|Sent on:||Wednesday, January 2, 2013 8:16 PM|
I hope you had a well-rested fun holiday season, It’s a New year and time to recharge our business and get a new game plan to take your business to the next level ! As we phase out of 2012 and reset our 2013 goals and objectives, some interesting facts have appeared. We have had one solid year of positive appreciation in the monthly average sales price per square foot on homes sold through MLS. It turned negative in August of 2010 and then turned positive again on November 30th 2011 which continued through 2012. Now, one year later, we’ve seen appreciation of around 28% - with the bulk of the gains occurring in the first half of 2012.
Normal sales continue to replace distress sales – even in the last 30 days moving from 60.8% to 65.1%. Wow, we haven’t seen that level of “normal” sales in five years! REOs dropped slightly to 13%. Short sales dropped more significantly from 26% to 22%.
What will 2013 bring? Markets can shift quickly as the last few years have shown. At this time it would appear that the rising prices will continue to lure sellers back in to the market increasing supply, the non informed investors are likely to continue to diminish as higher prices curb their appetite decreasing demand further, and we may find ourselves back in a buyer’s market in 2013. So my advice is to start looking at your inventory and checking your numbers, over the past couple of years you have been collecting these properties with the intent to make a profit may of the home you purchased a couple of years ago are now ripe for a profit….. if you think you may want to list these properties send me the address and I will comp them for you and yes I give a generous investor rate for listing your properties !
P.S. There is no better way for setting yourself up for a successful 2013 than to attend “ The Incubator for Real Estate Investor’s “ monthly meetings, always the first Saturday of the month at 10 am , RSVP for first meeting in 2013!
Geneva Real Estate & Investments\