Archive for the 'Community Info 46143' Category
Indianapolis Based CP Morgan: Out Of Business
I don’t have any proof of this, but I am quite certain that my jaw literally dropped when I heard the headline above come across the 11:00pm news last night. I absolutely can’t believe it!
Yes, I’ve been surprised at times to hear of some other builders going under. I know Davis Homes really caught me off guard when that happened a year or so ago. But CP Morgan? Seriously???
These were the big boys. These were the ones that were always sponsoring realtor lunches, trips to Colts games, gift cards, all that fun stuff. What happened?
I’m sure this is the same question that a lot of others are thinking as well…current homeowners, realtors, contractors, suppliers, those that have already put money down towards the building of their new home. So many people have been effected.
But the people I’m feeling for the most this morning are their sales reps. Primarily because these people have been the face of CP Morgan for me for the last 9 years. And I have to say, these have been some of the most loyal, professional and hard working people I’ve ever worked with.
No matter what anyone else thought, these people were enthusiastic, energetic, and sincerely believed that they could offer the best home for the money any where around. I do believe that they sincerely believed in their product. These are hard working, ethical people and my heart goes out to them this morning.
Click Here to read the official CP Morgan Press Release 02-26-09
Discussion: No Comments »
Can You Touch Bottom?
Remember what it was like when you were a kid and you’d jump into the deep end and challenge your friends to see who could touch the bottom of the pool?
When you were little, you’d have to kick and push a little to get there. Your ears would pop and you’d get a little scared…wondering if you’d be able to hold your breath long enough to get all the way to the bottom and then back up again.
It’s kind of the same with our current real estate market. People keep challenging themselves to see who can hold out long enough to time the market just right…holding off on buying something until the prices drop all the way to the bottom.
Well stop trying to guess when the market is going to “hit bottom”. No one can predict the exact time it’s going to happen…so stop trying! But by golly, stop sitting on your keester waiting for “the perfect time” to buy.
While you’re waiting for the market to get all the way to the bottom, your friends and neighbors are out there taking advantage of the bargains that are all around them right now…whether we’re at “the bottom” or not…who cares???
When the market finally does turn around, it will be just like finally reaching the bottom of the pool and then pushing off and soaring back up to the top of the surface…popping your head out of the water and coming up for that great big refreshing breath of air.
The market’s going to come back up a lot faster than it went down. But we won’t know we’ve hit the bottom until we’re already on our way back up. How will you know that today will be the last day of low prices and that tomorrow they will be higher? You won’t! You can’t!
So stop waiting to “hit the bottom”. You’re gonna make it and you’re not gonna drown! But you need to jump in…’cuz the water is more than fine!
Discussion: 1 Comment »
A Chance To Give Back This Christmas
I realize the economy is bad for just about everyone right now, but you still may be looking for a way to reach out and do something for someone else that may be just a little worse off than we are.
If you’re looking for such a cause, or maybe just for a place to put the kids out grown clothes to good use, please take a closer look at the message below. This is from our good friend, Allie and I know that anything you can contribute would be greatly appreciated.
Click to enlarge
Need to know where to bring your clothes for Alyssa? Please leave us a comment and we’ll make sure your clothes get to Alyssa as soon as possible. Thanks in advance for your help!
Discussion: 1 Comment »
It’s The Price, Stupid!
OK, so maybe that wasn’t the name of the training I attended today, but it might as well have been because I think that’s pretty much the main point that all of us got when it was over. Our training was taught by Linda McKissack, whose team usually sells around 300 homes a year, so I think she certainly knows what she’s talking about.
One of the first things she said today that really got my attention was “Our price is good, but we’re just not getting any showings.” Ha! This caught my attention because I know I’ve said this myself. Her point was that in this market, if we’re not getting showings, our price is wrong. Period.
In a seller’s market, it means the supply cannot keep up with the demand. Put whatever price you want on your home because after all, in a seller’s market, it’s not as much about price as it is “Location. Location. Location.”
Well guess what? In case you’ve been hiding under a rock, we’re in a buyer’s market right now…NOT a seller’s market! And a buyer’s market is exactly the opposite of a seller’s market. It means we have an over supply for the amount of demand. We have more sellers than we do buyers!
When this happens, your house has become a commodity. And like any other commodity, it’s all about the price. Here’s a great analogy . . . “If you bought stock last year and that stock was worth $49 per share and today you need to sell that same stock and it is now worth $25 per share, what could we sell it at? Twenty-five is right.”
How do you know if your home is over priced for the market? Well here’s what the National Association of Realtors has to say:
- If you’ve had 10 or more showings with no offers, you’re at least 5% over priced
- If you’ve been on the market 2-3 weeks and you’ve had no showings, you’re at least 10% over priced
If you’re a homeowner thinking of selling, this may not be the news you were hoping for, but I believe Dianna Kokoszka said it best when she said, “If I don’t tell my sellers the truth, it’s like I’m taking money from their bank accounts.”
We didn’t create this market, but as Realtors, our job is to properly communicate the numbers as best as possible so our sellers can make the decisions that are best for them.
Discussion: 2 Comments »
Follow Up On Center Grove vs. Greenwood IN Home Prices…
Well, it was brought to my attention by my good friend Jake Stiles, well…. I mean, my acquaintance, Jake Stiles…um, better yet, it was brought to my attention by some guy who managed to get his real estate license (hee! hee!) that surely there were some higher end home prices that were scewing our numbers previously posted. And in fact, he is correct.
Posted below is a closer look at homes specifically priced at or above $500,000 in Center Grove and Greenwood School Systems.
What we see is that there are currently 52 homes Active on the market in Center Grove, priced at or above $500,000 with the highest Active list price at $2,850,000 (the average Active list price is $835,815). There are also 2 homes Pending in Center Grove Schools listed at or above $500,000 with an average list price of $697,400.
However, in Greenwood Schools, there are no homes currently Active that are listed at or above $500,000 and none that are Pending either. Neither school system had a closed sale in this price range during the month of November either.
Hope this helps better explain the numbers. If you have any questions or comments you’d like to share, by all means, please let us know!
Click on graph to enlarge
Discussion: 3 Comments »
Who Wants To Be Average…???
OK, so maybe it’s not what we aspire to, but it certainly can be interesting to see how we compare. And in the world of real estate in Greenwood, Indiana the numbers that we found for this past month were definitely an eye opener.
In fact, I double checked all of the numbers more than once just to make sure I hadn’t messed something up! Unfortunately, the numbers are correct. Check out what we discovered…
Click on graph to enlarge
What I find really interesting is that Center Grove has twice as many homes currently Active on the market as Greenwood, more than twice as many Pending and yet, during the month of November, only had 25% more closings than Greenwood.
Another big difference we see is with regard to the actual home prices. Right now, the average home in Center Grove is listed for $330,629 while the average home in Greenwood is currently listed for $141,892. These same trends follow down through the Pending price differences, as well as the actual Sold prices.
With over 600 homes currently available in Center Grove and Greenwood combined, it’s time to go shopping! Give me a call and let’s go look at some houses this weekend! 317.893.1636 Hope to hear from you soon!
Discussion: 4 Comments »
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