Tag Archives: Coldwell Banker

Coldwell Banker Realty Check — June 2012

MarketLeader

In real estate, as in many things in life, size and experience do matter. Buying or selling a home is often the single largest financial decision any of us will make in our lives. It’s an extremely complex and time-consuming process, with lots of exciting opportunities but plenty of potential pitfalls as well. This is no time to take a chance by working with an amateur.

Especially in today’s challenging market, it pays to use the best real estate company in the field. Hiring the top real estate brokerage means you’re working with the most successful company in your local market, whose agents have a long and proud track record of efficiently and effectively marketing properties and helping consumers just like you find the home of their dreams.

And in Northern California, that undisputed real estate market leader is Coldwell Banker Residential Brokerage.

Coldwell Banker’s record of success dwarfs all other real estate brokerages in the Sacramento-Tahoe area. The company’s market share for sales volume is nearly twice as much in Northern California as its closest competitors so far this year and nearly three times the market share of the third place brokerage.

Through its internationally renowned Coldwell Banker Previews® program, the company leads the luxury home market in Northern California, representing more than 22% of all dollar volume sold of properties over $1 million.

This kind of professional success doesn’t just happen. It’s earned by the hard work of nearly 800 of the most experienced and savvy Realtors in the business who work for Coldwell Banker Residential Brokerage’s 13 offices in the Sacramento-Tahoe area. Their proven track record is just one reason why buyers and sellers, year after year, come back to Coldwell Banker for all their real estate needs.

Because Coldwell Banker’s sales professionals have handled so many transactions, they truly understand the ins and outs of the local real estate market. Our Realtors not only know the homes and specific neighborhoods in our communities, they often know the sellers and potential buyers, the local schools, community parks, commute times and even some of the best restaurants for great pasta!

Working with the industry leader also means having the networking advantages that small brokerages can’t touch.

The real estate business has changed so much over the years. While the buyer of your home may still come from across town, there’s also a decent chance that he or she may come from across the country – or even across the Pacific or Atlantic. Having the local, national and international reach of Coldwell Banker expands your marketing potential in an increasingly global economy.

Coldwell Banker Residential Brokerage has 62 office locations and more than 3,600 sales associates throughout Northern California.  Last year the company handled 13.5 percent of all dollar volume sold in Northern California, more than double its nearest competitor. In all, the Coldwell Banker organization boasts 85,000 sales professionals in 3,100 offices across the country and more than 600 additional websites around the globe..

Some other advantages of working with Coldwell Banker Residential Brokerage, the market leader:

The best agents in the business. A real estate company is only as good as its individual agents. Year in and year out, our agents often rank among the top Realtors – not just in our local market, but throughout the United States. Fourteen of Coldwell Banker agents in Northern California have been ranked among the top 1000 Realtors nationally for sales last year by the prestigious Wall Street Journal annual survey released in June.

  • The best agents in the business. A real estate company is only as good as its individual agents. Year in and year out, our agents often rank among the top Realtors – not just in our local market, but throughout the United States. Nationally, Coldwell Banker scooped up more spots than any other brand in this year’s prestigious Wall Street Journal/Real Trends ranking of the top 1,000 Realtors in America. A total of 218 Coldwell Banker agents made the list for sales volume and number of transactions, fully one out of every five honorees!
  • Superior professional experience. Our agents are some of the most seasoned veterans of the Sacramento-Tahoe market. Many have helped consumers buy and sell dozens or even hundreds of homes over the years. Our highly skilled agents have managed to succeed for their clients in good times and in bad, in booming markets and in recessions.
  • Local market knowledge. There’s an old saying that “all politics are local.” The same can be said about the real estate market. It doesn’t matter what the national real estate market is doing; what matters most is what is happening here in the Sacramento-Tahoe region. You need a real estate broker that knows your market and the homes within your price range. Coldwell Banker agents know the ins and outs of different neighborhoods, how best to effectively market your home or which areas might provide you with the best home to suit your needs and budget.
  • A leader in corporate relocations. Business relocations account for a number of homebuyers in many cities. Few real estate companies generate more corporate relocations in Northern California than Coldwell Banker Residential Brokerage. Each year, we assist nearly 5,000 relocating buyers and sellers. Our connections mean we’ll show your home to corporate transferees that most real estate companies don’t have access to.
  • Incomparable marketing support. Coldwell Banker Residential Brokerage provides critical exposure of your home through a sweeping, aggressive local and regional advertising presence. The power of global advertising with the most recognizable brand name in real estate puts your listing in front of an ever-increasing pool of potential buyers.
  • Cutting-edge Internet exposure. Nearly nine out of 10 homebuyers begin their real estate search online. It’s no longer enough to use traditional print and direct mail advertising to sell a property. Coldwell Banker offers not just one but a host of popular websites to match buyers and sellers. Besides Californiamoves.com and ColdwellBanker.com, we tap into sites hosted by the New York Times and Wall Street Journal, REALTOR.com, Trulia.com, Yahoo Real Estate and many more.
  • Superior training for agents. The real estate business is a very challenging and complex field that changes all the time. That’s why it’s critically important for agents to stay on top of the latest professional and marketing issues. Our agents receive comprehensive training in all aspects of the real estate transaction process. By receiving the most up-to-date professional education, our agents make sure you receive the very best possible support to meet your real estate goals.

Buying or selling a home is never easy. But by working with the best real estate company in the industry you can make the experience a whole lot easier. If you’ve been thinking about buying or selling a home, now’s a great time to jump into the market. And Coldwell Banker Residential Brokerage professionals are ready to help you get the most for your property or find the home of your dreams. Just give me a call and we’ll get started today!


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

One Cool Thing — A Good Time To Buy


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

One Cool Thing — Competition to Buy Remains High


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Coldwell Banker Realty Check — May 2012

SAChousingturning
With spring in full bloom, there is growing evidence that the nation’s housing market is shaking off its long hibernation and heating up once again. Several recent industry studies have shown that home prices are stabilizing across the country and that the U.S. housing market may have already begun a turnaround.

This comes as welcome news for buyers, homeowners and potential sellers. Some prospective buyers have been waiting for the “all-clear” signal that the downturn is over before jumping back into the market. And all homeowners, of course, have to be encouraged by stabilizing prices and signs that demand for real estate is accelerating once again.

One of the most followed analysts of the nation’s housing market issued a new report this month entitled: Housing Markets Stabilizing, Affordability at 40-Year High. The Fiserv Case-Shiller analysis of home price trends in more than 380 U.S. markets found that the majority either rose slightly year-over-year or had very modest declines -– the smallest since the housing recession began.

“Nearly all non-price metrics – existing home sales, rising home order volumes, increased spending on home improvement, a jump in multi-family construction – indicate that the housing sector hit bottom last year and has started along a path of slow recovery,” says David Stiff, chief economist, Fiserv.

Fiserv said the rebound in the market will be driven by investors who buy primarily in lower-cost markets, and then spread to the rest of the market segments. The firm expects that home prices, which it says generally lag sales activity by nine to 12 months, “will stabilize by the end of this summer and then rise at an annualized rate of 3.9 percent over the next five years.”

Nationwide, home prices are roughly 35 percent lower than their peak in the first quarter of 2006. Due to this “unprecedented decline and record-low mortgage rates,” Fiserv noted, “affordability has improved dramatically.”

The monthly payment for a median-priced home using a conventional 30-year mortgage now represents just 12 percent of median-family income – the lowest percentage on record (since 1971), the firm said.

Analysts at Fiserv say record-level affordability will eventually bring more first-time and trade-up buyers back into the housing market, especially as the cost of renting an apartment continues to increase and new households are formed. In many parts of the country, it is now actually cheaper to buy a median priced home and build up equity than to pay rent to a landlord each month!

No doubt the housing downturn and resulting drop in home equity were contributors to the recent recession. “However, very low prices have also started to draw in more buyers,” Fiserv said. “As demand for houses ramps up, construction activity will increase and residential investment will begin to make a substantial contribution to the recovery and GDP overall.”

Other widely followed industry analysts and media outlets are also growing more bullish on the housing market. For example, a recent Forbes magazine article declared, Home Prices Are Stabilizing, Signifying A Housing Market Bottom.

In the article, Forbes reporter Morgan Brennan says that data from a variety of research firms “reinforces a notion already asserted by many an economist, real estate agent and Wall Street Investor that 2012 is the year of the bottom.”

The law of supply and demand seems to be at work here. While the economy steadily improves and buyer demand grows, housing inventory levels have been steadily declining. Forbes reports that at the end of the first quarter this year, “there were 2.4 million existing homes on the market, nearly 22 percent less than last year.”

The shrinking inventory levels have actually led to bidding wars and upward pressure on prices in some areas. We’ve seen that in some parts of the Sacramento and Tahoe region, where attractively priced homes in good neighborhoods often attract three, five, or even more offers and often sell for over the asking price.

JP Morgan CEO Jamie Dimon, in his annual letter to investors, joined the chorus of housing market bulls. Dimon noted the dwindling supply of homes and condos for sale as one of nine reasons why he believes the housing market has reached a turning point.

As inventory of homes available for sale has been steadily declining, the U.S. population has grown by 3 million people per year since the housing crisis began four years ago, Dimon points out. At that growth rate, there would typically be a need for 1.2 million additional housing units, but builders are producing far fewer homes today.

As the job market continues to improve, demand for housing will quickly outpace supply, Dimon argues.

According to Forbes’ sources, completed home sales jumped 4.7 percent in the first quarter of 2012 and pending homes sales rose 12.8 percent since March 2011. Forbes reported that. “As inventory levels continue to tighten, a recovery, however nascent, can begin to materialize.”

Growing sales and a shortage of inventory are already having an impact on prices. The National Association of Realtors reported that in the first quarter of 2012, the median existing single-family home price rose in 74 of the 146 metro areas that the association follows. By comparison, in the fourth quarter of last year only 29 metro areas saw price increases.

Real estate research firm CoreLogic released data this month showing that home prices nationwide, including distressed sales, rose 0.6 percent from February to March for the first month-over-month increase since last summer.

Mark Fleming, the chief economist for CoreLogic has reported that “This spring the housing market is responding to an improving balance between real estate supply and demand, which is causing stabilization in house prices.”

While there have been signs of a balancing market the past couple of years, Fleming said the difference this year is that stabilization is occurring without the support of tax credits and in spite of fewer distressed sales.

So where does this all leave us? If you’ve been waiting for the “all-clear signal” to get into the market, the time may be here. While no one knows for sure when a turnaround happens until after it happens, there is growing evidence that the housing market has indeed begun to rebound.

If you’ve been thinking about taking advantage of record affordability and attractive home prices, now is the time. Coldwell Banker Residential Brokerage is ready to help you get into the home of your dreams while the market is still in your favor.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Coldwell Banker Realty Check — April 2012

SAChomeshortage

After several years of an oversupply of homes on the market and an undersupply of qualified buyers, the tables have turned for the Sacramento and North Lake Tahoe housing markets. It may be hard for some consumers to believe, but our local real estate market has bounced back in a big way over the past year. Eager buyers are once again out in force ready to purchase their next home. But ironically, the only thing stopping them is a serious shortage of homes for sale!

We’ve come a long ways from the recessionary days when homes sat on the market for many months or even a year or longer waiting for a buyer. Today, properties are once again being snapped up quickly, often with multiple offers due to the shortage of inventory. While this imbalance is frustrating some would-be buyers, it is also creating a great opportunity for savvy homeowners who have gotten the message that now may be the best time in many years to sell their home.

In the Lake Tahoe market, listing inventory for is down 25 percent from last year at this time. In parts of the greater Sacramento area, homes for sale are down even more – as much as 50 percent in some communities. This comes as the economy gains momentum and the job market and the financial markets improve – all providing more ready cash and incentives for buyers to purchase. The result is that there are more offers for good homes for sale. Sellers are getting higher prices and properties are moving faster than they have in years.

As a result of this shortage of homes for sale in Northern California, we are back to seeing offers with no contingencies in some cases, and buyers making offers on several properties before they actually get into contract on one. Multiple offers over the asking price by 10 percent or more is not unusual in some prime neighborhoods. In one extreme example, there were 62 offers on one property in Sacramento recently.

The Sacramento and Tahoe areas aren’t alone. According to the California Association of Realtors, the state’s overall housing inventory declined in February, with the unsold inventory index for existing, single-family detached homes decreasing to 5.3 months, down from a revised 5.7 months in January and down from the 7.5-month supply in February 2011. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

Adding to the strong buyer demand are record-low interest rates. Interest rates fell to historic lows again in April. Thirty-year fixed-rate mortgages averaged 3.87 percent, down more than 1 percent from a year ago, according to Bankrate.com. Fifteen year fixed rates dropped to 3.11 percent and adjustable-mortgage interest rates were 2.73 percent in April.

To be sure, the housing market is once again coming alive. Real estate agents are seeing 80-100 visitors at some open houses, multiple offers are no longer exception, but the rule in many communities, and buyers are showing a sense of urgency perhaps out of concern that record low interest rates could be heading higher before long. Some recent comments from our local managers:

  • One Elk Grove home received 33 offers while another had 20 offers after just one three-hour showing on a Saturday afternoon.
  • A home in El Dorado Hills listed at market value attracted 12 offers, some all cash. It sold for nearly 10 percent over the asking price and closed in 19 days.
  • Another home in Placerville, listed for more than what the agents thought market value to be, received seven offers, one all cash, and went pending for 10 percent over the list price.
  • The Tahoe market is beginning to experience multiple offers on properties that are appropriately priced for the market and typically for homes that are priced below $500,000.
  • Said one manager: “It doesn’t seem to matter if the price range is $250,000 or $750,000. A good house that can sell and close will get multiple offers.”

Sellers need to sense the same pent up demand, excitement and urgency in the market that buyers have sensed for the past year. They need to take the long postponed leap to list their homes for sale now.

Simply put, there just aren’t enough homes on the market to meet the tremendous demand from buyers. And this is true in all price segments, from small starter homes and condos right up to multi-million-dollar Previews properties.

The days of buyers being only interested in distressed properties at bargain basement prices are over. Homebuyers are pounding the pavement looking for good, well-maintained properties at fair prices in every segment of the housing market.

The real estate market has always come down to two simple factors: the law of supply and demand, and consumer confidence. Right now, both of those are creating a sellers’ market in the Sacramento and Tahoe area. Consumers are feeling more confident as the economy picks up steam and the stock market turns in strong gains in 2012. Clearly, the scales of supply and demand are tipping heavily in favor of sellers today.

Smart, strategic homeowners understand all this, and they’re making their moves right now – not six months or a year from now. They’re the ones getting multiple offers for their home because there just isn’t a lot of competition for buyers’ attention. They’re out there now, before everyone else joins the “house party” and tips the scales back in favor of buyers once again.

If you’ve been thinking about selling your home, now is the time. I’m happy to answer any questions you may have – and to help you get the very best possible price for your home while demand is so strong.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com