Today’s Agenda What we already know about the current Real Estate Market Today’s Buyer Value Perception Today’s Transferring Seller…How to Handle Buyer’s Perception Intended to inform and inspire…

We figured it out…

Home Sales In April 2010 just before the tax credit expired, there was a spike in sales. In May 2010, that number dropped dramatically. Sales of existing homes were down 25.9% in October 2010 from a year earlier. Lending Tree, December 2010

Adjusting to the New Normal

House Values Despite hopeful start, home values declined 1.6 % during third quarter Home value changes were all over the map. A number of surveys indicate that house values could continue to decrease in Experts disagree as to overall increase by 2014 (between %). Lending Tree, December 2010

Things have shifted.

Foreclosures Homes in various stages of foreclosure expected to top 3 million for 2010 (2.8 million in 2009). Actual seizures are approaching one million for Analysts expect to close year above that mark. In October, repossessions dropped from September, but compared with October 2009, an increase of 21%. The trend has slowed only a bit due to controversy over bad paperwork. Lending Tree, December 2010

Interest Rates At start of 2010 rates averaged 5.09% for a 30-year fixed loan (0.7 points). Over the summer, interest rates fell even lower, breaking historic lows on an almost-weekly basis. By November, interest rates had reached an average of 4.17% for a 30-year fixed loan, fueling a steady stream of refinancing (0.8 points). The latest Freddie Mac figures for end of December showed the average rates lower than the beginning of the year, but back up to 4.81%.

2011 Best year ever? Or more of the same? Unbelievable Opportunity

Pending home sales improved further in December, marking the fifth gain in the past six months, according to NAR.

Unbelievable Opportunity The most inventory and variety in YEARS Reasonably priced Lowest interest rates 91% are employed.

What is a Today’s Buyer Perception of the real market? –% of Buyers wanting foreclosures and short sales – waiting for the bottom of the market Does our relocating Buyer have the same Value Perception? –Are relocating buyers candidates for foreclosures and short sales? How do we support the relocating Buyer to assist them in their goals? –How do we educate our Buyers regarding distressed properties? –Does your policy accommodate their needs?

How do we prepare our relocating seller in meeting Today’s Buyer’s Value Perception? –% of Buyers wanting foreclosures and short sales – waiting for the bottom of the market Is our relocating Seller impacted by the current economic challenges? –How do we deal with Sellers in negative equity positions? How do we support our relocating Sellers to assist them in their goals? –How do we educate our Sellers regarding competing with distressed properties? –Does your policy accommodate their needs?