BHHS Pro Agents WOW the Market in 2015

BHHS Pro Agents Sales Prices 10.1% Above Average

Berkshire Hathaway HomeServices Professional Realty agents in Northwestern Ohio just completed one of the best representative years ever.  Their home-selling clients were able to close at prices 10.1% above what the neighborhood averages were.  Simply put that's over $8,000 in your pocket.

In depth studies of real estate areas where BHHS Pro agents participated, as accumulated from the multiple listing services of Northwest Ohio, West Central Ohio, and the Western Regional of Ohio, clearly indicates that when employed in the service of a home seller, these agents are out-performing their competitors where it counts - higher sales prices!  Comparisons were made of the ratios of the average original listing prices to the average sales price of all homes and of Berkshire Hathaway HomeServices Professional Realty listings in the same geographical areas.

Berkshire Hathaway HomeServices Professional Realty Throughout Ohio

With almost 500 agents in 26 offices in Ohio, BHHS Pro is making quite the impact throughout the state of Ohio.  Since joining Berkshire Hathaway HomeServices in January of 2014, BHHS Pro has joined the "Elite Circle" of brokerages in the network by being in the top 5% due to production. Recognition by RIS Media as one of the top 500 Power Brokerages has also set us apart from every other company in our Northwestern Ohio area.

Locally we are very proud of the continued excellence in representation that our seasoned agents continue to provide their clients.  With a combined expertise of practicing real estate of over a century, there isn't much that we haven't seen or done.  Our experience is showing through daily with reports like this one that further prove the value that can be found in any of our professional Realtors.

Shared Values Bonds us Together for Better Representation

There are 7 core Values that we at BHHS Pro Realty hold dear.  Expertise, Collaboration, Integrity, Innovation, Compassion, Enthusiasm, and Perspective are combined to aid us in determining how we interact with each other, our clients, other brokerages, and our community.  Our true belief is that we are in this profession to advocate for our clients, be champions for our communities, and to increase the perception of real estate agents by our example.

Where Did the CCHTL Buyer's Go?

Two Months of No Sales in CCHTL

October and November of 2015 have passed us by without a single sale in Country Club Hills or Twin Lakes.  Although not the first time that we've gone 60+ days without any action, it is a bit surprising right now.  Interest rates are still low, job growth is up and lenders are finally loosening up a little on their lending restrictions. Buyers should be flocking to buy into the market and our neighborhood has historically been a go-to market for move-up's and downsizers in Bath.

All Will be Well Very Soon in Country Club Hills and Twin Lakes

Just because we don't have the buyers flocking to our neighborhood today doesn't mean that they are gone forever.  It seems that this little two month bump has shaken some who were thinking of selling into waiting.  Let me tell you that this might not be your best option.  Over the past 3 years the months of January, March, and April have been very active in Country Club Hills and Twin Lakes.  Inventory that is aging now should start to wane over the next 3-4 months with increased first quarter buyer traffic.  

If you are thinking about listing your home for sale early next year, now is the time that you should be meeting with an area Realtor to discuss what steps you might need to take to get your home ready for the market - and quick.  

Newer Inventory Might Sell Quicker than Stale

That's right!  For those sellers who are new to the market, attracting buyers to your listing might be easier and more profitable than for those homes that have had to "sit-out" this short slow down in the market.  Their listings are nearing on the stale stage and yours could be the fresh new face that gets all of the attention.

Two of our agents at Berkshire Hathaway HomeServices Professional Realty (BHHSPro) have teamed up to represent sellers exclusively in Country Club Hills and Twin Lakes.  A custom representation package has been put together that no other brokerage in the area can offer.  With over $600million in sales in 2015, BHHS Pro has continued to increase its market share Statewide and now has determined this neighborhood as a focal point for growth in 2016.  Everyone should count their blessings daily, but Sellers in Country Club Hills and Twin Lakes for 2016 have gained a potential blessing right out of the blue.

Bath School District Housing Market is Stable

Bath Housing Inventory Stabilizing

The Bath School District is a wonderful place to live.  It boasts the widest of all possibilities in that it contains a lot of farm land, quite a few industries (including the 4th and 5th largest employers in the area), multiple parks and reservoirs, small towns and city suburbs.
Bath has it all and people want to live here!

The current inventory of homes in Bath is holding at 5 months.  This means that if no one else lists their home for sale and our current sales pace continues then we will have nothing left to sell by March 2016.  We all know that this is not how the market works, but it is how we determine inventory levels.

This current active 5 month inventory is the first to be below 6 months in two years.  August of 2013 was the last time that we saw listings numbers pacing with sales numbers to such a level.  Over this same period the inventory has increased to near 7 month levels before the sales pace quickened to ease the pain.

2015 Bath Home Sales Pace 10% Faster than 2014

The rate at which inventory is consumed has increased by almost 10% (9.9% actual) when comparing this same rate in 2014.   Last year saw an average of 8.3 homes sold per month and the rate today is just over 9.1 home sales per month.  This does not mean that now is a great time to sell your home; nor does it mean that demand has increased to a point that home prices are jumping.  These numbers simply show that the buyer pool is large enough to consume what is being put on the market.

Historical evidence shows that when inventory levels in Bath exceed 6 months, prices tend to decline.  Stabilization happens around the 5 month level and, should something happen to decrease inventory or increase demand, prices should increase when inventories get below the 3 month level.

Please Note that Stable is Good!

To all you home owners in the area, please know that a stable market is a good thing.  This is especially true in Bath where further growth could drastically change the desireability of the area as it sits now.  Most of us appreciate that new home construction is paced with demolition almost perfectly.  Transient housing levels are also fairly well maintained with no additional rental unit offerings in the area.  No plant openings or closings, no new shopping mallls, our school is performing to high levels and our football team even had a great season.  Stability in our housing market is a good thing.

If you have any questions about the numbers that I use or the methods used to derive my information, I would be happy to buy you a cup of coffee and discuss it.

I am Tim Parker and I just want to help the people of our Bath community to get the best from life by having the best information.

Call or text if you need anything - real estate or otherwise - 614-551-7341  (the local agent with the long distance number)!!

Absorption Rate Analysis

How many times a day do you hear someone complaining about their not having the correct or updated absorption rate analysis?

None?

Maybe you are so tired of hearing about it that you don't even listen anymore, but they're complaining. They are saying things like,
"Why did the neighbors house sell but mine didn't?"

I can tell you right now that the best advice that you can give them is to start listening to their professional, friendly, neighborhood real estate agent.

A good agent can help home sellers with the hardest part of marketing a home which is to price it right. Study after study shows that a properly priced property sells faster and, ultimately, for more money than homes that start out being marketed overpriced.

The absorption rate analysis is a report of the results of a study of the real estate market as to the price of listings and the rate at which they sell. Top agents can provide you with detailed information about the market in your area and help you set realistic time frames and price expectations about the sale of your home.

I recently completed just such an analysis for a couple who have been trying for 2 years to sell their home. My report showed that if they would be willing to drop their asking price by just 12%, that the probability that their house would sell within the next six months increased 10 fold. Unfortunately, they did not want to make such a large sacrifice right now. I fully, and confidently expect to talk to them again next year after their home gains another unfruitful year of market exposure.

I have also, in the past, found opportunities for sellers to ask for more than they thought they would be able to. Even in a down market there is higher demand in certain price ranges than others.

A great absorption rate analysis can clearly identify where the active market is and help you price your property right into the thick of things.