More Sellers Jump Into Favorable Market

Daily Real Estate News |      Monday, June 10, 2013

Inventories of for-sale homes are increasing as more owners see rising home prices and faster sales as a reason to try to sell now, according to industry reports.

In April, the number of listings was higher than the level of homes that were under contract in that month, according to a study by the real estate brokerage ZipRealty, which measured listings in 24 major metro markets.

“It’s less of an indication of buyer momentum flagging and more of seller momentum picking up, finally,” says Lanny Baker, the company’s chief executive.

The reports find that homes are selling faster—on average, within 32 days of being listed. In April 2012, that average stood at 48 days for homes to sell. 

“A market in which the sale prices are happening very close to the list prices, a market in which the list prices seem to be moving sequentially higher, and a market in which any of those houses are selling speedily is one that is bringing sellers back,” Baker says. “That makes it feel to a seller that this isn’t going to be a long passive despair that I tried three years ago.”

Source: “Why More Sellers Could Test the Market,” The Wall Street Journal (June 10, 2013)

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Even if They Don’t Complain… Sellers Notice

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A few weeks ago, I wrote a blog called: “How to Wow Your Seller – The Favorit-est Tips” where I listed the results of a little survey I did following a SWS Teleseminar on the subject of knocking the sox off your seller client so that they’d be delighted to tell everyone they know how awesome you are.

One of the final comments on the blog was from my friend Charles Stallions who said “Certainly a lot of great points, I often wonder if the sellers forget that their home is even for sale as they never seem to call either to ask what is going on as well.“

That got me thinking… and inspired me to re-post a blog I wrote several years back about even if seller isn’t asking… he or she is certainly noticing…

“Even If They Don’t Complain… Sellers Notice”

—  If the brochure box is empty… they notice

—  If the brochures still show the original price after two reductions… they notice

—  If their agent doesn’t offer to do an Open House … they notice

—  If no feedback cometh after showings… they notice

—  If the agent doesn’t check in at least weekly… they notice

—  If there haven’t been any showings in a month… they notice

—  If their agent hasn’t updated them on market activity… they notice

—  If their online photos are from two seasons ago… they notice

—  If the only time they hear from their agent is when he calls to ask for a price reduction… they notice

Just because a seller doesn’t complain doesn’t mean he’s happy. And just because he’s not complaining to his agent doesn’t mean he’s keeping quiet elsewhere. Trust me on this. If his agent doesn’t seem to care about selling his home… the seller notices.

Chapel Hill Real Estate Market Trends March 2013

This Chapel Hill Market Trends report is a general indication of the strength of the market in Chapel Hill, NC – specifically in the 27514 zip code area, and homes close to the UNC Campus.  Many of these homes are single family homes owner occupied, though, this close to campus there are some rental properties.  Additionally, in the downtown Franklin Street area of Chapel Hill, you will find new condo projects.

Chapel Hill Real Estate Market Trends for 27514 through March 1, 2013

The median list price in March for single family homes in Chapel Hill’s 27514 zipcode was  $499,950. The list prices increased by 4.37% from the previous month.  This means that in Chapel Hill, we are moving away from Buyer being able to “low ball” offers!  Great news for Spring sellers in Chapel Hill.