Chicago and Southern Illinois Real Estate Happenings

 

Hey there!! Have you ever heard of the 80/20 Rule?

Here is a post from Elizabeth Nieves about it.

In theory, the rule says that "80 percent of a given
group of people will do 20 percent of the work given
to it...and 20% of the group will do 80% of the work."

This theory is based on solid scientific observations
over many, many years.

I have my own piece of data to add to this theory!

Just this past weekend (Memorial Day weekend) I
obtained a buyer who is very interested in purchasing 
central Florida real estate to rent out to tenants as
an investment. He has very specific parking needs for
the property, since he will be renting this prospective
home to college students.

I found several properties on the local Orlando MLS
and proceeded to run down the features with my buyer
and we picked out the best ones that would fit his needs.

I called the listing agents of those properties on Saturday
of the holiday and fully expected to have several voice mails
on my phone on Tuesday; they MIGHT be getting paid in
about 3 weeks, right?

NOW, bear in mind, the commission on these properties varies
between $4,350 to $6,000 PER AGENT. So, I ask you.......

Why did only ONE agent out of a total of four have any
kind of answer for me on Tuesday about the parking
restrictions or rules based on the HOA covenants?

AND why did I have NO voice mails from any of the agents on my phone when I checked it after doing
other things this morning?

When I take a listing, if I have a Home Owners Association covenant to deal with, I HAVE A COPY in
my file for the listing, along with the other paperwork needed to CLOSE a sale on the home.

Why, when dealing with such an important issue as
the sale of  hundreds of thousands of dollars in value for a property, do agents sit by and do almost NOTHING to
get the job done?

 

This situation  - Data if you will - fully supports the principle of 80/20.

Only 25% of the agents I called had ANY of the information my buyer
needed on the listings they had for sale. This fully supports that principle...
sad but true.

 

That is why I am a member of the The Ninety-ninth Percentile group
in ActiveRain©..... so many agents just don't get it.....

If you put that principle to this network, fully 72,000 members in
this network are doing almost nothing to their blogs or profiles. The
other 16,000 or so members are getting leads, Google juice and
great SEO for their marketing efforts.

If you are reading this post and up to this point have done almost
nothing to advertise yourself in this network, I encourage you to
become part of the 20% who DO SOMETHING to make their marketing
work!

 

This little slice of life from a real estate
professional was brought to you by:

Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader

Beach and Luxury Real Estate

 

 

 

 

 

 

 

 

 

 

 

Thanks to soul_flame, BarnYard-Babe,
and http://www.flickr.com/  for the
great pictures!!

 

 

Here are some statistics to back up what I
have been saying all along:

The central Florida real estate market is going to
come down gently and the bounce right back.

February, March and April 2008
Single Family Active Listings totals:

• 19,531  (Feb 2008)

• 19,197  (March 2008)

• 19,051  (April 2008)

That is not a BIG  trend, but the number 
of active Single Family Home listings is
headed DOWN-WARD.

 

Here is more factual hard data for you:

 

February, March and April 2008
Duplex, Townhome and Villa Active
Listings totals:

• 2,211 (February 2008)

• 2,100 (March 2008)

• 2,075 (April 2008)

Again, not a BIG slide, but the numbers
speak for themselves.

 

And the TOTAL number of Active Listings
for the three month period:

• 25,984 (February 2008)

• 25,472 (March 2008)

• 25,436 (April 2008)

Clearly this shows a trend......

 

Are you seeing what I am seeing?
Are YOU going to miss out on the falling prices and good mortgage rates?

This analysis of the central Florida real estate
market is brought to you by:

Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader

Beach and Luxury Realty Inc.

   

  

 

 

 

 

Here are the statistics for the area (Orange and
Seminole counties) for the past 3 months.

You tell me what YOU think, ok?

• Median asking prices for homes decreased by 4.09%
• The Affordability Index has increased to 108.81%
• The average mortgage rates have gone down to 5.77% from earlier this year.
• There are over 2800 homes under contract pending to close, a consistent monthly trend UPWARDS from previous months.
• The inventory of available homes to buy is shrinking also, although very slowly.
• The current amount of inventory shows a 22.18-month supply at current sales rates, lower from March 2008's 22.74-month supply and February's 27.32-month supply.
• The market is PICKING UP SLOWLY.

 

Now....why is the media continuing to advertise doom and
gloom when CLEARLY things are getting BETTER (Even if it IS
slow in getting here).

ANSWER: It makes them APPEAR to be honorable harbingers
of "NEWS YOU NEED TO KNOW"....... It also sells papers AND
gets people to tune into the TV news. It is a fact that when
people continue to hear good news, they do NOT tune into
the nightly news casts.... I have no idea why.

I have heard it said that the Media feels that "Bad News is Good News" .

I told everyone about what is happening in the local central
Florida real estate market in my blog submittal entitled,
"The market is not crashing, it is coming in for a landing".

I posted that blog in August of 2007 -- 8 MONTHS AGO.

 

SO --- WHY cannot the media see what is happening in the
market, and why do they continue to inflame the situation?

 

MY GOODNESS, GET A CLUE OUT THERE, MEDIA GIANTS

 

 

This post about what is happening in the central
Florida real estate market was brought to you by:

Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader

Beach and Luxury Realty Inc.

   

 

 

 

 

 

 

This is a brand new listing in Edgewater Heights in the
city of Orlando, Florida in Orange County.

This home is a fantastic example of what an owner
can do with a home over time.

Here is a MAP and the address for the property:

 

 

This home built in 1952 and with LOTS of time and effort put into it, has become quite a property.

It has loads of curb appeal, as you can see from this photo.

Just wait till you see inside and the back yard!

 

 

 

 

 

Take a look at this kitchen!

Recessed lighting, a cooking island, hardwood floors, and LOTS of cabinet space to boot!

This is a place you can cook up a LOT of food for Thanksgiving!!

 

 

 

 

 

Take a look at this wonderful fireplace in the family room!

There are windows galore in this space, making it feel so much bigger than it is!

 

 

 

 

 

 

This is one view of the back of the property from the yard.

Note the abundance of shade! This is a space you can set up lawn chairs and have a great time just getting together with family and friends.

 

 

 

 

 

 

This is another picture of the back yard from a corner of the property.

As you can see, there is a tiled area perfect for entertaining family and friends.

Come and take a look at this wonderful home, you will NOT be disappointed!

 

 

 

 Here is the link to the virtual tour with LOTS more
information on this wonderful property!

Every month I will be doing market updates about MANY
subdivisions for central Florida, Orlando Florida and the
surrounding areas. So, if you want to know about specific
Orlando Florida real estate or central Florida real estate,
just e-mail me and I will get the information to you FAST!

 

Here are links to other Market Reports I have done recently:

• Central Florida Real Estate Happenings..... Lake Nona Market Report for 4/11/2008
• Central Florida Real Estate Happenings..... Buenaventura Lakes Market Report as of 4.11.2008
• Central Florida Real Estate happenings.... Hunters Creek Market Report for 4.8.2008
  

 

This available central Florida real estate listing for sale was brought to you by:

Alexander Harb PSEM®, E-Agent®
The Knights Team Sales Leader

 Beach and Luxury Realty Inc.