The McAllister Team Blog

Greetings! 

This time of year the Real Estate Community celebrates its own through the

Ohio Association of Realtor’s President’s Sales Club Awards.

 The President’s Sales Club awards are made based on an individual agent’s, or a real estate team’s productivity.  The award is granted based on either the dollar value of transactions closed, or the number of transaction sides closed, between July 1, 2009 and June 30, 2010. 

 This year The McAllister Team earned the OAR Award of Excellence with over 185 transaction sides closed totaling just under $7.8 Million in gross sales.  This means we are one of the Top 10 most productive teams in the state this year.

 I am very fortunate to be surrounded by a highly motivated and talented group of agents and staff.  We could not achieve this level of sales without the contribution of each and every team member.

 Thank you for allowing me to indulge in this once-a-year opportunity to pat ourselves on the back.  And remember, no matter how many houses we sell, we are never too busy for your referrals.

 All the best!

 Chris McAllister

The McAllister Team

Real Estate II

 

I’m a numbers guy so I find the information on the link below pretty interesting.  Many will find this post a little dry, but it’s good to know what is happening in the local real estate market.   All the stuff we hear on the national or even state level distorts our reality.  All real estate is local, and every market is different.

Our Multiple Listing Service (MLS) is called WRIST, short for Western Real Estate Information Systems and Technology.  This MLS covers Auglaize, Champaign, Clark, Logan, Mercer, Miami, and Shelby Counties.  The information is set up so that one can few the same information for the current six month period against the same six month period going back every year to 2003.

Here is the link:  http://www.wristinc.com/August2010/2010%20Half%20Year%20Stats.pdf

I am going to summarize the stats for the total market area first, then Clark and Champaign counties separately.  Clark and Champaign counties are where our three offices are located and where we enjoy dominate market share.  I am going to set each of the stats against last year, and then set them against the 2005 market peak.

For the entire WRIST sales area:

All Counties                                       2009                       2010                       % Change to 2009

Number Sold:                                        1545                       1987                      +28%                    

Average Sold Price:                         $101,204              $99,770                 -1.5%

Total Sold Volume:                          $156,359,654      $198,242,687      +27%                    

Average Days on Market:                147                         136                         -11

Average Original List Price:           $114,096              $110,858              -3%

Average List/Sale Price Ratio:     88.70%                  90%                        +1.3

All Counties                                       2005                       2010                       % Change to 2005

Number Sold:                                           2446                       1545                       -36%                     

Average Sold Price:                              $111,159                $99,770             -10%

Total Sold Volume:                          $271,896,096      $198,242,687      -27%

Average Days on Market:             118                                 136                         +18

Average Original List Price:           $118,831              $110,858              -7%

Average List/Sale Price Ratio:     93.54%                  90%                        -3.54

For Clark County: 

Clark Only                                           2009                       2010                       % Change to 2009

Number Sold:                                          459                         509                         +11%

Average Sold Price:                             $93,196                $88,381                   -5%

Total Sold Volume:                           $42,776,805        $44,985,736        +5%

Average Days on Market:                    126                         124                            -2

Average Original List Price:           $103,839               $97,533                   -6%

Average List / Sales Price Ratio: 89.75%                  90.62%                  +.87

 

Clark Only                                           2005                       2010                       % Change to 2005

Number Sold:                                        742                            509                           -31%

Average Sold Price:                         $97,031                    $88,381                    -9%

Total Sold Volume:                          $71,996,981         $44,985,736            -38%

Average Days on Market:                   112                         124                             +12

Average Original List Price:           $103,472              $97,533                    -6%

Average List / Sales Price Ratio:   93.78%                    90.62%                   -3.16                     

 Champaign County:

 Champaign Only                              2009                       2010                       % Change to 2009

Number Sold:                                             120                         162                              +35%

Average Sold Price:                              $90,053               $95,649                        +6.2%

Total Sold Volume:                          $10,806,318         $15,495,151                  +43%

Average Days on Market:                     135                         158                                +23

Average Original List Price:           $103,485               $108,097                    +4.4%

Average List / Sales Price Ratio:  87.02%                     88.48%                      +1.46

 Champaign Only                              2005                       2010                       % Change to 2005

Number Sold:                                             228                         162                                 -29%

Average Sold Price:                            $109,716              $95,649                           -12.8%

Total Sold Volume:                          $25,015,147         $15,495,151                    -38%

Average Days on Market:                     124                          158                                  +34

Average Original List Price:           $116,386               $108,097                         -7.1%

Average List / Sales Price Ratio:   94.27%                    88.48%                            -5.79

Champaign County has had a significant rebound for the first half of 2010.  Clark County has also improved this year but not by nearly as wide a margin and not in all metrics.  The impact of the home buyer tax credit during the first half of the year cannot be overstated.  The expectation is that the credit pulled business forward from the second half of 2010.  Therefore, I believe the entire year 2010 to 2009 will be flat.

‘Flat’ however, is the new ‘up’.   I’ll take flat over another year over year decline any day.

The point to all of this is, as a buyer, you want to understand the market and make the best deal possible.  As a seller, knowing where the ‘sweet spot’ in the market is will ensure you price your property to sell as quickly as possible and maximize your potential sales proceeds. 

It truly is a great time to buy, which means well maintained houses priced correctly, are moving very quickly.

If you have any questions, do not hesitate to contact me.  Chris@RealEstate2.com.

Click the link below for the Best Bets under $10k this week:

XPROP Detail View

Good Morning –

I hope everyone is enjoying their summer.  It has been a little over 30 days since my last email and as expected, distressed inventory is picking back up.  If you watch The Foreclosure Tracker™ you will see we are averaging four pages of property.  I can also say for sure based on what we are seeing, the banks are becoming more aggressive on price, but they are less likely to ‘bend’ accepted contracts when it comes to closing dates or making repairs to properties that were to be purchased ‘as-is’.  So – great deals out there, but they are pretty cut and dry.  Lots of multiple offers at these prices.

Also, we are seeing many properties going straight to owner occupants, especially higher priced inventory.  So as always, if you know anyone looking to buy a property, and make the deal of a lifetime, have them call me.  First time buyers and distressed properties are our specialties.  Add on owner-occupant interest rates at 4.5% or less on a 30 year mortgage, and you have the GREATEST BUYER MARKET IN HISTORY.

I have added two links today of ‘Best Bets’ – I have included close to 75 properties today at all price points.  You will notice many more properties than usual in Champaign County as well.

Here are the ‘Best Bets’ in our area today:

AGENT-RES Detail B/W Text – Link #1

XPROP Detail View – Link #2

 

All the best, and Happy Investing!

 Chris

 

 ‘Best Bets’ are the top single family investment opportunities in Clark and Champaign Counties at this moment in time.

The McAllister Team at Real Estate II tracks the entire bank owned (REO) inventory in the area using The Foreclosure Tracker™.  These listings were selected from hundreds of listings on the market based on their potential return on investment.

If you are in the market for investment property, call The McAllister Team today at 937-390-3715 and make an appointment to view these properties.

If you are interested in direct access to The Foreclosure Tracker™, email us at chris@midohioreo.com.  This service is available exclusively to the valued investor clients of Real Estate II.

We do not guarantee that any of these listings will be right for you.  Many if not most of these homes need extensive repairs.  However, based on our evaluation, these are your ‘Best Bets’ in the market.