on the market? How much are
they asking? How will my property be marketed? The answers to these
questions and others are available. Ask for them. Our team exposes
every listing on two web sites, Homes and Land magazine, Picture Your
Home(seasonally), The Bulletin and we also advertise in The Oregonian
for the purpose of attracting readers to this web site and to inquire
of us for maps and current inventory statements of properties for sale
at Eagle Crest Resort. Many of our sales come as a result of our open
houses at the resort. Uually, we staff at lease 6 days a week.
There has
been a very high inflationary trend at Eagle Crest Resort in 2004 and
2005 for most products. The economists and some industry specialists
are indicating a slow down. I know this; we have more capable clients
who are contacted by us immediately upon our learning of a fairly
priced home, lot or townhome. We're a bit unique, we think, but other
Eagle Crest re-sale specialists also have their client data base. We
count on them and they rely on us for co-op sales. If you consider
marketing with "The Don Montgomery Team" at Coldwell Banker Mayfield
Realty, I can assure you that you will know exactly where you are in
the market place on your list date. If the market gets better during
the listing time frame, I have no problem with advising my clients
"It's time to raise the price." Virtually all of our industry is at
Eagle Crest Resort.
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