Inform market wastewater words Monthly music archive, June 2020 :REAL ESTATE

Happy June.

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Inform without influencing

A customer recently sent me a thank you letter that said, “I’m not sure I would be a homeowner now without you! Her ability to inform without influencing was greatly appreciated. “Informing without interference is one of the best and most succinct ways to describe how I try to do what I do. While my customers come to me based in part on my opinions and expertise, I’m not the one who makes life-changing decisions. My job is to advise, advise, and help my customers know what questions to ask – about the house, the location, and themselves. I’ve never thought about what I do in terms that my customer did but i will do it now.

The market

It’s a good time to buy or sell! No. Just stop.
Things are selling. The inventory (new offers) has decreased, as have the contracts.

Take a quick look at where we are in Charlottesville + Albemarle

Immediately after the blockade on March 13, contracts fell between 40% and 50% year on year, and listings went down about 40%. The specific numbers don’t matter. Listings were far away and contracts too. But they were mostly balanced. And buyers continued to buy, sellers continued to sell, and there was still not enough inventory to meet demand, so prices did not fall.Now (June 16), since the beginning of the year, contracts have decreased by 15% and listings by 22%. To put numbers:

From January 1st to May 31st without new construction

  • Charlottesville – 209 homes were contracted in 2020 and 268 in 2019. New offers, that’s 223 this year and 279 in 2019.
  • Albemarle – 620 in 2020 and 768 in 2019. For new offers this is 754 this year and 854 last year.

Do you care about any of this? Maybe. But you’re probably not looking at the real estate market. you look up Your Real estate market.

I will choose a segment

Detached house (zoning is a conversation we will have later) in Albemarle County, under half an acre, between $ 400,000 and $ 600,000.

Last year from January 1st to June 14th 754 Houses have been listed and are either still active (17), pending (14) or have been sold (723). This year is that number 682 – active (248), pending (225), sold (209).

Of these 682 309 have half an acre or less. Asking price between $ 400,000 and $ 600,000 and we have 148 – 38 active, 68 outstanding and 42 sold. (Last year there were 168, not that many fewer this year.)

My customers typically focus on primary school districts as this is the best way to geographically narrow an area, but we will remain broad for this reference.

Western – 59
Albemarle – 40
Monticello – 49

In short, there are many numbers that conclude that this year is similar to the previous year. This year, the average market share of the 110 days outstanding or sold is 19 and the median 5 (including new construction). Last year, the average DOM of the 165 sold during that period was 27 and the median 5.

Shorter conclusion: do your homework with excellent representation because good things move quickly because there aren’t enough of them on the market.

What’s next? I dont know. And anyone who confidently tells you can predict the future. I am writing a blog post that I am planning for March 1, 2021. I make my predictions and then I will see how right or wrong I was.

Remember me?

A customer emailed me to discuss marketing their home after buying it about 10 years ago. We had talked once or twice in the meantime when she had moved and rented, but I hadn’t been in touch.

When we talked, she assumed that I don’t remember her or the house and was surprised when I told her that I often think of her and her house.

Your house is one of the two houses where I advise buyers to meander the sewer when buying a house that is older than 20 years. I vividly remember how she called me in tears about a week after closing because sewage had got in (I forget, but let’s call it the sink). I told her who to call to get the line and they discovered an original line that had been infiltrated by roots. We did not record the line during the house inspection and tested the systems with clean water.

If you live in a house, don’t just rinse clean water.

So yes, I remembered her and luckily she laughed when I told her why. Tears help to consolidate memories. And stories.

Nest + @ properties

For consumers (90% of you read this note), you would not and will not notice any change. We are happy about this merger. Nest is nest. @ is @. Separate but related. Nest will continue to do what we do – market houses exceptionally, represent customers to the best of our ability and set high standards for our entire family. I wrote on my blog:

We have had countless conversations with colleagues, customers and partners and the simple answer to the question: “What will change?” is not much; We’ll be nest, stay nest, and get better at what we do. ”We have built something special that we, our agents, our franchisees and our customers appreciate. We won’t screw this up.

Sweat the details podcast

We made nest’s Sweat the details Podcast for 40 episodes and we have a lot of fun. You may find the two most recent interesting. Objectively, I think it’s damn good.

What I read

Thank you for reading.

– Jim

Next month

  • Negotiate without a spoon
  • Be unexpectedly quiet
  • How not to steer

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