Saturday, October 14, 2006
Real estate convention,Tennessee real estate market conditions and vacation!!
On October 3rd, I left Dyersburg and went to San Antonio to attend the Tennessee Association of realtors annual convention. As the 2005 (past president) of the Dyersburg board of realtors, I assumed the role for 2006 as the TAR director representing our board. Because of important information affecting our board and real estate in general, my board paid my expenses for the trip.
Not only did we receive extensive classroom training on subjects covering ethics, changing market conditions, how to better represent your client,etc but I also had an opportunity to discuss market conditions with other realtors from across the entire state of Tennessee.
Here is a synopsis of what I learned. The hottest area in real estate is in the middle Tennessee area especially around Franklin and Brentwood. Their market is being driven by the recent announcement of a major car manufacturer moving to the area. My realtor friends in East Tennessee say they are still busy but instead of working alot of multiple offers on properties they are getting just one offer at a time for the properties. This means the average marketing time there has changed from 30 days to 60 days. Many of the realtors there welcome the slower pace. The realtors I talked to from West Tennessee all reflect the same market conditions we are currently having in the Dyersburg area. The average marketing time for properties priced within 2% of value are selling within 60-90 days. All of the realtors I talked to stated that properties priced at actual value are selling quickly and the properties priced above value are taking alot longer to sell.
I had a great trip to San Antonio but left there to take a vacation in Florida. I went to Destin and relaxed on the beach and did some deep sea fishing. Our boat caught alot of big King mackerel. I had my blackberry with me and negotiated 3 property sale contracts while on my trips.
My vacation is over and I am back to work full time. My office staff and I are indeed very busy assisting clients and customers both on the listing side and sales side.
Not only did we receive extensive classroom training on subjects covering ethics, changing market conditions, how to better represent your client,etc but I also had an opportunity to discuss market conditions with other realtors from across the entire state of Tennessee.
Here is a synopsis of what I learned. The hottest area in real estate is in the middle Tennessee area especially around Franklin and Brentwood. Their market is being driven by the recent announcement of a major car manufacturer moving to the area. My realtor friends in East Tennessee say they are still busy but instead of working alot of multiple offers on properties they are getting just one offer at a time for the properties. This means the average marketing time there has changed from 30 days to 60 days. Many of the realtors there welcome the slower pace. The realtors I talked to from West Tennessee all reflect the same market conditions we are currently having in the Dyersburg area. The average marketing time for properties priced within 2% of value are selling within 60-90 days. All of the realtors I talked to stated that properties priced at actual value are selling quickly and the properties priced above value are taking alot longer to sell.
I had a great trip to San Antonio but left there to take a vacation in Florida. I went to Destin and relaxed on the beach and did some deep sea fishing. Our boat caught alot of big King mackerel. I had my blackberry with me and negotiated 3 property sale contracts while on my trips.
My vacation is over and I am back to work full time. My office staff and I are indeed very busy assisting clients and customers both on the listing side and sales side.
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