When comparing the week of December 21-27 with the week prior, the number of times an RMLS™ subscriber opened a Supra lockbox decreased 41.5% in Washington and 42.9% in Oregon.
Click the chart for a larger view
Archive
View an archive of the Supra lockbox statistical reports on Flickr.
When comparing the week of December 14 – 20 with the week prior, the number of times an RMLS™ subscriber opened a Supra lockbox decreased 2% in Washington and 7.2% in Oregon.
Click the chart for a larger view
Archive
View an archive of the Supra lockbox statistical reports on Flickr.
When comparing the week of December 7 – 13 with the week prior, the number of times an RMLS™ subscriber opened a Supra lockbox decreased 9% in Washington and 11.2% in Oregon.
Click the chart for a larger view
Archive
View an archive of the Supra lockbox statistical reports on Flickr.
Comparing Supra lockbox openings by RMLS™ subscribers between June 8, 2009 and June 21, 2009 there was a 6% decrease in Oregon and a 1.9% increase in Washington from the previous week.
Click the chart for a larger view (Oregon, left; Washington, right)
I think one of the coolest things about our upcoming release for mapping on RMLSweb is that you’ll be able to save custom Map Ranges & use them in several different searches (including Advanced Search, Hotsheet Search, Open House Search, Broker/MLS Tour Search, Actual Expired Search and Prospecting).
What does that mean to you, though? I think it will mean different things to different agents, but here’s one scenario:
You have buyers that absolutely want to buy in a particular neighborhood, let’s say St. Johns in Portland. You can set up a Prospecting profile for them and draw the custom map around JUST that area. Now the Prospecting results will only send them listings from the St. Johns neighborhood (as you define it).
Your buyers then find the house of their dreams. They’re ready to put in an offer. Since you’ve saved your Map Range for St. John’s, you can now use it to find comparables through Advanced Search when you are putting together the offer.
Here’s a quick demonstration from John Ayers, our Help Desk Manager:
To schedule a training session on this new release, call your local RMLS™ office, or e-mail training@rmls.com.
Are first-time homebuyers making an impact on the real estate market?
I recently received a statistical request from a writer at the Oregonian who wanted to know if over the last year the percentage of buyers in lower-price ranges has risen. As it turned out, in Portland, those buying homes in the $0 – $499,999 range now make up nearly 4% more of the market of homes that sell compared to 2008, while those buying homes from $500,000 – $1+ million has dropped off about 3.6%.
This influx could be attributed in part to first-time homebuyers who are jumping at the opportunity that is being presented to them, given the $8,000 tax credit, historically low interest rates and significantly lower purchase prices.
You can count me among the many first-time homebuyers taking advantage of the opportunity and I am seeing friends taking advantage of the deal as well. If they have some money saved, jobs they feel secure at, and a desire to own – they are looking to buy.
Temper Expectations
You’ve probably dealt with first-time homebuyers who expect amazing homes for their money. Sure, maybe they’ll get one, depending on their price range, but my experience was not as such.
In my price range ($200k – $230k), what I found in the areas that were attractive to me, was generally good, but older homes that may need some updating (and in fact, that’s what we bought).
My point is, remember to manage the expectations of these buyers, as they may have grand ideas in their head due to some reports in mainstream media. Obviously they should buy a home that they’ll be happy in, but also remind them that this is an amazing opportunity right now to make a sound investment for the future.
Image courtesy of bellemedia.