Big Bank Owned Bargain Sale in SW Florida

The Ellis Team at RE/MAX Realty Group conducted a big blowout bank owned bargain sale the weekend of March 15. Several homes were sold, however we've listed several more at baragin prices. We've setup a special website just for these bank foreclosures in Fort Myers, Cape Coral, and Lehigh Acres Florida.

We can be reached at 800-860-4042 if you're interested in purchasing bank forclosures in SW Florida at bargain prices.

Having Trouble Making Your Mortgage Payments?

You are not alone if you are struggling right now with your mortgage payments. With home ownership at an all-time high and some questionable lending practices over the recent years, many people now find themselves in a bind keeping up with their bills. No matter what kind of mortgage you have, you need to understand your options and work with your lender and experts to avoid losing your home if at all possible. Following is a brochure put out by NAR (the National Association of Realtors) that may help you. Click here.

State of the Real Estate Market in Alaska

If you are thinking of listing your home in the spring, now is the time to start cleaning up and clearing out the clutter so you’ll be good to go in 2008! I wrote a “State of the Real Estate Market” article for the Frontiersman newspaper that comes out at the end of the month. This is good information for anyone looking to sell in 2008 or anyone just wanting to know the real facts about the residential real estate market.
Attention all seniors graduating from High School in May of 2008. Apply for one of our three scholarships we will be awarding this year. We give away 3 scholarships totaling $3000 each year to graduation seniors.
Attention all renters! This is a great time to buy with low interest rates and several new homes to choose from. Stop throwing away rent and start earning equity.
Red Cross award. The local Red Cross Chapter Thanks the Kristan Cole Team for monetary contributions and whole blood and plasma donations. Also don’t forget about our warm coats—warm hearts coat drive for children. Drop off at our office anytime this month.

BIG ROCK FISHING TOURNAMENT

Below is an exert from the Big Rock Newsletter. The Big Rock Marlin Tournament is held in Morehead City and soon to celebrate its 50th anniversary. The tournament brings in tourists and sports fishermen from all over to Carteret County.

"Big Rock History"

The Big Rock Blue Marlin tournament began in 1957 when a few local businessmen known as the Fabulous Fishermen decided to offer $250 silver dollars to the first fishermen who could catch a blue marlin off the Crystal Coast. On September 14, 1957 Raleigh angler Jimmy Croy fishing aboard the Mary Z with Capt. K.W. “Bill” Olsen, landed a 143 pound blue marlin. A tournament was born. In the early years, the Big Rock could barely be considered a tournament. There were no rules of consequence and only a few boats participated. In 1965, a listing of prizes included one quart of varnish. Wow, has it ever grown from that!Entries in 1970 were 35 and in 1973 Bump Styron, owner of the Morehead City Yacht Basin gave the tournament its current name, Big Rock Blue Marlin Tournament. The tournament entrants topped 111 in 1979 and grew to 177 boats in 1989. The Big Rock currently averages 190 boats and nearly 1500 competitors. The purse has exploded from that first 250 silver dollars into a whopping $1,568,950 in 2007.

Investors prowling around

Over at http://highlands-ranch-real-estate.blogspot.com/2007/09/investors-prowling-around-denver.html I just posted a note about investors.

I would love your comments and what you think of this report and how FSBOs should be prepared for them.

Southeastern Michigan Real Estate

Here in southeastern Michigan, as in many areas across the country, we continue to have a swollen inventory of homes for sale. It started with overbuilding and overly inflated home prices. Eventually the market had to re-adjust, and when it did so, foreclosures added to our already large inventory of homes for sale.

Now with money getting tighter, which means less buying power, there are fewer home sales. Mortgage rates have been increasing. And every time the mortgage rates go up, even a quarter of a percent, a large number of potential buyers are disqualified from the marketplace. Additionally, a number of mortgage companies are going out of business, with American Home Mortgage Company - the tenth largest in the country - as the latest to close their doors. In recent years mortgage companies granted mortgages to just about anyone, including those who couldn’t or wouldn’t prove their income, those with no down payment and even those with very poor credit. But today, with foreclosures climbing steadily, almost all mortgage companies have re-enacted the tight lending restrictions that were common decades ago. The result of all this is that there are fewer buyers now to purchase those homes on the market so the inventory continues to be swollen.

Statistics from First American Real Estate Solution show if one house forecloses in a neighborhood, the average house in that neighborhood loses five percent of its value. If eight percent of the houses in the neighborhood foreclose, the value in that neighborhood goes down twenty percent.

Recently President Bush has been exhorting the lenders to try to help out those who are facing foreclosures. Just what can be done is yet to be seen, but some lenders are more willing than others to try to work with a homeowner who is in financial trouble. If you or a family member are having trouble making your mortgage payments, it is advisable to discuss your situation with your lender now. Or, if you have a very experienced Realtor who has seen good and bad markets over time, you might want to discuss your situation with that person before going to the lender.

Mid Year Real Estate Report Wasilla Alaska

The residential market is down 27% compared to this same time last year. That means that 27% fewer homes are selling as compared to last year at this time AND only 41% of all the homes coming on the market since the beginning of the year have sold. The good news is that we (Kristan Cole Team) are selling more homes this year than we did last year, so at you have the best chance of selling if you are listed with us.

Year to date comparisons from last year same time:
Residential down 27%
Land down 53%
Commercial down 12%
Multi Family down 49%

What percentage of properties that were listed this year has sold?
Residential 41%
Land 20%
Commercial 14%
Multi family 25%

Home many properties are on the market now?
Residential 903 (about 50 more than last month)
Land 922
Multi family 89
Commercial 81

Average number of days on the market for homes that have sold: 95 days

The most important advertising we are involved with is on the internet. We know 78% (National Association of Realtors statistic) of all buyers start their search and ultimately find their home by using the internet. Our web site is attracting great buyers for our homes and our sellers. Here are some statistics about how powerful our web site is. FACT: 60% of all of our buyers that purchased a home in the month of May came to us from the internet.

Kristan Cole Team WEB SITE TRACKING:

KristanCole.com
Average views: per day 1051 and 26, 593 per month

Kristan’s Visual Tours
Average number of times our active tours have been viewed per property 86
Average number of views per week of different properties 338

Kristan’s Realtor.com site
Average views per day 525 and 15,750 per month