Broker Bryant’s Optimistic Market Spin!

OK folks, it's time for Broker Bryant's June market report for Poinciana FL. Now this month I decided to do things a little different. I am going to fill this report with my "optimistic spin"!! That's right I am going to be Mr. Optimistic. Lately, I've been finding myself slipping over to the "dark side" so, figure I best nip that in the bud. First I'm going to put the facts out there then we'll see what I can do to put the proper "spin" on it. So here goes.

As most of you know, I run the MLS Hotsheet everyday. The Hotsheet gives me the market activity for the prior day i.e. sold listings, pending listings, expired listings, new listings etc. Well, since Friday was the last business day of the month, I decided to wait until today to look at the Hotsheet. I knew there would be quite a few expired listings and I wanted to spend this morning mailing out my expired letter to try and get some new listings. OK, so here's what this morning's Hotsheet looked like. Since Friday June 29th there were:

  • 21  New Listings
  • 25  Price Changes
  • 5    Back on Market
  • 3    Pending Listings
  • 1    Sold Listing
  • 100 Expired Listings!!!!!

Market Reality: Well what can I say. Did you notice the 1 sold listing for the last day of the month? How about the 100 expired listings?

Optimistic Spin: Wow!! I have 100 expired listings to solicit. WooHoo!! I'm going to be busy, busy, busy!! I LOVE my job. I'm glad I ordered more signs last week.

Now let's take a look at the month of June in it's entirety. This will be much more fun. Here goes:

In June 2006 there were 158 closings. June 2007 there were 39. That's a 75% decrease.

As of this morning, there are 1706 properties for sale(active) in the 34758 and 34759 zip codes. There are 112 properties under contract(pending). Thus far, this year, there have been 318 closings. Last year same period there were 810. That's a decrease in sales volume of 62%. There is currently 3 years worth of inventory on the market in Poinciana Fl. And values are down approximately 20% and declining steadily. My professional opinion is that the market will continue to decline for 2007 but will hopefully start leveling out by early 2008.

Market Reality: In ain't purdy in Poinciana Fl. From what I've read and seen we could have on e of the worst markets in the country at this time.

Optimistic Spin: Houses are still selling. If they are priced well and in very good condition they will sell. The only questions are: How long will it take? And for what price? And for my Sellers, you are listed with the top REALTOR® in Poinciana by far. Even though the market is way down I have still managed to close more transactions than any other REALTOR® in my market. So hang in there. I WILL get ‘er done.

So that's it folks, my meager attempt at "spinning" this month's market report. So how are things in your neck of the woods?

All content copyright © 2007 – Broker Bryant Real Estate Ramblings

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