We are 10 weeks into 2011 and what do we have to show?

Well 2011 is starting out better that 2010, so I’m optimistically thinking this will be a good year. Except … these darn fuel prices are killing me! When your job requires you to drive daily and unexpectedly, your fuels cost rise quickly. This has caused me to rethink my entire budget and I may need to say no to showing homes to some potential customers unless I know they are true buyers and not tire kickers.

As we screen clients and place a score above their heads, I think about the ones I have found in the past that I thought would not never be able to buy, but some were the strongest buyers I’ve had. So how do we evaluate a potential client? This is difficult as a Realtor. We see everyone as a sale, and we need every sale we can get. The Fresno Association of Realtors show just under 3500 licensed agents in this market and in 2010 there were about 750 closed sales per-month. Granted, most of these sales had a listing and a selling agent, but that still leaves more than 50% of the licensed agents without a paycheck. It’s real stiff competition and every client counts. So with rising fuel cost we must really tighten our belts and work efficiently to make a buck.

So here I am.  

• I’ve started utilizing my phone and the Internet more hoping to weed out homes that potential clients will not want.
• I am thinking of requiring every client (new and old) to be pre-qualified and if they say they’re paying cash, I will request a copy of their bank statement to verify funds.

I know I should have been doing this all along and many a veteran Realtor has told me this, but this is a percentage game and the less people I deny my services too the more I see as opportunities to sell. Dilemma!

Market Stats

Well, the good news is the local MLS is holding just under 3,500 active listings, and the pending sales are rising, meaning there are some paydays out there and people are looking to buy. Februarys closed sales were 670, just slightly less that Januarys 687 closings (this was a record January). Month’s supply of homes climbed from 4.5 to 5.1.  I’m still seeing prices drop, but nowhere near as many as in January.  

Home prices and interest rates are GREAT making this a wonderful time to buy a new home or investment property.

February 2011 MLS Activity

Give me a call and lets go home shopping!