Here I am, broker and lead of a Denver real estate team here in the heart of the country. We’ve had our share of challenges. However, we continue to invest into our business and persevere and it’s paying off. When others are asking, “How’s business?”, we can truthfully say, “You know it’s great. In fact it’s been better these past several months than during the past few years.”  Sure, it’s not as good as it could be but it is better. I’ve had to make tough but obviously necessary decisions and moves towards achieving the end goal of coming out of this lull on top of our game.

Moving Our Office

I recently moved from a small boutique real estate firm to one of the largest and fastest growing brokerages in Colorado. This move helped to bring down costs while expanding the team’s opportunity. Overnight, I increased team incentives via lower fees, and vastly increased my access to in-house agents, now candidates for my team. Instead of hiring new members from outside my company, then recruiting for my team, now I simply need to put the word out to the office.

Hiring Team Support

With some of the savings on the overhead, I hired my first administrative assistant. I’ve spent many, many hours trying to keep up with the vast amount of work I’ve created for myself and now it was time to share. By lightening my load, I’m better able to focus on the larger opportunities and issues at hand. I’m looking at everything from virtual outsourcing, to engaging consultants, to hiring hourly and even salaried employees. Continue reading this post

Want to make your real estate agent cringe? Say any of these 5 things:

“We would like a tour.”

This usually translates into, “We don’t know the area. We are not ready to buy but would like you to drive us around for several hours showings us the area to see if we like it.” Despite what you may think, real estate agents love to sell homes but really do not want to give tours. If you have been selling real estate for awhile then you have probably given a tour. From my personal experience, people who are unwilling to hop in their own car and tour themselves around are not ready to buy.

“I’d rather find a house and then deal with financing.”

Years ago when just about anyone could get a mortgage this was not such a big deal. However, today it is a different story. Lending guidelines have changed dramatically. The last thing a real estate agent wants to do is go out and show a bunch of houses only to find out later that the buyer cannot get a mortgage. It seems like the pendulum has shifted too far to the other end. I have recently seen some very qualified buyers not get approved for financing. Continue reading this post

In July, HomeGain, the first company to provide free instant home valuations online, released the second quarter results of our nationwide survey of over 3500 home owners and 900 current and former HomeGain members. Our survey asked their opinions on home values and what they thought of President Obama’s performance as President. On the HomeGain blog we published the complete 2nd quarter 2010 national results as well as the complete 2nd quarter 2010 regional results, including commentary from real estate professionals.

Recently, we published the results of the 2nd  quarter 2010 Texas home prices survey, Florida home prices survey , California home prices survey, New York home prices survey, New Jersey home prices survey, Illinois home prices survey, Georgia home prices survey, North Carolina home prices survey, Massachusetts home prices survey,  Virginia home prices survey, Colorado home prices survey,  Nevada home prices survey, Washington home prices survey, Maryland home prices survey, Michigan home prices survey,  Ohio home prices survey and Pennsylvania home prices survey results.

Today we are also releasing the results of the second quarter 2010  Arizona home values survey.

Arizona has experienced some of the greatest depreciation in home prices in recent years. The values of Phoenix homes for sale have fallen fifty percent since 2006. Conditions in Arizona appear to be stabilizing. In the 2nd quarter 2009 survey 61% of Arizona agents and brokers thought home prices in their state would decrease vs. 16% in 4th quarter 2009 Arizona home prices survey. In the current survey 31% of Arizona agents and brokers believe home prices will decrease over the next six months vs 26% who thought so in the first quarter 2010 Arizona home prices survey.

According to our 2009 2nd quarter Arizona home prices survey, 24% of Arizona Realtors expected home prices to increase in the next six months vs. just 11% of Realtors who expected an increase in home values in the first quarter 2009 survey. Twenty-eight percent of Arizona Realtors surveyed in the 2009 third and fourth quarter surveys expected home prices to rise in the next six months. Forty-seven percent of Arizona agents and brokers expected prices to remain the same in the 2009 Arizona third quarter home prices survey and 56% believed home prices would stay the same in the 2009 fourth quarter survey.

In the current survey 52% of Arizona real estate professionals expect home prices to stay the same over the next six month and 17% expect them to increase. (see question 6)

Forty-one percent of Arizona home buyers believe that homes are fairly priced vs. 44% who thought so in the first quarter of 2010 vs.  51% who so believed in the fourth quarter of 2009, vs. 39% in the third quarter and 23% in the second quarter of 2009. Fifteen percent of Arizona home buyers believed that homes were 10-20% overpriced in the first quarter of 2010 vs. 13 % who so believed in the fourth quarter of 2009. In the current survey 21% of Arizona agents and brokers believe homes are over priced by 10-20%. (see question 3)

While Arizona home buyers think home prices are becoming more reasonable, Arizona home sellers continue to believe their homes should be priced higher than their Realtors’ recommended listing price. In the first quarter 2010 survey, 45% of Arizona home sellers beleived that their homes should be priced 10-20% higher than their Realtors’ recommended listing prices vs.  46% in the fourth quarter of 2009 down slightly from 50% who so believed in the third quarter of 2009. Forty-five percent of Arizona home sellers in the current survey continue to believe their homes should be priced 10-20% higher (see question 2).

Arizona agents and brokers continue to give the President poor marks with 76% disapproving his performance as President up from 72% in the first quarter of 2010 and up slightly from 71% who disapproved of the President’s performance in the fourth quarter of 2009. Sixty-four percent disapproved of Obama’s performance as President in the third quarter with 58% “strongly disapproving”. In the current survey 62% of Arizona real estate professionals “strongly disapproved of Obama’s performance. The President fared slightly better with surveyed Arizona home owners with 70% disapproving of his performance and 50% “strongly disapproving”. (see question 10)

Set forth below are the agents and brokers second quarter 2009 and 2010 Arizona and the national second quarter 2010 data. Also set forth below for selected questions is the Arizona home owner response data for the second quarter of 2010. Click on each question to see complete results:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you think Barack Obama is performing in his role as President?

Continue reading this post

In July, HomeGain, the first company to provide free instant home valuations online, released the second quarter results of our nationwide survey of over 3500 home owners and 900 HomeGain current and former members. The survey asked their opinions on home prices and what they thought of President Obama’s performance as President. On this blog we published the complete 2nd quarter 2010 national results as well as the complete 2nd quarter 2010 regional results, including commentary from real estate agents and brokers.

Recently, we published the results of the 2nd  quarter 2010 Texas home prices survey, Florida home prices survey , California home prices survey, New York home prices survey , New Jersey home prices survey , Illinois home prices survey, Georgia home prices survey, North Carolina home prices survey, Massachusetts home prices survey,  Virginia home prices survey, Colorado home prices survey,  Nevada home prices survey, Washington home prices survey, Maryland home prices survey, Michigan home prices survey and Ohio home prices survey results.

Today we are releasing the Pennsylvania home prices survey.

Pennsylvania homeowners, like their counterparts nationally, think their homes are worth more than their Realtors’ recommended listing price. Fifty-nine percent of Pennsylvania homeowners think their homes should be priced 10-20% higher than their Realtors’ recommend vs. 46% in the first quarter 2010 Pennsylvania home prices survey vs. 50% in the fourth quarter 2009 Pennsylvania home prices survey and 42% in the third quarter 2009 Pennsylvania home prices survey. (see question 2)

Pennsylvania home buyers believe homes are over priced with only 14% believing that home prices are fairly valued vs. 15% who believed so in the first quarter of 2010 vs. 12 % who thought so in the 4th quarter of 2009 and 4% in the third quarter of 2009. Thirty-eight percent of Pennsylvania home buyers believe homes are priced 10-20% more than they should be vs. 36% who thought so in the first quarter vs.  42% who thought so in the 4th quarter and 38% in the 3rd quarter. (see question 3)

Pennsylvania Realtors turned more pessimistic about the direction of home prices in the current survey with 31% thinking that home values would decrease in the next six months vs. 23% in the first quarter of 2010 vs. 33% who so believed in the 4th quarter and 43% in the third quarter. Fifty-five percent of Pennsylania agents and brokers expect home prices to stay the same over the next six months. Fifty-two percent of surveyed Pennsylvania home owners expect home prices to stay the same over the next six months. (see question 6)

An increasing percentage of  real estate agents and brokers in the Keystone State give the President a low approval rating with 63% disaproving of the President’s performance, up from 53% disapproving in the first quarter vs. 65% disapproving in the fourth quarter of 2009. Pennsylvania home owners were evenly divided on the president’s performance with 51% disapproving and 49% approving. (see question 10)

Set forth below are the agents and brokers second quarter 2009 and 2010 Pennsylvania and the national second quarter 2010 data. Also set forth below for selected questions is the Pennsylvania home owner response data for the second quarter of 2010. Click on each question to see complete results:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you think Barack Obama is performing in his role as President?

Continue reading this post

Last month, HomeGain, the first company to provide free instant home valuations online, released the second quarter results of our nationwide survey of over 3500 home owners and 900 HomeGain members. The  home values survey asked their opinions on home prices and what they thought of  Obama’s performance as President. On this blog we published the complete 2nd quarter 2010 national results as well as the complete 2nd quarter 2010 regional results, including commentary from real estate agents and brokers.

Recently, we published the results of the 2nd  quarter 2010 Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices survey, Illinois home prices survey, Georgia home prices survey, North Carolina home prices survey, Massachusetts home prices survey, Virginia home prices survey, Colorado home prices survey,  Nevada home prices survey, Washington home prices survey, Maryland home prices survey and Michigan home prices survey results.

Today we are releasing the Ohio home prices survey results.

Set forth below are the agents and brokers second quarter 2009 and 2010 Ohio and the national second quarter 2010 data. Also set forth below for selected questions is the Ohio home owner response data for the second quarter of 2010. Click on each question to see complete results:

Have home prices increased, decreased or stayed the same in the last year?

1. On average, what do homeowners believe that their home is worth?
2. How do buyers feel that homes for sale are priced?
3. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
4. What is the average difference in price between what a home is listed at and what a home sells for?
5. In the next six months, will the values of homes in your market increase, decrease or stay the same?
6. What percentage of homes for sale are foreclosures in your area?
7. What is the average home price in your area?
8. What percentage of your clients are first-time buyers?
9. How do you think Barack Obama is performing in his role as President?

Continue reading this post