Real eStatement

2009 Housing Market Prediction

Wed, 24 Dec 2008 08:30:53 -0600

2009 Housing Market Prediction

According to the Knoxville News Sentinel, Knoxville home prices fell a mere .5% (one half percent) in October compared to 10.4% across the country. The article said it was a slight improvement over September.

I wrote about the Oak Ridge, Tennessee, third quarter. My numbers showed that there are some "hot" selling houses in Oak Ridge.

There was another good article about home sales in the Sentinel today. It explains the poor numbers for the whole housing market in 2008. It may not be a big surprise that the housing market was worse in 2008 than we knew and, in some cases, the worse in 18 years.

What this means for you if you are selling right now is that if the house prices are going down, which for the most part they are, in order to sell right now, you may have to price your house ahead of the market. Ahead of the market means below the "market price," which might be that lowest price your real estate agent mentioned in their CMA. Some agents recommend pricing 10% below the market price. The really good news is that you may make up this amount, or make more, when you buy your new house at a discount.

Another news item that will affect home prices is that the rules for appraisers are about to get even stricter. I will be on the lookout, but I could not find an article about this online; it was just announced this week. This will mean your house will have to compare in price strictly with very recent sales, close proximity, and the market trend (meaning if it's going down, your price may have to be down.)

More good news, though, is the constantly dropping interest rates. Who would have ever dreamed 30 years ago that you could lock in a mortgage rate of 4%? Will they go lower? I have heard a rumor that they may reach 3%!

Well, the prediction articles were hard to find, except in foreign countries, and they decided to quit predicting for now. But, hopefully you have some good, current information to help you make some decisions based on your particular situation. Be wise. Get plenty of professional advice. Listen to your gut. Write down your goals. Review your track record.

Preparing for Change in 2009

Sun, 21 Dec 2008 07:08:59 -0600

Preparing for Change in 2009...here are a few things to keep in mind

The greatest joy ......... Giving
The most destructive habit ......... Worry
The greatest loss ......... Loss of self-respect
The most satisfying work ......... Helping others
The most endangered species ......... Dedicated leaders
The greatest natural resource ......... Our youth
The greatest "shot in the arm" ......... Encouragement
The greatest problem to overcome ......... Fear
The most effective sleeping pill ......... Peace of mind
The most crippling disease ......... Excuses
The most powerful force in life ......... Love
The most dangerous pariah ......... A gossiper
The world's most incredible computer ......... The brain
The worst thing to be without ......... Hope
The deadliest weapon ......... The tongue
The two most power-filled words ......... "I Can"
The greatest asset ......... Faith
The most worthless emotion ......... Self-pity
The most beautiful attire ......... A SMILE!
The most prized possession ......... Integrity
The most contagious spirit ......... Enthusiasm

Author Unknown

Financial Explanations and Predictions for 2009

Sat, 20 Dec 2008 09:00:03 -0600

Below is a quote from the financial newsletter sent to me by my financial advisor, Phil Glasgow. There is a lot of financial information and data included in the newsletter that might help explain some of the financial reverses going on. The man who wrote it also has some predictions for the 2009 year, which seem more hopeful.

I had not thought of the energy price drop as equivalent to a tax cut. I remember when all this began, Donald Trump was being interviewed, and he said it would be good for companies to fail because it would cause the price of oil to drop.

The writer also mentions the affects of the housing industry on the financial crisis.

FINANCIAL PREDICTIONS

"Indeed, although it was buried deep beneath the horrible headlines, there were some faint

glimmers of hope in the economic data released last week (details follow).

That glimmer, along with the huge drop in consumer energy prices since the

summer (roughly the equivalent of a $250 billion tax cut) and the impact of

the unprecedented amount of fiscal and monetary policy stimulus already in

place (and in the pipeline) suggests to us that the U.S. economy can begin to

regain its footing by the middle of 2009."

Large Condo for Sale in Oak Ridge, Tennessee under $100,000

Fri, 19 Dec 2008 13:31:30 -0600

Have you considered buying a condo in Oak Ridge? It's amazing how much square feet you can get for under $100,000, if you buy a Wilderness Trace condo in Oak Ridge, Tennessee.

Many of you may not have considered buying one, but you get almost 1,700 square feet (and there is over 1800 square feet counting the first floor hallway), 3 bedrooms, 2 ½ baths, and a big one-car garage, which if you have been looking in Oak Ridge, you know are hard to come by. Amazingly, there is also a workshop area!

Now, if you can't do stairs, don't buy it. But, if you want the space of a roomy house for the cost of a tiny one you should call your real estate agent today and schedule a showing for 72 Valley Forge, Oak Ridge, TN 37830. Give your opinion.

Christmas Gift to Past Clients and Sphere to Increase Website Traffic

Sun, 07 Dec 2008 14:08:43 -0600

I am trying something new for Christmas this year. I am sending a gift to my past clients and sphere of influence in their Christmas card. The "gift" is a YouTube collection of 16 (so far) performances of "Carol of the Bells." I love music, and collecting these pieces have been so much fun.

The webpage I send them to is password protected by the word GIFT in all caps. Then, at the bottom of the page I ask them to leave their name and email for a bonus gift which I will send by email.

I am hoping that this will get them to visit my site and tell their friends and family about it. If they like what they see, maybe they will return for more real estate information in the future, too.

If you would like to see what I have done, go to http://CathyGlass.com/2008Christmas or http://SuccessfulHomeSales.net/2008Christmas and use the password, GIFT, all caps.

Cathy Glass

6 Things I Am Adding to My Business in 2009

Wed, 26 Nov 2008 10:47:44 -0600

So many new ways market properties or myself! New ones that I have added or thinking of adding are:

A new website provider, because they have most of the new technology I want. You can try it out for free here.
Video, unfortunately I can't get the video on my website as expected, but it works pretty well to put it on YouTube and copy and paste. Here is a sample webpage with video. I used an older model FlipVideo, filmed quickly, and let FlipVideo make the video in about 5 minutes. It doesn't have to be a long process or cost anything.
Drive people to my website more using Twitter, mass emails with specific links to pages on my website.
Set up automatic greeting cards to come to my past clients and automatic notification when I blog on my website.
A better home page on my website. It's blank right now. Any suggestions of things that have been popular. I would like to stay within the white square.
Password protected pages on my site.

Cathy Glass, http://SussessfulHomeSales.net

2008 Oak Ridge Tennessee Market Study Third Quarter

Wed, 26 Nov 2008 09:19:54 -0600

Here are the numbers for the third quarter 2008 in Oak Ridge, Tennessee. The number of houses sold decreased by 11%, but it was a slight increase over the first quarter. The average sale price has actually increased each quarter this year, and the average days on market have reduced. The houses with 2000-2499, 3 bedroom, 2+ baths have been the most difficult to sell this year. In the third quarter, however, there was a drop in the price of those houses, and they sold quicker. The three best selling house sizes are:

1000-1499 sq. ft., 3 bedroom, one bath, but the price of those houses have dropped about 3%
1500-1999 sq. ft., 3 bedroom, two bath,but the price dropped 15% over the 2nd quarter
3000-3999 square foot house, those houses saw a 17.5% increase in average sale price

Oak Ridge Home for Sale in Woodland, $89,900

Sat, 08 Nov 2008 12:40:03 -0600

SO MANY NEWER FEATURES: roof, heat/air, hot water heater, electrical, tile, carpet, paint, and it has been reinsulated. Extras include a fenced, level yard; attic storage; storage shed; driveway for off-street parking; and a huge deck. The fun play equipment can stay. This house has 3 bedrooms and 1 bath. It is a rare find to get the whole lot level. Cathy Glass, 865-384-8636, http://CathyGlass.com

Open House at Oak Ridge Condo--Have you seen the inside?

Sat, 08 Nov 2008 12:31:44 -0600

I am having an open house at 72 Valley Forge Dr., Oak Ridge, TN, on Sunday, November 9, 2008, 2-4. Come see this great floor plan. It is so much more roomy that you have imagined. There are stairs for each level, but the square footage provides so much room for everything. There are 2 1/2 baths. The backyard patio area looks out to a wooded area with the sounds of the wind and birds chirping. Come see the condo and meet me!

Yes, this is the view from the back patio!!

Cathy Glass

Oak Ridge, TN Condo for Sale, 72 Valley Forge

Sat, 08 Nov 2008 12:24:19 -0600

IT ALL ADDS UP - BIG SAVINGS WITH MORE AMENITIES. For $99,000 you get over 1, 600 sq.ft., 3 Bedrooms, 2 1/2 Baths, Living Room, Den, Fireplace AND newer:siding, roof, heat/air, hotwater heater AND assoc. pool, tennis AND all with no outside maintenance responsibilities. Square footage taked from tax records.

I met someone from this condo association yesterday that has been there for 30 years!

Cathy Glass, 865-384-8636, http://CathyGlass.com