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Current Market Conditions: Knowledgeable Insights on Local Issues

Gain knowledgeable insights on local market conditions from Kate Vail, Team Leader of the Kate Vail Team at Coldwell Banker Preferred. Discover strategies for overcoming misinformation that buyers and sellers often bring to the table, and learn about important factors such as pricing, condition, incentives, and staying in touch with clients. Access data for Philadelphia County, Montgomery County, and Delaware County to make informed decisions. Knowledge is power!

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Current Market Conditions: Knowledgeable Insights on Local Issues

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  1. Current Market Conditions: Knowledgeable Insights on Local Issues Kate VailTeam Leader of the Kate Vail Team Coldwell Banker Preferred

  2. Overcoming Misinformation:Buyers • Buyers always will come in with the certainty that the market is at least 20-30% undervalued. • They will always want to get the “deal of the century.” • Overcoming their misinformation at the beginning of the process of buying is the MOST important step in successful right now. • The process has at least 2 extra steps that it had before the recession for buyers and smart agents. • It is important to let buyers take ownership of the process more than ever for a successful and happy client. • Constant contact is needed for both the agents and the buyers to keep deals together. • DO NOT assume other affiliates are doing their job…call!

  3. Overcoming Misinformation:Sellers • Sellers do not want to “give it away.” • Know thy Seller! Sellers motivation needs to exceed the current market conditions. • Price is the best marketing tool. • Condition needs to be improved pre-marketing. • Incentives need to be added weekly that appeal to certain groups of buyers. • Play up the negative if it cannot be erased. • Effective Agents know the market statistics like the back of their hand. • Use feedback from buyers to motivate your Sellers to write reverse offers or act on negative comments. • STAY IN TOUCH! Ask the seller how they want to hear from you-Text, email or phone? How often?

  4. Philadelphia County Active Listings vs.. Sold Listings

  5. Philadelphia County Average Sold Price Vs. Average Listed Price

  6. Philadelphia County Inventory Absorption and Average Days on Market

  7. Philadelphia County Bank Owned/Foreclosure Activity vs. National Source: RealtyTrac.com

  8. Philadelphia County Foreclosure Activity By Month Source: RealtyTrac.com

  9. Philadelphia County Foreclosure Average Price Point Source: RealtyTrac.com

  10. Summary • Data is available for all locations – access it! Knowledge is power. • Critical selling/buying factors. • Popularity of staging, auctions… • Financing considerations.

  11. Montgomery County Active Listings vs.. Sold Listings

  12. Montgomery County Average Listed Price Vs Sold Price

  13. Montgomery Inventory Absorption and Average Days on Market

  14. Delaware County Active Listings vs. Sold Listings

  15. Delaware County Average Listed Price vs. Average Sold Price

  16. Delaware County Inventory Absorption and Average Days on Market

  17. Montgomery County County Bank Owned/Foreclosure Activity vs. National Source: RealtyTrac.com

  18. Montgomery County Foreclosure Activity by County Source: RealtyTrac.com

  19. Montgomery County Foreclosure Activity By Month Source: RealtyTrac.com

  20. Montgomery County Foreclosure Average Price Point Source: RealtyTrac.com

  21. Delaware County Foreclosure Activity by County Source: RealtyTrac.com

  22. Delaware County Foreclosure Activity By Month and Type of Foreclosure Source: RealtyTrac.com

  23. Delaware County Bank Owned/Foreclosure Activity vs. National Source: RealtyTrac.com

  24. Delaware County Foreclosure Average Price Point Source: RealtyTrac.com

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