Are Home Sellers Hiding In Tallahassee
Home sellers in Tallahassee have been following predictable patterns for longer than my 20 years in the real estate brokerage business. When they decide they need to sell a home in Tallahassee, they hit the market in early February with the hopes of being moved before the end of the summer.
But something is different this year. We know there is a back-log in the shadow inventory of homes, and we know there is a pile of homes that failed to sell over the past three years that will most likely re-emerge as homes for sale in Tallahassee in 2011. We have anticipated more than two year's supply of homes that need to emerge, So what is going on?
Short Term Home Inventory Graph
If we track the thirty day inventory trends in the Tallahassee housing market over time, we observe seasonal cycles. Home sales spike around June of each year, and listing inventory grows at the fastest pace near the beginning of February. Typically, the number of homes for sale in Tallahassee increases from February through April or May of each year. So what's going on now?
In the real estate graph above, the red area measures the average number of homes coming on the market over the past thirty days, while the green area measures the average number of homes leaving the market over the past thirty days. The resulting yellow area measures the thirty day average market growth. Note the spikes that occurred in each of the past three years, and how it currently does not exist in 2011. Where are the homes that we know are out there?
Sell A Home In 2011
If you want to sell a home in 2011, it is time to put it on the market for sale. Do not take this tasking lightly, as roughly 60% of the homes listed for sale in Tallahassee last year FAILED TO SELL! That's right, the owner decided to sell the home, listed with a real estate agent, had the home marketed for 6 long months, but no sale ever resulted.
If you want to avoid the failure found by the majority of "wannabe" home sellers last year, make sure you review our primer on a Progressive Property Marketing Plan so that you know what to demand from your real estate brokerage company.
Joe Wrote The Book On How To Sell A Home Today
WARNING: The Internet & digital marketing systems have changed the way sellers need to market a home for sale. It's not about getting a home sold anymore, it's about getting a home sold and netting the most money from the sale.
To do this, a seller needs to hit the digital market hard in a coordinated effort that alerts ready-buyers (all at the same time) to ensure buyers understand they are competing for the right to buy the home.
While it only takes ONE buyer to sell a home, it takes MULTIPLE BUYERS for the seller to bid the property up to its highest value in today's market. You see our full explanation about how to sell a house here, or you can buy the book and really get into the nuts and bolts of selling a home in the digital age.
Get the book that explains it all, in a manner that is understanding to all, even technology neophytes. It's available on Amazon, a trusted source for consumers.
I'm sorry but I'm afraid I missed something ... You said,
"If you want to sell a home in 2011, it is time to put it on the market for sale. Do not take this tasking lightly, as roughly 60% of the homes listed for sale in Tallahassee last year FAILED TO SELL!"
So, why would I sell my home now when there is a definite surplus of homes from last year? As you mentioned, 60% failed to sell. Won't that just decrease the chances of my home getting sold?
Nice "pick up." I should have said "if you HAVE TO sell a home..."
Some people do not have the luxury of waiting 5 or more years. If they do, they should wait. But if the MUST sell this year, then my advice stands as above.
Thanks for the comment.
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