OUR REAL ESTATE STRATEGY: CONNECTING BUYERS & SELLERS FOR A WIN/WIN RESULT
July 20th, 2009 categories: About the Local Market, Real Estate Resourcing
What separates a good real estate agent from a really GREAT one? I am an observer by nature and I am always observing agents to determine who the good ones are and who are not. Quite honestly, there are times when I look at listings that I am about to show to a client and I cringe after I notice who the listing agent is. I do that because, as in all businesses, there are real estate agents who are not pleasant to deal with, who aren’t very efficient at doing their job (my #1 pet peeve), and, in terms of their negotiating techniques on behalf of their clients, they are operating at a 2 or 3 year old level. “This is MINE and you can’t have it!”
Our tag line for our business is: “Connecting Buyers & Sellers for a Win/Win Result.” It pretty much sums up who we are and how we do business. First, our belief is that the real estate business is about matching willing buyers and willing sellers. We’re not trying to convince anyone to do anything they don’t want to do. Secondly, we believe that we can do that that in a win/win way for all.
There are some in the real estate business who would take exception to our strategy about the win/win aspect and say that representation is exclusively about getting your client the very best deal (e.g., it’s not a win/win, but a win/lose, with the “win” in favor of MY client and the lose in favor of YOUR client). Another way of saying it is, “We absolutely won’t leave anything on the table.”
While it certainly IS our goal to get our client the very best deal possible (and we really are quite good at it), the problem with the Win/Lose approach is that it creates an adversarial relationship between the parties. Win/Lose negotiators often have strong egos and they have an extremely limited view of what the client’s REAL interests are. To say it a different way, they are negotiating based from their own ego, not in the true interest of the client. Even though the strategy sounds like a good idea for the client, quite often the results are less than what you might expect. The problem is that adversarial negotiating quite often ends up in compromise in order to get the deal done and so … sometimes they win, sometimes they lose. And sometimes the adversarial relationship continues … even into the courts.
The alternative way of negotiating is based on interests. It’s a bigger picture view and it provides for many more possible solutions. The truth is that people and situations are complex and every transaction has multiple factors that influence whether a person is getting a good deal or not. For example, who wants a great price on something that doesn’t interest them? or work for their family?
What we are trying to do is match interests and so we we feel like it is our job (and we spend most of our time observing and anticipating) what the changing interests of both parties are so that we can create a contractual agreement that both parties want to live up to. Sometimes, the hardest task is getting people to “see outside the box” … that their interests truly are being served with the creative solution that we are offering. See future articles with the keyword, “Interest Based Negotiations” for further elaboration the subject.
Connecting Buyers & Sellers for a Win/Win Result: It’s what we do. It’s who we are. And, it takes advantage of what people truthfully want to do. It is our feeling that if we are creative in putting deals together, we will get much better results than the next guy … and those results will be win/win for all!
If you are looking for win/win results, give us a call at 830-995-2511. We’d love to visit with you.
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
JUNE SALES UP IN KERR COUNTY
July 9th, 2009 categories: About the Local Market, Assessing the Local Market
Finally, some good news for the Kerrville real estate market! Kerr County Sales were up in June just over $1.5 million from last year.
There were 57 Sales last month (June 2009) with an average List/Sold % of 91.23% as compared with 54 Sales during the same period in 2008 (June 2008) with an average List/Sold % of 92.99%. A few more sales and at a slightly deeper discount. Hopefully, this signals a good finish for the year!
As always, we are here to help you with your real estate needs. 830-995-2511
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
REAL ESTATE SALES IN KERR COUNTY: $5.7 MILLION FOR MONTH OF MAY, $33 MILLION FOR YEAR SO FAR
June 2nd, 2009 categories: About the Local Market, Assessing the Local Market
Given the recessionary climate that we have been in this last year, every one is watching and waiting for the real estate market to turn around. Will it happen this month? Will it be next?
There have been some statistics showing encouragement of late … particularly, the stock market that has been leveling out, consumer confidence is rising, and interest rates are continuing to be very low.
Most people in real estate will tell you that there has been a significant increase in traffic this last month. Real Estate sales normally begin to increase in the month of May as Summer is traditionally the high season for moving.
In Kerr County, there were 35 sales totaling $5,676,350 during the month of May as compared with 59 sales totaling $11,879,775 during the same period last year. Still significantly down; however, encouraging from the previous months.
For the year so far, here’s the data for Kerr County:
170 units sold totaling just over $33 million as compared with $273 units totaling $53.8 million. That’s 103 Units down for a total of just over $20 million! WOW! That’s quite an impact on the overall economy and particularly those in real estate.
We remain encouraged though. Things are looking up! As of June 2, There are currently 70 Listings totaling $15.7 Million in Kerr County listed as pending or active with a contingency.
People are learning to accept our new market conditions. Prices are being lowered! People are getting creative! We’re all working harder! Real Estate always comes back around!!!
With every obstacle is an opportunity for a change for the better! We’re doing our best to work smarter for our clients! And, as you can see, we are actively watching the real estate market so that we can provide YOU with the best information. Give us a call 830-995-2511 for more information and to find out how we can help you with your purchase or sale in the Hill Country. We are members of the San Antonio, Kerrville & Gillespie MLS services and so can help you anywhere in that market area!
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
Numbers Aren’t Yet Reflecting Increased Market Activity in Comfort, Texas
June 2nd, 2009 categories: About the Local Market, Assessing the Local Market
I was surprised to discover that the increased market activity that we have been seeing in the area has not yet turned into actual sales (at least for Comfort). For the months of April and May, there were NO sales (as compared to 2 the preceding year totalling $962,264). Here’s where we are for the year:
I guess the surprise is due to the increased number of properties under contract (5 currently). It is likely that next month’s figures will be much better. Also, there are several Comfort properties listed only in the Kerrville MLS. None have sold to my knowledge; however, at least one is under contract.
The other interesting piece of data that I found for Comfort:
There are 202 Units of Real Estate currently on the market with a total market value (e.g., list price) of $73 Million.
Pretty significant for a little community of just over 5,000, huh?
If you’d like to add to or substract from that number, we’d love to help you! We’re your source for real estate & community information for Comfort and the surrounding area! Give us a call 830-995-2511.
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
MARKET DATA FOR COMFORT TEXAS: February was a good month!
March 6th, 2009 categories: About the Local Market, Assessing the Local Market
Real estate sales in Comfort, Texas during February were stronger than last year’s figures. There were 3 sales totaling just under $1.4 million which compares with 6 sales totaling just under $1.2 million during February 2008.
Two of the 3 sales were properties greater than 25 acres. In a rural area such as Comfort, properties with large acreages generally make up a large portion of the overall sales figures. Hopefully last month’s results indicates a change in the trend as sales of large acreages were off during most of 2008.
We are generally optimistic about Comfort for 2009. Several new “tourist destinations” are expected to make their home in the Comfort area … which should help the overall economy and the appeal of the area. Also, we believe the trend toward “small town” living will continue. Many people believe that Comfort is the first “true” small town in the Hill Country outside of San Antonio … so it has great appeal to those looking for that quaint, “All American”, small town feel.
The Hill Country is a great place to live … So, if Comfort is what you’re looking for, give us a call. We’d love to help you find your “Hill Country Dream Home.”
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
The Kerrville Real Estate Market Faring Much Like Wall Street
March 4th, 2009 categories: About the Local Market, Assessing the Local Market
On Monday, the Dow Jones industrial average fell to 6,763 — the lowest close for the Dow since April, 1997. The 300-point drop Monday leaves the index more than 52 percent below its record high of 14,164.53 set in October 2007.
The Texas Hill Country real estate market, while still doing better than the national market, is experiencing a similar decline as that of Wall Street. Kerrville, Texas Real Estate Sales in January & February 2009 totaled just $7.67 million, equivalent to just 46.7% of last year’s sales.
It is commonly understood that in an unstable environment, “Big Ticket Items” get hit the worste. People delay purchases … especially big ones until they feel more certain about the future. Real Estate certainly is one of the “Big Ticket Items” that is suffering in the current economic environment.
What will it take to create a more certain future? I imagine just time. In our opinion, the real estate market, like the stock market, was due a “correction.” People get caught up in the frenzy and make unwise decisions … not based on fundamentals. The good side to a correction is people start making sensible decisions about how they spend their money. And, the ones that don’t OVERREACT can seize opportunities. When the market is down, deals can be found more easily!
The good news is that, historically, real estate has been one of the best places to invest money in uncertain times. Real estate is a “real” asset … meaning it is a tangible, real asset … It can’t be taken away … It’s not just on paper!
We believe that it is time for many who have lost money in the stock market to consider investing in real estate.
The Texas Hill Country is still one of the best places in the country to invest. Tourism and retail sales are still strong.
Our encouragement to you is: Live fully and yet wisely! And keep the long term perspective!
We’d love to help you find your Hill Country dream home! Give us a call at 830-995-2511.
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
REAL ESTATE SALES – ARE WE PAYING TOO CLOSE ATTENTION TO THE WAY SALES “BOB UP AND DOWN”? FREDERICKSBURG TEXAS JANUARY & FEBRUARY 2009 RESULTS
March 4th, 2009 categories: About the Local Market, Assessing the Local Market
President Barack Obama said on Tuesday that paying too close attention to how Wall Street “bobs up and down” could lead to bad long-term policy. “What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability of the United States … to regain its footing.”
The same may be true when looking at real estate sales in Fredericksburg, Texas which were WAY down in January and February … just 33% of the previous year’s figures*. Sounds horrible? Should you run from this market?
It would seem to be a paradox … but Fredericksburg actually is thriving this year!
Pass through the town any day of the week, especially on weekends and you’ll see a city that is booming. Tourists galore!
Doesn’t quite fit with the real estate numbers? Well, go figure!
What we are hearing from the retailers in Fredericksburg is that sales are up! More people! And they’re still spending!
What’s happening is that, instead of taking trips to Europe, the Carribean, and other exotic places, people in Texas are taking small trips within the state … and Fredericksburg, still characterized by its German heritage, is a huge draw to the local tourists. Close to Austin, within driving distance of Dallas and Houston, and “smack dab in the middle of the Texas Hill Country,” people are taking weekend and extended visits to the Fredericksburg area.
Our feeling is that many of those tourists will take note of this quaint Texas town and, once optimism returns, will resume real estate purchases there.
Given that outlook, right now would be a prime opportunity to get into this market. Buyers are getting better deals than they have been in a long time! Give us a call if this interests you. We’d love to help you find your Hill Country dream home or ranch.
Our encouragement to you: Live life fully and yet wisely! And keep a long term perspective!
~
~
*Also, keep in mind that a large portion of Fredericksburg real estate sales are large acreages and ranches. Just a few ranch sales can make up a large portion of the overall sales figures and a decrease in the number of ranch sales can make the picture look worse than it actually is.
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
Retiring in the Hill Country: The Secret is Out!
May 6th, 2008 categories: About the Local Market, Relocating to the Hill Country
Check out this story from the Dallas Morning News about retiring in the Texas Hill Country:
Boomer retirees are loving what Texas Hill Country affords them
12:21 PM CDT on Tuesday, May 6, 2008
Baby boomers’ growing desire to retire to small towns is turning the Texas Hill Country into one of the nation’s hot spots for the silver-haired set.
Also Online
Aging special focus: How to live a longer, healthier life
The natural beauty and relative affordability of the area west of Austin and San Antonio have put towns such as Fredericksburg, Kerrville and Marble Falls on national lists of popular retirement places.
“The secret’s out,” said Frederick Day, a demographer at Texas State University-San Marcos. “If you’re approaching retirement, head for the hills.”
ERICH SCHLEGEL/DMN
Jim and Pam Spruiell went from a duplex in Dallas to 30 acres and a 3,700-suare-foot limestone house just west of Fredericksburg when they eased into retirement.
View larger More photos Photo store
With the oldest boomers now eligible for Social Security, many are moving to smaller communities on the outskirts of metropolitan areas.
“The Hill Country fills the bill, with its lakes, rivers and rolling hills, for city-weary retirees, but also its proximity to Austin and San Antonio for those who want to hop in the car for an evening or weekend on the town,” Dr. Day said.
Perennial favorites Florida and Arizona have become too crowded for many retirees’ liking and are losing out to places like the Hill Country, said Gene Warren, head of the Thomas, Warren and Associates consulting firm in Phoenix.
“The Hill Country has joined the upper tier of retirement destinations, and its success shows every sign of building on itself in the next decade,” said Mr. Warren, who advises communities across the country on how to attract retirees.
A longtime retirement haven for Texans, the quaint towns west of Austin and San Antonio now also draw older residents from beyond the Lone Star State.
Kerrville real estate agent Ricki Eichler says more than half of her clients come from out of state, including California, Florida and New York. “There’s something for everyone here – from upscale active-adult developments to very affordable mobile home communities,” she said.
Though the weakened national economy has lately forced a few Hill Country-bound retirees to delay their moves until they can sell their current homes, Austin real estate analyst Mark Sprague remains bullish about the region.
“The relatively low cost of living, relaxed environment and pleasant weather are big pluses among homebuyers from other parts of the country,” he said. “People from the East Coast ask, ‘What do you mean you don’t have hurricanes every year?’ ”
Affordability a key
Prices have escalated in pockets of the Hill Country – some lakefront property at Horseshoe Bay went for $1 million last year.
But much of the area is still seen as a bargain, especially among retirees from pricey housing markets.
Del Webb, the nation’s largest builder of active-adult communities, is developing its second project in the region, Hill Country Retreat, on the west side of San Antonio. And it’s expanding its first project, Sun City Texas in Georgetown.
ERICH SCHLEGEL/DMN
Jim Fox, a former Dallas principal, retired to Frederickburg, a top Hill Country haven.
View larger More photos Photo store
Hill Country Retreat will have 2,000 homes when complete. Sun City Texas has 5,100 homes and will get 2,400 more.
Gillespie County’s economic development director, Greg Snelgrove, said many retirees moving to Fredericksburg build custom homes. Others buy older bungalows and remodel them.
“Many retirees take the equity from their previous homes and pay cash here,” he said. The median price for an existing home in the town named after Prince Frederick of Prussia was $236,000 last year.
Former Dallas residents Jim and Pam Spruiell bought 30 acres just west of Fredericksburg and built a 3,700-square-foot limestone house where they can sit on their patio and enjoy the deer, rabbits and turkeys that happen by.
“It’s a far cry from the duplex we had back in Dallas,” Mrs. Spruiell said.
The 60-something couple had been frequent weekend visitors to the area when they worked full time in Dallas, so settling in Fredericksburg seemed the natural thing to do when they decided to ease into retirement several years ago.
“Everything’s laid back here,” she said. “We let our two cows cut our grass.”
A boon to towns
Officials say retiree migration is an economic blessing for Hill Country towns, as the new arrivals spend an average of $36,000 on goods and services and pay $3,000 in local taxes each year.
Retiree couples moving into a community each create about three jobs, Mr. Warren said. Besides employing builders and Realtors, they use service providers such as financial planners, doctors, lawyers and veterinarians.
“For retirees, pets are simply kids in fur coats. Older people spend almost as much money on their pets as they do on their grandchildren,” he said.
Fredericksburg’s banks see green when new retirees walk through the door, Mr. Snelgrove said. Gillespie County ranks 103rd among Texas’ 254 counties in terms of population but scores 59th in bank deposits.
Fredericksburg also has six Edward Jones brokerage offices, far more than anyone would expect in a community of 10,000 residents, he said.
Kerrville’s former mayor, Joe Herring Jr., says his town doesn’t promote itself as a retirement haven because it doesn’t need to.
“I suppose we might do some marketing if things ever slowed down,” he said. “Mostly, we just try to be ready for our new retirees when they arrive.”
Kerrville, with a population of 22,000, boasts a symphony orchestra, two live theater companies and a number of fine restaurants. The town recently celebrated the opening of the 125-bed Peterson Regional Medical Center.
Many of the recent retirees become engaged in their new communities. Some take part-time jobs, while others volunteer at churches, hospitals, museums and schools.
Jim Fox, a former Dallas principal, retired to Fredericksburg only to realize he had more time on his hands than he wanted. As he put it, “I married my wife for better or worse but not for lunch every day.”
He manages a photo gallery two days a week, does photography work, volunteers at church and sings in a choir. “When you get involved, you’re treated like you’ve been here forever,” he said.
In Marble Falls, Chamber of Commerce director Christian Fletcher said the governing boards of local nonprofit groups are filled with former corporate executives.
One area retiree who was a co-founder of America Online established a Boys & Girls Club and helped create an endowment for scholarships, Mr. Fletcher said.
Mr. Warren said retirees have sometimes been wrongly portrayed as economic burdens on communities. “If you look at the jobs they create, the taxes they pay and the experience they bring, a town can’t get too many of them,” he said.
RESPOND WITH YOUR MOOS & VIEWS HERE
| Discussion: No Comments »
