Real Estate Talk Blog for the Willamette Valley

The holidays are always a reflective time of year...the end of 2007 is just days away and the beginning of 2008 brings with it new opportunites.

I participate in a number of online Real Estate forums and over the past few weeks have had occasion to be part of an ongoing debate about the future of the real estate profession.  One individual who posts on the forum is of the opinion that given the new technologies available and the crash of the current housing market, that Realtors® (as we know them now) are a dying breed, with only a few staying in the profession, and them not thriving.

I don't happen to agree with him, but it causes me to think...ok, what if he's right...what should I be doing now.  There is a concept in business called "Blue Sky Thinking" that is designed to get you out of the existing paradigms and think 'outside of the box.'

So here are my questions to you:

What service(s) of the current real estate profession do you VALUE? 

Would you be willing to pay for that/those service(s) alone?  If so, at what rate (a percentage of the sale or a flat fee?)

What about in the future?  Do you agree that the role of the real estate professional is going to change dramatically?  If so, how would YOU like to see it change?

What services do you feel DON'T add Value to the transaction?

Think about the things that are often offered but you, as a consumer could care less about.

If you were to do a system re-boot on the real estate profession, how would you redesign the new operation?

I value your responses and look forward to opening the conversation up to how I can better serve my clients true needs in the future.  Thanks...and Happy New Year.

Real Estate Talk Market Update for 29 December, 2007

(1) “SOLD” statistics include both SOLD and PENDING

(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) – 185
• Average price – $216,893
• Median Sale Price – $184,900
• Average Days on the Market – 142
• Average Dollar per Square Foot - $134.24
• Current Active Listings – 372
• Average Price of Active Listings - $265,039
• Months of Inventory – 6.03

Corvallis

• SOLD/Pending (past 90 days) – 114
• Average price – $291,059
• Median Sale Price – $275,000
• Average Days on the Market – 91
• Average Dollar per Square Foot - $168.53
• Current Active Listings – 208
• Average Price of Active Listings - $346,752
• Months of Inventory – 5.47

Lebanon

• SOLD/Pending (past 90 days) – 47
• Average price – $166,949
• Median Sale Price – $162,650
• Average Days on the Market – 108
• Average Dollar per Square Foot – $119.34
• Current Active Listings – 149
• Average Price of Active Listings - $213,619
• Months of Inventory – 9.51

Today – 29 December – David Crooks, Author of the Wall Street Journal’s Complete Guide to Real Estate Investing (Real Estate Talk Replay of a previously recorded interview)

Upcoming Guests Scheduled:

03 January 2007 – Kelly Gardner, Pinnacle Mortgage. Our subject will be the recently passed legislation (HR-3915 The Mortgage Reform and Anti-Predatory Lending Act of 2007) passed on November 15^th as well as the ramifications of the actions pending between the Bush Administration and the Lending Industry on sub-prime.

Also coming in January

• Katie Holst, First American Title (Business Development)
• Doug Conser, Conser Appraisals

Its Christmas Eve day...

…and I’d like to share my Christmas wish for everyone.

I’ve spent this year as the host of a local radio show "Real Estate Talk," and here on my blog giving advice, market updates, and information about buying and selling houses.

     I’ve mentioned many times that the best way to approach the world of real estate is with a business-like mind-set…but at this time of year, I’d like to make the point that...700 square feet, or 4,000…on small acreage, or on a tiny city lot…real estate is, at the end of the day, about making a HOME.

     "A man’s home is his castle," "home is where you hang your hat"…and for years I had a key box that had the words “Home is Where the Navy Sends You” on it.

     During this holiday season, I’d like to take just a moment to wish that everyone finds a place where they can feel at home. From my family and me, and from everyone at KGALKSHO Radio and Conser Realty…Merry Christmas…

Real Estate Talk Market Update for 20 December, 2007

(1) “SOLD” statistics include both SOLD and PENDING
(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) – 197
• Average price – $217,108
• Median Sale Price – $185,134
• Average Days on the Market – 139
• Average Dollar per Square Foot - $133.73
• Current Active Listings – 381
• Average Price of Active Listings - $264,381
• Months of Inventory – 5.8

Corvallis

• SOLD/Pending (past 90 days) – 125
• Average price – $291,391
• Median Sale Price – $275,000
• Average Days on the Market – 89
• Average Dollar per Square Foot - $167.55
• Current Active Listings – 211
• Average Price of Active Listings - $346,917
• Months of Inventory – 5.06

Lebanon

• SOLD/Pending (past 90 days) – 48
• Average price – $170,482
• Median Sale Price – $166,100
• Average Days on the Market – 113
• Average Dollar per Square Foot – $120.12
• Current Active Listings – 151
• Average Price of Active Listings - $210,952
• Months of Inventory – 9.44

Today – 20 December – Kim Armstrong, Wells Fargo Home Mortgage was here talking about loan programs for First Time Buyers. There are STILL quality lending packages available for qualified buyers, including 100% financing the mid-valley.

* Encore performance on 22 December

Upcoming Guests Scheduled:

29 December – David Crooks, Author of the Wall Street Journal’s Complete Guide to Real Estate Investing (Real Estate Replay of a previously recorded interview)

03 January 2007 – Kelly Gardner, Pinnacle Mortgage. Our subject will be the recently passed legislation (HR-3915 The Mortgage Reform and Anti-Predatory Lending Act of 2007) passed on November 15^th as well as the ramifications of the actions pending between the Bush Administration and the Lending Industry on sub-prime.

Merry Christmas to all...and happy holidays.

Real Estate Talk Market Update for 15 December, 2007

(1) “SOLD” statistics include both SOLD and PENDING

(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) – 202
• Average price – $213,918
• Median Sale Price – $184,990
• Average Days on the Market – 134
• Average Dollar per Square Foot - $133.13
• Current Active Listings – 382
• Average Price of Active Listings - $265,809
• Months of Inventory – 5.67

Corvallis

• SOLD/Pending (past 90 days) – 128
• Average price – $294,260
• Median Sale Price – $275,000
• Average Days on the Market – 88
• Average Dollar per Square Foot - $167.50
• Current Active Listings – 222
• Average Price of Active Listings - $347,707
• Months of Inventory – 5.20

Lebanon

• SOLD/Pending (past 90 days) – 49
• Average price – $170,120
• Median Sale Price – $165,300
• Average Days on the Market – 111
• Average Dollar per Square Foot – $119.91
• Current Active Listings – 148
• Average Price of Active Listings - $212,573
• Months of Inventory – 9.06

This Week – 15 December – Year End Summary. I’ll be looking back at the 1^st year of Real Estate Talk and highlighting some of the information that you need to know as we get ready for a new year in a buyer’s market here in the mid-valley.

For audio archives of this show, and all my past shows go to www.kgal.com/realestatetalk.asp.

Upcoming Guests Scheduled:

20 December – Kim Armstrong, Wells Fargo Home Mortgage will be here talking about loan programs for First Time Buyers. There are STILL quality lending packages available for qualified buyers, including 100% financing.

* Encore performance on 22 December

29 December – David Crooks, Author of the Wall Street Journal’s Complete Guide to Real Estate Investing (Real Estate Replay of a previously recorded interview)

Real Estate Talk Market Update for 06 December, 2007

(1) “SOLD” statistics include both SOLD and PENDING

(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) – 288
• Average price – $217,667
• Median Sale Price – $193,500
• Average Days on the Market – 122
• Average Dollar per Square Foot - $132.95
• Current Active Listings – 400
• Average Price of Active Listings - $265,063
• Months of Inventory – 4.17

Corvallis

• SOLD/Pending (past 90 days) – 174
• Average price – $291,380
• Median Sale Price – $294,975
• Average Days on the Market – 82
• Average Dollar per Square Foot - $167.51
• Current Active Listings – 217
• Average Price of Active Listings - $343,243
• Months of Inventory – 3.74

Lebanon

• SOLD/Pending (past 90 days) – 64
• Average price – $171,304
• Median Sale Price – $164,000
• Average Days on the Market – 110
• Average Dollar per Square Foot – $120.23
• Current Active Listings – 150
• Average Price of Active Listings - $215,056
• Months of Inventory – 7.03

Comment on this week’s update: Last week, the statistics were pulled from the MLS on a Friday, the last day of the month. Due to a delay in reporting, there were numerous data that was NOT yet input into the system and, as a result last week’s market statistics were somewhat skewed. This week’s statistics are a more accurate representation of the market conditions over the past 90 days. Thanks.

This Week’s guest – 6 December – Laura Uhler, Solar Ki – Solar energy for your home; building an energy efficient home and retrofitting your home with solar power.  Audio here: http://www.kgal.com/mp3/RealEstateTalk/KGAL_RETalk_2007_12_06.mP3

*Encore performance on 8 December

Upcoming Guests Scheduled:

15 December – Year End Summary. I’ll be looking back at the 1^st year of Real Estate Talk and highlighting some of the information that you need to know as we get ready for a new year in a buyer’s market here in the mid-valley.

20 December - (Tentatively) – Kim Armstrong, Wells Fargo Home Mortgage will be here talking about loan programs for First Time Buyers. There are STILL quality lending packages available for qualified buyers, including 100%.

* Encore performance on 22 December

29 December – David Crooks, Author of the Wall Street Journal’s Complete Guide to Real Estate Investing (Real Estate Replay of a previously recorded interview)

Real Estate Talk Market Update for 01 December, 2007

(1) “SOLD” statistics include both SOLD and PENDING

(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) – 203
• Average price – $216,793
• Median Sale Price – $188,000
• Average Days on the Market – 124
• Average Dollar per Square Foot - $133.21
• Current Active Listings – 408
• Average Price of Active Listings - $263,900
• Months of Inventory – 6.03

Corvallis

• SOLD/Pending (past 90 days) – 120
• Average price – $299,870
• Median Sale Price – $277,950
• Average Days on the Market – 81
• Average Dollar per Square Foot - $168.56
• Current Active Listings – 225
• Average Price of Active Listings - $348,289
• Months of Inventory – 5.63

Lebanon

• SOLD/Pending (past 90 days) – 46
• Average price – $175,385
• Median Sale Price – $164,000
• Average Days on the Market – 98
• Average Dollar per Square Foot – $122.43
• Current Active Listings – 160
• Average Price of Active Listings - $218,309
• Months of Inventory – 10.43

This Week’s guest – 01 December – Jessica Pankratz of Town and Country Realty on the California housing market, what it means to us in the mid-Willamette and what's going on there.

Upcoming Guests Scheduled:

6 December – Laura Uhler, Solar Ki – Solar energy for your home; building an energy efficient home and retrofitting your home with solar power

*Encore performance on 8 December

15 December – To Be Determined

20 December - Year End Summary. This show will be a look back at the first year of Real Estate Talk, covering some of the most important points and topics, as well as a recap of the housing market statistics for the year and a look ahead to 2008.

* Encore performance on 22 December

29 December – David Crooks, Author of the Wall Street Journal’s Complete Guide to Real Estate Investing (Real Estate Replay of a previously recorded interview)