Chicago Real Estate Search Chicago Real Estate Chicago Real Estate Chicago Neighborhoods Downtown Chicago Condos Weekly Email Subscription
Welcome to Chicago Homes for Sale by Dean's Team Sign in | Help

BlogChicagoHomes.com

Most Complete Chicago Real Estate Blog! Daily Updates on Chicago Homes for Sale and Real Estate . . . Great Chicago Neighborhoods . . . Living in Chicagoland . . . Your Comments Welcome!

Tags

News

  • Real Estate Blog

Archives

HELLO FROM THE NATIONAL ASSOCIATION OF REALTORS ANNUAL CONVENTION IN LAS VEGAS, NV

WE'RE REPORTING FROM LAS VEGAS, AND THE 2007 NATIONAL ASSOCIATION OF REALTORS ANNUAL CONVENTION!

Paris Las Vegas Casino, Copyright Philip Greenspun, All Rights Reserved

Earlier this week, Sue and I joined over 30,000 fellow Realtors (roughly 3% of the estimated 1.1 Million Licensed Realtors throughout the United States) at the beautiful Venetian Resort Hotel & Casino for one of the largest annual trade shows in the U.S.  To our surprise, as we were unpacking, we found a small, furry, white little visitor moving around in one of larger bags! 

Photo Courtesy of Philip Greenspun, Copyright 1985-2005, All Rights Reserved 

Indeed, without us knowing, our Ace Reporter on Four Paws, Buddy Holly Moss, stowed away with us on our trip here.   That's Good News, however - he can help us report on many updates, trends, and topics that will affect the market for Chicago Real Estate in 2008.

Today, I will tackle a few important, yet random, thoughts and ideas we will bring back to Chicago next week, to help our friends and clients selling or buying Real Estate in the coming months.  Buddy will throw in his two cents from the Convention Floor tomorrow.

Applicable to professionals in any sales or marketing - prepare an Elevator Infomercial.  In 30 seconds or less, be able to tell anyone what kind of work you do, in a memorable, and unique way.  Mine, for Dean's Team - "Our Team thrives in tricky and challenging real estate transactions, where often times others come up a little short.  We can get you more walk-away money when you sell, and the best possible deal when you buy, with high competence, professionalism, and hustle.  Would you like me to show you how?"  - from noted Business Strategist Julie Ryan, out of Sydney, Australia.

Statistics indicate Google searchers initiate 2.7 Billion Searches each month.  This is especially true of younger Generation X and Generation Y consumers, who, according to the National Association of Realtors, represent over 80% of first-time homebuyers.  You wonder, where did people get all their information BEFORE Google?

Successful home sellers will focus on novel, locally-based marketing, emphasizing online media, with a creative twist.  Again, this from Julie Ryan.

Within the coming five years, Real Estate Teams will epitomize Customer Service to home buyers, sellers, and investors.  No single-person Real Estate Practitioner can humanly match the benefits, added value, and coverage a specialized, highly-skilled multi-person Team will provide. - from Ralph Roberts, noted Real Estate Practitioner, and Business Coach, Warren, MI.

"Opportunity knocks - always at the front door.  But it's wearing overalls, and resembles work."  - from John Featherston, RIS Media, Norwalk, CT.

"Over 80% of the home buying public buys using online resources, but still, today, only 20% of the money used to market properties is spent online," - from Harley Rouda and Kaira Sturdivant Rouda, Real Estate Brokers, Columbus, OH.

"In order to succeed, your desire to succeed must exceed your fear of failure," - from Bill Cosby, Entertainer and Author.

In Chicago IL, and the North and Northwest Sides of the City of Chicago served most frequently by Dean's Team, the average Market Absorption Rate for condos, single-family homes, and two to four-flat small apartment buildings is just under 18.2 months.  In other words, theoretically, it would take over 18 months to clear existing property inventory.  Six months ago, the Absorption Rate was just over 12.1 months.  One year ago, in late November, 2006, the Absorption Rate was 11.8 months.  According to these benchmark figures, the time to sell, on average, has increased over 54% within the past year in Chicago. 

Using similar raw statistics, only approximately 41% of the properties put on the market today, will sell within six months.  In other words, the vast majority of listed properties, or 59%, will not sell within six months. - from NAR and MLSNI Data, for selected North and Northwest Chicago Neighborhoods.  This indicative benchmark is used extensively by national Real Estate Trainer Zan Monroe of Fayetteville, NC.  Within the coming week, Dean's Team will compile specific statistics for many Chicago Neighborhoods, and publish via this blog and our Team Web Center.

More to come, from Buddy, as the show progresses.

DEAN'S TEAM LEADER,

DEAN MOSS

Posted: Wednesday, November 14, 2007 10:11 PM by Dean's Team

Comments

BlogChicagoHomes.com said:

THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE

# November 16, 2007 3:59 AM
Anonymous comments are disabled