2011 Final Newsletter
AD Smith Team Newsletter. (First one of 2011)
Greetings Friends!
I hope this note finds you and yours well and that you'll enjoy the Fall 2011 AD Smith Team newsletter. OK, well the truth is it’s the first newsletter of 2011…but it’s still the Fall 2011 newsletterJ
You’ll find:
1) Much thanks & an update on my personal business
2) News on the upcoming 6th Annual AD Smith FREE Basketball Clinic
3) Email me for a FREE Pumpkin at Herrick Farms and,
4) The latest Local and National Real Estate news
All the best!!
AD
PS. As always anytime you have Real Estate questions or concerns I’m happy to be a resource in any way. Popular questions of late include inquires on
* Short sales * First Time Home Buying * Buying Distressed Property
* Avoiding foreclosure * Low Interest Rate News * Buying Investment Property
A Huge Thank You!
A quick update on my personal real estate business the last year plus.
While many see the current real estate market as severely troubled, I’m at least pleased to report it’s not all bad. While market pricing as a whole certainly hasn’t fared well the past few years, there still is a great deal of buying and selling going on. I just finished up the best 4 month stretch I’ve had since I started in 2005.
There is no question that the influx of distressed properties (short sales and foreclosures) has negatively impacted the market nationally and locally. The flip side, however, is that we’ve never had lower interest rates, the affordability for 1st time and repeat buyers is at it’s best in more than a decade, and we’ve had a huge influx of 1st time investors taking advantage of low pricing and low costs for borrowing. (There are some really good investment deals out there on distressed properties) Whether good or bad….I see all of these scenarios on a daily basis in my business and I’m always happy to be a resource to answer any questions/concerns.
Long story short; I’ve been extremely fortunate to have continued growing my business in this somewhat challenging market and I absolutely have so many of you to thank. Because of your help, this will be the 3rd straight year I’ll finish in the top 1% in total sales in Lane County and also as the top individual agent at Keller Williams. 90%+ of my business over the past 5 years have been by referral and I wanted to take a quick moment to THANK YOU for such great support. I’ve been blessed to have the great support of so many old and new friends and look forward to growing those relationships in the future. Thanks again!
6th Annual AD Smith FREE Basketball Camp!
Mark your Calendars for December 17th, 2010 at Meadowview School in Eugene.
More details to come but K-2nd Graders should be from 9am-11:30am and 3rd-6th graders should be from Noon-3pm. Online registration will be available late November at www.adsmithteam.com
Our K-2 Series for Kinder-2nd Grade Boys and Girls will take place in January/February. (More details on that late November)
Click here for pictures of camp from last year.
Halloween Treats!
I have about 20 extra of these CAP (Client Appreciation) Cards for FREE Pumpkins at Herrick Farms. If you’d like to have one just drop me an email with a mailing address and I’ll get one to you right away.
Most Recent Lane County Real Estate Market Stats
(Stats trail 6 weeks from real time)
August 2011 Residential Highlights
Sales activity in Greater Lane County continued to rise in August 2011, as closed and pending sales both saw growth compared with August of the previous year.
Comparing August 2011 with August 2010 shows closed sales were up 10.1%, while pending sales increased 15.1%. New listings fell 17.9%. See residential highlights table below.
A comparison of July 2011 with August 2011 shows that closed sales rose from 253 to 273 (7.9%). Pending sales were up from 302 to 336 (11.3%). New listings fell from 491 to 473 (-3.7%).
At the month’s rate of sales, the 2,099 active residential listings would last approximately 7.7 months, 3 months lower than inventory in August 2010.
Sale Prices
Comparing August 2011 to August 2010, the average sale price fell by 11%. The median sale price also went down 15.4%.
Comparing July 2011 to August 2011, the average sale price dropped from $226,200 to $199,600 (-11.8%). The median sale price also decreased from $192,000 to $175,000 (-8.9%).
Year-to-Date
Comparing January-August 2010 with the same period of 2011 shows closed sales dropped 6.9% (2,081 v. 1,937). Pending sales also fell 4.5% (2,297 v. 2,193), while new listings went down 22% (4,994 v. 3,896).
When comparing market activity in the Greater Lane County area in August 2010 with August 2009, closed sales fell 6.8%. Pending sales declined 13.9%, and new listings were down 1.5%.
A comparison of August 2010 with July 2010 shows that closed sales increased 12.7% (248 v. 220). Pending sales grew by 4.3% (292 v. 280), while new listings decreased 15% (576 v. 678). At the month’s rate of sales, the 2,643 active residential properties would last 10.7 months.
NATIONAL Real Estate News
Long-Term Mortgage Rates at Record Low
Recent Positive Trends in Real Estate Foreclosure
Baby Boomers Buying Dream Retirement Homes
Low Prices Jump Home Sales in August 2011
All the best!!
AD