What’s Happening in Walton High School Area?

What’s happening the in the Walton High School area?

The standard answer comes from the MLS reporting, but the best answer comes from an in-depth study using FMLS raw data which requires an extensive manual process. This step is regarded as critical because it is very revealing and relevant when counseling sellers on how best to prepare and position their property to improve the opportunity to net more at closing, in less time. It is the MGR business model, local knowledge, and depth of experience that brings about the delicate balance between these opposing forces. So why the need for hours of work when push button MLS reporting is available?

First, the MLS “Original” List Price is a bit of a misnomer as the OLP comes from the most recent listing and not the initial listing in a multiple listings scenario; i.e., when more than one listing has been used to market a property. As show below, the average homeowner goes through about 2 listings in their effort to sell.

Second, the MLS “Total” Days On Market does not always reflect the entire amount of time a property has been offered for sale, and especially so in a multiple listing scenario due to MLS reporting rules.

Third, the MLS system is not currently built to segment results based on whether or not price changes were introduced.

Fourth, is the granularity needed to isolate the events down to the elementary school and price range level. More detailed information leads to better and more confident decision making.

The featured chart (in seasonal colors of red/green) illustrates two things; a) what happens when property is initially offered for sales at the Right Price (no price changes were required), and b) how this ratio varies among the upper price ranges.

Directly related to the falling SP/OLP% is the corresponding increasing days on market when the Right Price has not been identified.

These stats are for the higher value resale Walton High School single family detached homes in just four elementary schools (East Side, Mount Bethel, Sope Creek and Timber Ridge) because it is the focus of my business, and clients that fall into this slice of the market appreciate and benefit from this concentrated effort.

Below is the summary section of the reporting for the List Date 1/1/18 – 11/20/18 with List Price $800k – $999k, comparing among other things the variance between the MLS TDOM and MGR SDOM (seller days on market). It is very enlightening!

$800k - $1m Current Status v9

Contact me when you plan to sell and I’ll be glad to review this information in detail and other aspects of the MGR Best Home Marketing approach to selling higher value property.

 

False Start

The homeowner who decides to sell their house enters a competition regardless of whether they list For Sale By Owner (FSBO) or with an agent.

In a track meet, an initial false start by one restarts and renews the race for all, but not so in real estate. Placing a For Sale sign in the yard officially enters them in the race but a false start divides the field into those that truly participant (receive offers and close) from those that become spectators (watch the market activity and are left to wonder).

Continue reading “False Start”

What can WHY and ‘Y’ mean to you?

Our WHY is found in our business model, vision, mission, goal and result statements, and it is a simple ‘Y’ that changes the perspective from OUR interest to YOUR best interest. Continue reading “What can WHY and ‘Y’ mean to you?”

Who To Choose?

How to choose the right agent to sell your home? It’s not easy if you take the decision seriously. When can contacting just one agent be considered a best effort?

The National Association of Realtors (NAR) endeavors to provide insight into this topic via their annual surveys which report fairly consistent answers to: “How did you find your agent? How many agents were contacted before selecting one? What was the most important factor in choosing an agent?” Continue reading “Who To Choose?”

When The Sun, Moon & Stars Align

When the sun, moon and stars align the stage is set for an awesome astronomical experience. Similarly, Miller Group Realty utilizes its Best Home Marketing approach to set the stage for an optimal outcome and clients Moved By The Experience.  How do we set the stage? Continue reading “When The Sun, Moon & Stars Align”

Sellers Must Take An Active Role In The Sale Of Their Home!

Sellers must take an active role in the sale of their home, even if a listing agent has been hired. This may seem contradictory but it is to your best interest to do so, and here’s just one reason – To hold the agent accountable. Continue reading “Sellers Must Take An Active Role In The Sale Of Their Home!”

Can A New Listing Be Under Priced?

“Can a new listing be under priced?” I hear this question frequently.

The general consensus seems to indicate the answer is “No” because an under priced listing will be bid up to the fair market value.

This answer and reasoning is really a response to a different question; i.e., “Will an under priced property sell for the fair market value?” Continue reading “Can A New Listing Be Under Priced?”