Bringing a Whole New Focus on Market Reports...Just One Comment Makes the Difference!
The comment on something as simple as a Market Report, can teach you a new way of looking at things.
We do the expected...a market sales report every month...but what if that's skewed!! I gave this a thought after a REALTOR I respect raised questions!
We all have revered Real Estate Professionals that we've worked with. It could be sentiment, or it could demonstrable results.
If what someone you respect does and thinks makes makes perfect sense...Then you wonder why I didn't think about this.
That comment from my mentor and friend brought a whole new problem to light.
Here's what he said, and it demonstrates what can be gained from a simple market report.
I posted what I thought was a regular and standard Little Egg Harbor housing market report...It was a normal market report on Little Egg Harbor Homes for Sale, and mentioned the sliding prices. But Bill Wagner brought a new view. Thanks Bill!!
Laura, My biggest concern is that many agents are listing properties that were severely damaged or condemned as Residential instead of land. They state in their remarks that it's a great location to build your new home. When these sell and the agents report them as sold it is going to drive the residential prices down substantially, especially in the Electronic Valuation Models. What are your thoughts? Maybe the BOR could post some suggestions to guide agents in the category these properties should be listed.