Archive for November, 2008
Looking For Opportunity?… Create It!
November 24th, 2008 categories: Beyond Real Estate
I’ve been wracking my brain trying to think of something positive to write about. It’s hard to find good news right now, and frankly I’m sick of all the negative news. I’m a positive person by nature but if the Dow drops another 400 points in one day, I’m going to scream.
My Associate Sarah and I spent the morning discussing how important it is to stay positive, to create opportunities and not fall victim to all of the fearful thinking that so many people are buying into right now.
Now more than ever, it’s critical to expect positive results, to feel and be optimistic. I believe that what you focus on expands, and that our attitudes, good or bad, sets the course for our life’s events.
Things are challenging out there right now, there’s no denying it. But we must stand up to fear and negativity and fight back. One of my favorite quotes is from Gandhi and seems more relevant now than ever…..
“Be the change you want to see in the world”
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Prescott Real Estate- October 2008 Market Update
November 17th, 2008 categories: Market Update, Real Estate News
The data used to make the chart is gathered from the Prescott Area MLS. The data in the MLS is deemed reliable but not guaranteed. This data is for October 2008, for single family homes, not including condos or mfg. homes. Residential sales are homes that have closed escrow.
Below is an update for the Prescott Real Estate market as of 11/17/2008.
The number of residential homes currently listed for sale in the City of Prescott is 1,094.
That number is down from 1,186 in June. I hear people talking about how many homes are listed for sale in Prescott, but the number of homes on the market is actually dropping, which is a good thing! Homes are also taking much longer to sell which makes it feel like everything is for sale.
Year to date, 576 homes have sold in Prescott.
Our sales are down approximately 30% from this time last year. 37% from 2006.
On average, the number of days it takes to sell a home in Prescott is 194.
In October 2007, the average days on market was 158. October 2006 was 122 days.
I recently showed property to some buyers that I originally met with in July of 2007.
We met again in October of this year; several of the homes we looked at in July 2007 were still on the market over a year later. Interestingly enough, the prices of those homes had barely been reduced from where they were listed in July 07.
Vacant Land; The Real Victim.
13% of the vacant land currently listed has sold this year. Year to date sales for vacant land stands at 102, down 49.25% from last year. If land continues selling at the current rate of sale, it will take 12.8 years to sell what’s currently on the market. Unless you are willing to take a huge hit on the price of your land, I strongly recommend holding on to it until market conditions improve.
The chart below is for the City of Prescott and Williamson Valley.
| Price Range | Residential Properties Currently On The Market | Residential Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 226 | 22 | 10.07 |
| $300,001 to $500,000 | 383 | 18 | 21.28 |
| $500,001 to $800,000 | 245 | 11 | 22.27 |
| $800,0001 to $1,000,000 | 63 | 2 | 31.50 |
| $1,000,001 & above | 90 | 2 | 45 |
| Totals | 1,094 | 56 | 19.54 |
As always, please feel free to contact me with any questions.
Regards,
Sherry Huffman
Realtor-Associate
The Huffman Group, Realty Executives
928-533-1833
928-441-1201 e-fax
sherry@thehuffmangroup.com
www.theHuffmanGroup.com
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Imagine All The People……Post Election Thoughts
November 11th, 2008 categories: Beyond Real Estate
It’s been a week now since the election and all of us have had a chance to sit back and soak in the results of this historic election.
Blogging about politics is something I avoid like the plague, but the past two years have been such a wild ride I thought this was a good time to pause and share my thoughts.
This election has been very emotional and as Americans, every one of us have felt strong opinions and emotions about the issues that face us. It seems we are constantly showered with bad news; the housing crisis, the credit crisis, the stock market, the war…. We long for good news and it seems slow in coming these days.
For the past few months our office has been abuz with conversations about the candidates, debating questions and answers. Everyone of us were excited and somewhat humbled about being involved in this historic election. Our diverse group ranged in ages from 22 to 55 and knew knew our selection for President was one of the biggest decisions we would ever make in a voting booth. Most of us were undecided on many issues, but made it our mission to find answers to the many questions we had.
During the final week of our political Q & A sessions, our group decided to hold an “after the election” brunch. We had all enjoyed our political soul searching journey together and wanted to share our hopes for the future, the end of this long election, and to pledge our support to our new President whoever it was.
So this morning we all drank champagne and toasted to a new beginning. We saluted the United States and shared how lucky we all are to call this place home. Not all of us voted for the same candidate, it was about 50/50. One thing that we all agreed on is that it’s now time to come together and support one another as Americans. To move our country forward one person at a time. Today, we all committed to making that effort.
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VOTE!
November 4th, 2008 categories: Beyond Real Estate, Real Estate News
If you don’t do anything else today, be sure you get out and vote.
With so many important topics on the ballot, it is our duty as Americans to be involved in the voting process. We all have a voice and every vote counts!
Remember, if you don’t vote, yo
u can’t complain.
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