Lake Listing Under 200k. Move in ready for Spring break.

Pontoon Included. Fully Furnished. Just Bring your friends, Family and Food and Call us at 205-965-8080 or 205-966-7795 and setup a private showing anytime.

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Let Tommy and Marsha, Teambates, help you with these 3 tips.

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Keller Williams January Newsletter has just been released. Encouraging news for our future real estate market recovery.

Make sure you watch this month’s video! and CALL TEAMBATES, WOO HOO!
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January 2011 Market Update

The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011.
Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to prerecession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending.
As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions.

________Team Bates Blog- www.teambates.wordpress.com_________________

Home Sales
Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.

Home Price
Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities .

Inventory
The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.

Affordability
Housing affordability set a new record in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio, currently at 13.5%, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels.

Source: National Association of Realtors – October housing data released December 22.
Would you like to know the value of your home? Team Bates wants to keep you informed about the Real Estate Market. Just email us with your information and we will be happy to share that information to you with no obligation. Myteambates@gmail.com Marsha & I are dedicated to keep our clients educated and informed so that you are able to make the best decisions for you and your family. Tommy & Marsha Bates Team Bates

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Interest Rates
Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.
Type
Rate

30 year fixed 4.77%

15 year fixed 4.13%

5/1-year ARM 3.75%

30 year average for a 30 year fixed rate mortgage 8.9%

Source: Freddie Mac, Rates as of Jan 7.

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This Month’s Video

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Topics For Home Owners, Buyers & Sellers

Use the Season to Your Home-Selling Advantage

While summer is generally known as the peak season for home sales activity, the winter can also offer great advantages for sellers – such as less competition from other sellers. With a little effort, you can use the season to your home-selling advantage.
Let’s put these ideas to work, so your home shows at its best.

Keep snow and ice at bay. If the buyer can’t get in easily, the house won’t sell. That means keeping walkways and driveways free of the frozen stuff. You want to make the home look well maintained.

Warm it up. Think warm, cozy, and homey. Before a buyer comes through, adjust the thermostat to a warmer temperature to make it welcoming. If you have a fireplace, turning it on right before the tour can create a more welcoming ambience.

Emphasize winter positives. Is your home on a bus route or some other vital service that means it’s plowed or deiced regularly in bad weather? Be sure to mention that to the buyers.

Make it festive. Even if you’re not actually going to be present, greet your buyers as if they were going to be guests at a party. Set up the dinner table with the good china and silver. Have a plate of cookies for your guests, some warm cider, or even chilled bottles of water.

Use the season to your advantage. When the holidays are over, you can still use winter wreaths and dried arrangements around the door to spark interest. In the winter, with the leaves off the trees, you might also have a nice view that isn’t as apparent in the spring and summer months.
Source: msn.com

Contact us,

TEAM BATES

your local real estate experts,

for information about what’s going on in Your area.

205-965-8080

Or

205-966-7795

WE VALUE,ENCOURAGE AND APPRECIATE ALL OF YOUR COMMENTS

*
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

Check out our Keller Williams Newsletter. Be an informed buyer and seller, with Team bates!

December 2010 Market Update The housing market continues its uneven and gradual recovery without the aid of the tax credit. Experts believe this will be the trend moving forward. Interest rates hit another record low but have started moving back up as the overall economy improves.  Despite a less-than-expected employment report, consumers seem to be feeling brighter about the future. While the Consumer Confidence Index about the Present Situation rose only slightly, the Expectation Index showed substantial improvement. As we enter into the holiday gift-buying season, consumers are expected to be out shopping and buying more gifts for under the tree this year. Reports indicate a 13-24% increase in retail sales from last year. Consumer spending accounts for about half of all economic activity in the US; as long as consumers are spending and using debt responsibly, this is a positive indicator for economic growth. This march back up continues to provide excellent opportunities: an ample selection of homes, affordable prices, and historically low interest rates. Experts anticipate both the economy and the housing market will continue on a path to a complete recovery.   Home Sales Home sales dropped slightly in October, compared with the previous month, despite a temporary moratorium on foreclosures, which have recently represented more than one third of sales activity. Sales were up 15% from July when the tax credit expiration caused a drop-off in sales. The most significant indicator of a market rebound, however, appears to be the October pending sales report. A 10.4% increase in pending sales, which measures homes under contract, signals stronger home sales activity in the coming months as the homes under contract close.       Home Price Home prices have shown considerable stability when compared with the previous several years. October’s median home price declined slightly, down less than 1% from the previous month and year. A recent study shows an increased interest in smaller homes. Smaller homes often mean smaller price tags, depending on location. While the market currently provides many opportunities for buyers, sellers look forward to the general trending upward of home price as the market’s stability without government support grows deeper roots.       Inventory There are fewer homes on the market. Total inventory fell to 3.86 million in October from 4 million in September. The month’s supply* of homes on the market fell to 10.5 months.  While still at a relatively high level, months of inventory has shrunken substantially since July’s 12.5 months. As lending standards continue to loosen and return to historical norms, more people will be able to buy their first home, move up, or invest and take advantage of the abundant opportunities in the current market – including  historically low interest rates, highly affordable prices, and an ample but shrinking selection of homes. * Month’s supply of inventory measures how many months it will take to sell all the homes that are for sale, if no new homes come on the market and buyers continue to buy at the same pace or rate.  Affordability Housing is at record affordability levels. Prospective home buyers stand to benefit from the lowest mortgage rates in decades, as well as advantageous home prices. The home price-to-income ratio, 13.5% in October, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are anticipated to begin drawing affordability back up toward more normal levels.   Source: National Association of Realtors – October housing data released November 23. Interest Rates Mortgage rates hit another record low of 4.17% on November 11 after which they rose to close to 4.4% for the remainder of the month. Historically low rates have contributed to real savings for buyers who will continue to realize those savings for as long as they own the home. As overall economic recovery gains traction, rates must rise to keep inflation in check. Industry economist Lawrence Yun anticipates rates to be between 5.4% and 6% by the end of 2011.   Type Rate 30 year fixed 4.46% 15 year fixed 3.81% 5/1-year ARM 3.25% 30 year average for a 30 year fixed rate mortgage 8.9% Source: Freddie Mac, Rates as of December 2. This Month’s Video Topics For Home Owners, Buyers & Sellers     Prime Time to Buy Homes Have Never Been More Affordable   For most individual home buyers, there are only a few factors that really matter:      •   Can I afford this home?      •   Is it a good investment?      •   Does it meet my family’s needs? So it’s a bit surprising that the most important housing statistic has gone largely unreported: homes have never been more affordable.  Affordability, measured by the median mortgage payment on the current median-priced home ($171,000) as a percentage of the median household income ($62,141), is lower than it’s been in a generation.  The chart below shows affordability at a record level, having significantly improved since the height of the recent housing boom in 2006. For more detail, check out Keller Williams Realty’s 7 Reasons Why Now Is a Great Time to Buy a Home! Sources: National Association of Realtors, KW Research	Contact me, your local real estate expert, for information about what’s going on in our area.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.  The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

Sellers In Control: Now Is The Perfect Time

Given all the negative news in the media about the housing market and economy in general, this question may be on the mind of many homeowners. It’s A Very Good question…Lets address why you should sell NOW.

Many homeowners have put their lives on hold for almost 3 years now, waiting to sort out all of this real estate and economic mess that has flowed our way. Certainly, many good people have lost their homes as a result of this chaos, but far more have equity (although not as much as in 2007) and have simply been waiting for the market to sort itself out. Well….it’s sorted itself out quite nicely for homeowners, and if you are looking to sell, right now is a great time.

Why? Well at the moment we have far more buyers than sellers, and sellers are in control of the market at the moment. Our inventory is way down in the Riverside area…surrounding areas too. All the bank repos that were supposed to be in the works are hiding somewhere in the “big bank repo closet” and are only trickling out at best. There are more short sales on the market than ever before, but that still represents only a small fraction of what we need to satisfy our buyer demand. That leaves “regular” sellers to fill the void…and regular sellers have been sitting on the sidelines for the past 3 years, only selling when they have too…not when they choose too.

The result? Many buyers, not so many sellers, and a frenzy when a good property comes on the market. In essence, the seller gets fought over like the only piece of chocolate in a candy store.

Not bad. To give you an example, the Riverside area is averaging about 1000-1100 homes for sale at any given time…but all through 2008 and the first half of 2009, our inventory averaged about 2400-2600 homes for sale. We are less than 50% of what we see in a “normal” inventory market.

Another example of this is the current “overbidding” statistics for our area. For the first two months of 2010, 67% of all homes sold in our area sold at a price equal to or greater than the original list price. Think about that. Seven out of every 10 homes sells for the list price or more.

Again, more buyers than sellers leads to fighting over the chocolate…and the highest bidder wins. But if that is the case, why are we not hearing about rising prices in our area? Most reports show prices have stabilized (even rising in a few places), but they are not rising like you would think given all the overbidding and buyer demand. What gives? In a word…appraisals. Due to both new regulations designed to keep markets from getting “overheated” again, and the fear that appraisers have at getting their valuations “sliced and diced” by the banks they work for, buyers bid up sellers properties with their offers, and the appraisers cut them right back down.

The net result is that while the property may sell for more than the list price, it will not sell for the price negotiated between the buyer and seller…because if the buyer and seller do not reduce their price down to the appraisal price, the sale (in most cases) cannot go through.

In essence, the kids (buyer and seller) decide to stay up until 10:00, but Mom and Dad (the appraisers) say no way, and bedtime becomes 9:30. You can argue all you want, but Mom and Dad will win almost every time. So…back to the homeowners of our story.

The bottom line is that if you are happy with getting whatever equity your home will bring you in today’s market (yes…we know it’s not like 2007, but then what you may be buying is not at 2007 prices either), you couldn’t pick a better time to sell.

If you price your home reasonably, given it is 2010 and not 2007, you can expect to sell your home for top dollar in today’s market in a relatively short period of time. It has been a long time since sellers could claim to be driving the bus, but here we are…with the seller’s at the wheel.

Enjoy it while it lasts, for the only certainty in our market is change…and how long it will take us to see the change. For now however, sellers are in control.

Credited Source: WestCOE Realtors

Gary Keller Founder of Keller Williams Realty on ABC Good Morning America Tomorrow!

Attention Keller Williams Associates:Kick-start your morning with a dose of Gary Keller on national television! Gary is scheduled to appear on Good Morning America (ABC) TOMORROW, Friday, Feb. 26. (Time not available. Air date subject to change.) Tune in to hear what Gary has to say in an interview regarding home selling strategies. Don’t miss it!

This is an internal communication to Keller Williams Realty International Associates for the purpose of company communications. We are not sending emails to anyone who is not part of Keller Williams Realty International. If you feel we have sent this email to you in error, please email us at feedback@kw.com. Keller Williams Realty International 807 Las Cimas Parkway, Suite 200 Austin, Texas 78746

Keller Williams Realty Ranked as Top Real Estate Franchise by Industry Leader and Entrepreneur Magazine

AUSTIN, TEXAS (December 21, 2009) — Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31^st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.

 

 “The Swanepoel TRENDS Report is a respected source for the real estate industry and beyond, as is Entrepreneur magazine, and we are excited to see our agents honored in this way for all of their hard work,” said Mark Willis, CEO, Keller Williams Realty. “We certainly wouldn’t have been included on either list without the dedication and resolve of our agents.”  

 

According to the ranking in Entrepreneur magazine, the most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. The magazine also looked at the number of years the company has been in business and the length of time it’s been franchising, in addition to start-up costs and financial data. Additionally, Keller Williams Realty made an impressive showing on the overall list, placing higher than any other real estate franchise.

 

The Swanepoel TRENDS Report is published by Stefan Swanepoel, a real estate industry speaker and insider. The survey was crafted to determine the Most Recognizable Brand for Real Estate Franchises for his report out in February 2010. The survey included votes cast by 11,000 plus real estate agents, who cast 390,000 votes to select the top 10.

 

Earlier in the year,Keller Williams Realty also received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.

 

“We are extremely proud that our associates and company are being recognized for our strength and stability during this time in our industry,” said Mary Tennant, president and COO, Keller Williams Realty. “We attribute our success to being in business with phenomenal people and to our core business models, which have allowed our franchises to thrive during any market.”

 

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About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 73,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).