RE/MAX Allegiance No. 1 Again

According to the April 2010 issue of RISMedia Real Estate Magazine’s 2010 Power Broker Report, RE/MAX Allegiance had the highest sales volume of any RE/MAX company and ranked 22 compared to all real estate companies in the country. The only Virginia based real estate company with higher sales was Long and Foster, but it has over 12,000 agent compared to the 657 RE/MAX Allegiance agents. On average each RE/MAX Allegiance agent had $3,955,792 in sales, which is more than twice the sales of an average Long and Foster agent.

What this means to buyers and sellers of real estate is that when they use a RE/MAX Allegiance agent, like me, they are getting the benefit of more experienced agents, with better training and better office support, and that leads to a better result in their real estate transactions.

Video of Current Condo Listing

I did my first video of a condo listing and posted it on Youtube. Take a look and tell me what you think.

4067 S. Four Mile Run #201

Good News In Our Local Market

Yesterday I wrote that local real estate markets vary from the national market and locally, the market can vary by community, zip code, subdivision and even by street. Here is some local market information that just came out for Arlington:

For the month of March, both average and median prices  increased from March of 2009. The total number of units sold increased and the days on the market decreased. These are all positive indicators and point to a better period for home sellers.

Over the last 6 months, these prices peaked in December, reflecting the run-up in prices as the Nov. 30 deadline for the first time home buyer credit approached. Prices dropped in January reflecting both the extension of the home buyer credit and the typical seasonal drop. Prices for February and March increased and will probably continue to increase due to both the Spring market and the upcoming April 30 deadline for the first time home buyer credit.

Fact: All Real Estate Headlines Are Not Local

None of us are immune to the constant stream of negative news about the real estate market. There’s no denying the fact that the market has suffered, along with our country’s economy, over the past couple of years.

Unfortunately, this has created a serious dilemma as many consumers unwittingly base their real estate decisions on national media reports. Those of us in the industry live by the term “all real estate is local,” and as a consumer, so should you—otherwise, you run the risk of making an irreversible real estate mistake.

The truth, which you won’t find in the national media, is that real estate markets not only vary from region to region but from county to county, neighborhood to neighborhood…even street to street. I know from my national network of leading real estate professionals, The Top 5 in Real Estate Network®, that there is tremendous variation in home sales prices from locality to locality, and that buyers and sellers are often heading into—or worse, avoiding all together—a real estate investment based on misinformation from national media reporting.

Therefore, if you are thinking about buying or selling a home, it’s essential that you talk to a seasoned real estate professional in the areas you’re considering. Keep the following tips in mind when considering a real estate sale or purchase:

1.  Consult with a local real estate professional—like a Member of Top 5—for the most up-to-date information on the local market.
2.  Ask for statistical reports and trend graphs—the hard facts. Real estate professionals have access to actual data that can be broken down into extremely finite components, such as a particular street or neighborhood.
3.  Ask for comparative reports for the last 3-4 months of the current year, versus the previous year. This will reveal the latest market trend and provide you with concrete facts.
4.  Media reports can vary widely based on state, city, and neighborhood – read, listen, learn, but always revert to the facts for the specific area in which you are looking, especially if you are relocating to a different state or region.
5.  Also take seasonal considerations into account. In vacation-destination areas, the numbers will vary greatly from national and state data.

For many real estate consumers, today’s market is an unbelievable opportunity to buy or move up to a different home. Don’t let the national headlines scare you away. Consult with a local real estate professional to get only the facts that matter to your specific situation and location. Please e-mail me for more information and pass this article along to others who might benefit from the real facts.

Hello world!

This is my first post on my blog. My plan is to update it every couple of days. Be patient until I get in the habit.

I will include information about what is going on in various areas of Arlington. I help buyers and sellers of real estate in the Arlington, Virginia area and the surrounding Northern Virginia suburbs.  My hope is to provide information that is useful to people who live in this area or are thinking of moving here.

My website, www.tedkramer.com has lots of stuff you can review right now, including pre-set searches for either single family houses, townhouses/duplexes and condos in areas that are within 1 mile of each Metro stop in Arlington.

Here is some positive news on the real estate front. Yesterday, the National Association of Realtors reported that pending home sales in February 2010 by 8.2% from January. This is 17.3% above a year ago. This may be the result of the extension of the first time home buyer credit of $8,000 and the exising homebuyer credit of $6,500. To get these credits, buyers have to have a ratifiec contract no later than April 30, 2010 and they must close on the purchase no later than June 30, 2010.