Revolution Properties Blog

A resolution can be summed up as a firmly determined course of action, and a revolution can be understood as a momentous change.  It’s the time of year when we instinctively begin to look at areas that need improvement, and we resolve to reach our loftiest goals.  Below are three real estate resolutions to make, and a thought or two with each to get you to a state of revolution:

1. “I resolve to buy a house this year!”  Whether for a primary residence or investment purposes, buying property can be a very good decision.  Before you do, though, map out a plan to determine how you’re going to pay for it, who you’re going to need help from, and what your ultimate goals are.
2. “I resolve to sell my property this year!”  Do you need to move into a differently sized home, or to a better location?  If so, resolving to sell your current property can get you well on your way.  But, again, start by planning just how you’re going to go about getting the job done, then follow that plan throughout.
3. “I resolve to rent this year!”  The musical and movie are great, but on a personal level the benefits of renting can be even greater.  Whether looking to rent for yourself, or to someone else, creating a plan will help with each step of the way.

Whether buying, selling or renting, we can be your helping hand to get you from resolution to revolution!

On this date in 1872, Susan B. Anthony cast a vote in the presidential election, and further stamped her role in the women’s suffrage movement.  Her dedication to see equality between men and women has changed the American landscape in many ways.

And speaking of women, I came across an interesting statistic today concerning our female friends in relation to homeownership.  According to the U.S. Census Bureau’s 2005 Report on Homeownership, women in America are just as likely to own homes than  men.

Not surprisingly, 84.2% of married couples own homes.  But in the single-owner demographic, 59.6% of single females were homeowners, making them the second-highest group most likely to hold title in real estate.  A little lower on the list, but still with an impressive 51% homeownership rate, were single mothers.

One reason the rate of homeownership for females has risen to such heights is the availability of various grants and programs tailor made for women.  This is important, because the one area of equality that hasn’t quite increased for women as much as many would like is income.  But it’s a very telling statistic that although single women are among the lowest-paid, they are among the most likely to own a home.  The grants and programs are provided to these hard-working, dedicated individuals.

And there it is.  Susan B. Anthony was a visionary and has been an example for many, and that has resulted in allowing a lot of women to become a part of the American Dream.

I get asked frequently concerning the condition of the local real estate market.  While there are a myriad of ways in which to study each marketplace, the set of data that have been most helpful to me are the ones referenced here.  This information is based on figures collected from the organization to which I am affiliated, the Bloomington Board of REALTORS©, and is a reflection of residential properties sold through the services of our board for the month of October, 2007.

The total volume of all residential properties (not including condominiums) was $17,415,104.  With 112 homes selling, that translates to an average price of $155,492.  The median price of homes sold in this period was $135,900. 

Two other critical numbers are the Average Days on Market (DOM) and average seller’s concession. 

The DOM details on average how long it took for homes to sell, and that time was a little over 114 days for the month.  3½ months is a bit longer than we’d like to see, but in light of the uncertain financial times, this number could be a lot worse.

The amount seller’s were willing to come down from their asking price in October was 3.37%.  The national average for first offers on a property usually hovers around 9% under list price, with final negotiated price around 95%.

Total Volume Sold:                                                                         $17,415,104.

Average Price of Sold Homes:                                                       $155,492.

Median Price of Sold Homes:                                                         $135,900.

Average Days on Market:                                                                114.18

Average Percentage of Concession from List Price:                   -3.37%

October 29, 1929 was a gut-wrenching day for investors in the American stock market.  It marked the day in the episode known as the Stock Market Crash of ’29 that panic selling reached fever pitch and the financial situation of the nation began spinning wildly out of control.  It was tough for a lot of reasons, but perhaps one of the main difficulties was the length of time it took to recover.  Economist Richard Salsman said “Anyone who bought stocks in mid-1929 and held on to them saw most of his adult life pass by before getting back to even.”  That fact alone no doubt caused a lot of grief and heartache.

So what does this have to do with real estate?  Lots, actually.  Though homes are bought and sold in a completely different marketplace than on Wall Street, a lot of the decisions in the process are made with similar types of information.  A home has been referred to as the single-largest investment most people will ever make, and that truth is worthy of our consideration.  Something of that magnitude needs to be entered into advisedly, and carefully.

So, with all of the news today about uncertainties in real estate, might we just suggest that in times like these, there yet remains much opportunity to make sound investing decisions.  Whether in the market for a personal dwelling, or for residential rentals or commercial leases, a quick glance at the market will reveal plenty of choices for the savvy investor.

As we get things rolling at Revolution Properties, another bit of exciting news for us developed this week in the final production of our signs. The layout for our signs is very dear to us, so perhaps a little background on its creation is in order.

Jeremy’s sons, Boston and Britain, are the inspiration. These two toponyms are quickly recognized as very important locations in American history, especially early history and the Revolutionary War. Since the boys are the namesakes of the company itself, we thought it would be fitting to let them have a say in the design of the sign. Using the traditional American colors red, white and blue, and impressions loosely based on the British flag, the two youngsters decided on the image you see here. With a few little tweaks by the design team at Johnny’s Signs and some input from us, the final product has been unveiled!

It is a fact, though, that these signs will look best in yards and not on the company shelves. With the launch of this part of our advertising world we’re asking you for any and all business you can send our way. We have a strong affinity for referral clientele, and it is our sincerest pledge to treat all of our customers with the utmost respect and dedication. If you or someone you know is interested in selling, buying, or leasing residential or commercial real estate, please feel welcome to give us a call. Let the Revolution begin!

I read just a few minutes ago when I signed in that there were already over 63,000 new posts submitted at wordpress so far…today! I’m sure I’m not going to be able to contend with that many worthy bits of writing, so I’m beginning my latest blogging site with a concession. Yep, I’m giving up. I’m not even going to try to scream a virtual “pick me” in the midst of such a crowd.

Besides, I’m just going to be focusing on the sometimes boring subject of real estate. Oh, don’t get me wrong, real estate is a popular subject, there’s no doubting that. It’s just when you think of a blog, the ins and outs of the real estate market aren’t what most people want to read about. No, my focus is going to be on the downright snazzy aspects of all things real estate in my local marketplace, Bloomington, Indiana.

If I see, hear, smell, taste, or feel anything that impresses me as cool, attractive, fascinating, or otherwise worthy of a readers’ time, I’ll post about it here. It may be the kitchen at the house I’ve recently listed, or it may be the drive to the home I’ve just shown. Perhaps it’ll be about a gratifying experience at a local business establishment. Just know each post will be informative and exactly 250 words long. I think whatever I find interesting is worth at least that much print, and can be summed up not to exceed that amount.