You’ve probably heard the commercials for CARBONITE.COM. I recently attended a seminar where the speaker encouraged us to check this out. If you read the owners comments on how and why they started the company, you will relate. His daughter worked on a college paper for 6 weeks and then got her laptop stolen – and no sympathy from her Professor. Next his partner’s wife had her hard drive crash and lost tons of sentimental photos, important docs, etc. We can all relate to these possibilities.
This company’s service is relatively inexpensive – 50 bucks a year – and is supposed to be seamless – all done in the background – you don’t have to think about anything. I'm not endorsing, but sharing. I think I'm going to look into it. Afterall, I don’t want all the great Blog topics I have lined up, to go “poof” in the night!
Go there and check it out -- http://www.carbonite.com/
Better Safe than Sorry! ~ Liz
Tuesday, October 21, 2008
Area's Third Quarter Stats
At this time of general upheaval in the National marketplace, the Marquette Area still remains a pretty stable Real Estate market. I have recently looked at the market - examining Single Family Residential Sales, and comparing sales activity from the end of the 3rd Quarter in 2007, to the same time in 2008.
I looked at MEDIAN LIST PRICE, MEDIAN SOLD PRICE, UNITS SOLD, and MEDIAN DAYS ON MARKET. I also looked at the CURRENT INVENTORY OF UNSOLD HOMES. The areas I included were Marquette City and Twsp, Chocolay and Sands which is the normal area that is used for the professional study done every spring by Closser and Associates.
Overwhelmingly, UNITS SOLD are down, and DAYS ON MARKET are up.
However, MEDIAN SOLD PRICE is actually pretty flat. For the past 5 years our Median Sale Price has looked like this: +10.3% (2003), +14.8% (2004), +3.8% (2005) +8.9% (2006) and +2% (2007). Though we have some individual geographical areas where the MSP is down significantly, if I look at the same areas used for these previous annual stats, our Median Sold Price right now is only down by 1%.
I think one of the most important numbers is to look at is our inventory of Unsold Homes, and in terms of how many months of inventory we have. I can’t track this number historically, but I would say this is much higher than in years past. Active listings in just Marquette City, Marquette Twsp., Chocolay and Sands right now total 206 homes. Some areas have an inventory of homes equaling up to 13-15 months worth.
So, what do we make of all of this? Well, for one thing, Marquette sometimes seems to like to buck the Law of Supply and Demand. We currently have a large Supply (inventory) and a small Demand (units sold are down), but still our prices remain fairly stable.
Buyers have a good situation going on, with loans still readily available and at good rates, and a good supply of homes to choose from. They are taking their time and looking at all of the homes in their price range. Sellers in order to be successful, need to be realistic about their pricing in order to compete in this marketplace. When their home has lots of competition, they need to be the best home for the money, and they will succeed. That’s called Win – Win!
Hey, Buy a Home – You’ve Gotta Live Somewhere! ~ Liz
I looked at MEDIAN LIST PRICE, MEDIAN SOLD PRICE, UNITS SOLD, and MEDIAN DAYS ON MARKET. I also looked at the CURRENT INVENTORY OF UNSOLD HOMES. The areas I included were Marquette City and Twsp, Chocolay and Sands which is the normal area that is used for the professional study done every spring by Closser and Associates.
Overwhelmingly, UNITS SOLD are down, and DAYS ON MARKET are up.
However, MEDIAN SOLD PRICE is actually pretty flat. For the past 5 years our Median Sale Price has looked like this: +10.3% (2003), +14.8% (2004), +3.8% (2005) +8.9% (2006) and +2% (2007). Though we have some individual geographical areas where the MSP is down significantly, if I look at the same areas used for these previous annual stats, our Median Sold Price right now is only down by 1%.
I think one of the most important numbers is to look at is our inventory of Unsold Homes, and in terms of how many months of inventory we have. I can’t track this number historically, but I would say this is much higher than in years past. Active listings in just Marquette City, Marquette Twsp., Chocolay and Sands right now total 206 homes. Some areas have an inventory of homes equaling up to 13-15 months worth.
So, what do we make of all of this? Well, for one thing, Marquette sometimes seems to like to buck the Law of Supply and Demand. We currently have a large Supply (inventory) and a small Demand (units sold are down), but still our prices remain fairly stable.
Buyers have a good situation going on, with loans still readily available and at good rates, and a good supply of homes to choose from. They are taking their time and looking at all of the homes in their price range. Sellers in order to be successful, need to be realistic about their pricing in order to compete in this marketplace. When their home has lots of competition, they need to be the best home for the money, and they will succeed. That’s called Win – Win!
Hey, Buy a Home – You’ve Gotta Live Somewhere! ~ Liz
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