2009 17 Sold $426,853 Average Sold Price 146.88 SP/SQ 122 Days on Market 92.59% SP/LP
2010 16 Sold $538,094 Average Sold Price 204.32 SP/SQ 106 Days on Market 95.79% SP/LP
2011 21 Sold $460,129 Average Sold Price 156.56 SP/SQ 64 Days on Market 92.78%SP/LP
2012 18 Sold $383,206 Average Sold Price 156.95 SP/SQ 122 Days on Market 91.11% SP/LP

As of February 5, 2012 there are 113 active single family homes on the market. The absorption rate over the last years shows a slowing of the market. Last June, 2011 the absorption rate for this area was 4.33 months, in September it was 4.6 months and for January, 2012 it is 6.80 months. In June there was a strong seller’s market and the trending is moving to a buyers market. Over 6 months of inventory indicates a buyers market and right now the market is even at 6.8.

The average single family home in this area has 3 bedrooms, 2 bath, 2408 square feet. The average listing price in January, 2012 was $394,699.

The thinking being that we are hired to get your home sold and the more eyes on the property the better.  We want to capture as many buyers as we can.  I believe syndication is a good thing and that it helps a listing agent meet their professional and ethical obligations to sellers.  Not all Brokers believe that to be true.

The Broker in the video is making a statement that he will no longer send his Brokerages listings to Realtor.com, Trulia and Zillow presumably because agents from other brokerages can “buy’ placement and be the contact person for his listings.  He claims that since any licensee can buy a Premier spot the public is not being well served and that the only way to get correct information about a home is from the listing agent.  He claims that the information on these sites is inaccurate and that sold properties remain on the site for many months after a sale date and that it is annoying to both the public and agent.

I don’t believe the public cares about the inner workings of real estate brokerages.  A seller hires a real estate agent to get his house sold for the best price and terms period.  A seller does not care if it is the listing agent who sells the house, nor should a seller care.  A buyer should never be calling the listing agent because a buyer should be represented in a transaction.  I do believe that a lot of this issue has to do with “double dipping” meaning getting both sides of a commission – the listing side and the selling.  I also believe that we are hired to list, market and sell a property period.  We are not hired to edit and constrain on the internet where and how a buyer finds a property.

 Analysis of The Issue from The Phoenix Real Estate Guy, Jay Thompson – don’t miss the comments

Consumer’s Don’t Give a Rats Ass About It

Commentary from Daniel Rascoff, Zillow CEO on this Issue

The Debate About Syndicating Real Estate Listings from Kris Berg

1.  Map out your day..I agree that this is a good idea so that you are not wasting time.  Checking the locations and the times means that you will be able to see more property’s in the times allotted.  However this article then suggests a “divide and conquer” approach where the Open Houses are divided between partners and then each property is discussed at the end of the day.  Buying a home is not a marathon and there is no race.  Would it not be better to make an appointment with a buyer’s agent and go to each house taking whatever time  you need to view it?

2.  Take notes and photos…the author states that most people now have a camera on their phone and can take pictures to supplement what is on the MLS.  Maybe I am old school however since when is it okay to go into someone’s home and take pictures of their stuff?  Someone that the owner doesn’t know, coming in from the street, taking pictures?  Whoa I don’t think so….

3.  Talk to the agent….again a lot has been left out.  ”The agent is really there to assist the buyer” an agent is quoted as saying leaving out that the agent works for and represents the seller.  Small chat about your circumstances can be used against you in a negotiation.  Chatting with the agent is probably not a great idea as according to Agency laws that agent can’t tell you certain things nor can they answer all of your questions.  They are representing the seller and not representing you….careful what you say.

4.  Ask for a disclosure statement…He means a Property Condition Form.  Asking for a Property Condition form at an Open House is a bit out of context.  Seeing the house, liking the house, reviewing the comparables and then discussing all of that coupled with a disclosure statement AND a Property Condition Form with your buyer’s agent, asking the pertinent questions of someone who is looking out for your best interests is a better tactic.  A disclosure statement needs to be reviewed and not by the agent representing the seller.

5.  Walking through the space – I agree with #5.  It is important for buyers to walk through a house and feel the space, see the layout and get a feeling for the property…

6.  Imagine the Space with Your Things….gee, I don’t how any buyer can really do that at an Open House between all of the other people walking around and the agent answering questions and having to take pictures.  However if you go to preview the house with your buyer’s agent you can take your time and spend some time by yourselves discussing this.

7.  Bring a tape measure….record the size of the rooms.  This one is a bit dumb.  If you start to measure a house at an open house you tip your hand that you like the house and not only will the listing agent take note but so will all the other buyers walking through…

8.  Be Open to Something DIfferent….again a good idea.

9.  Walk around the Outside….again a good idea but only if you have any interest in the house otherwise who cares!

10.  Get a Floor Plan….again this is a good idea but not necessary at the Open House.  Your buyers agent can get the floor plan for you if you have any interest in the property AND they can discuss it freely with you because they represent your interests.

11. Drive Around the Neighborhood….this is also a good idea but I would add google the address and check out what pops up, crime maps and sexual predator sites as well.  Go past page one on Google and dig around.  You will be amazed at what you might find because it is not just you might discover on your drive.

12.  Schedule an Appointment to go Back…he suggests the Open House is the perfect time to schedule a reshowing.  He means schedule it with the agent that represents the seller and give up being represented in the transaction?  Again, not a great idea.  Buying a house is not like buying a pair of shoes.  When you buy a pair of shoes you don’t need to be represented, you try them on and if they fit you either buy them or not.  A house is a big expensive life altering purchase and requires representation.

A Night To Make It Right will attract political leaders, philanthropists, artists and entertainers, including Mayor Mitch Landrieu and host committee members Blake Lively, Chris Paul, Sean Penn and many others.

Please visit the  official website for further information, A Night To Make It Right.

“From Dec. 26 through Monday, the Superdome and the neighboring New Orleans Arena have hosted, or will host, nine sporting events. This includes two college football bowl games, including Monday night’s championship; three Saints games, including Saturday’s playoff contest against Detroit; and four N.B.A. matchups featuring the hometown Hornets.

This confluence of events, an athletic Mardi Gras of sorts, played out all over town. Crimson Tide fans waited for beignets at Café du Monde, while nearby a musician played jazz in a Saints sweatshirt. Lions supporters downed bottles of Abita at Bullet’s Sports Bar. Hotels turned on “no vacancy” signs and a parking garage downtown charged $100 a night.

“We’re going to see our city filled to the brim, to a magnitude beyond what we’ve ever seen, even with Super Bowls,” said Doug Thornton, senior vice president for the stadium and arena division at the arena management company SMG and the de facto director of Louisiana sports.”

Read more – New Orleans is the Center of the Sports World

As of today there are 142 active single family properties on the market. Of these properties:

• Average 4 br’s, 2 baths with 2675 square feet.
• Average listing price is $552,191 and to date 128 days on market.
• Median 3 br’s, 2 baths with 2277 square feet.
• Median listing price was $404,500 with 86 days on market to date.

For the month of December, 2011 26 single family homes sold. Of these:

• High 5br’s, 4 baths with 3699 square feet. Listing and selling price was $770,000 days on market were 323.
• Low 2 br’s, 1 bath with 980 square feet. Listing price was $19,900. and selling price was $18,000. Sold in 0 days.
• Average 3 br’s, 2 baths with 2337 square feet. Average listing price was $423,656 and average selling price was $414,992. The listing price / selling price was 97.43% and on average 76 days on the market.
• Median 3 br’s, 2 baths with 2475 square feet. The median listing price was $432,000 and the median selling price was $424,500. The listing price / selling price was 98.4% and 28 days on the market.