Friday, April 10, 2015
With the 1st Quarter now behind us, it appears that our Real Estate Recovery continues. For our company, it’s important to note that while new sales were basically stable (780 for the quarter vs 754 from the same period last year), our foreclosure volume and investor sales (67 last year, same period) were not duplicated, which in my view, means sales are up. Sales volume was up 13%, which indicates a strong increase in the average sales price year over year. At the same time, closed business was up 32%. We’re busy – and we expect this to continue as we enter the Spring Selling Season.
One of the reasons I’m so positive is that we have an extremely motivated group of sales people who clearly know what to do, are very likeable and truly care about our customers. We started setting quarterly goals as a group two quarters ago, and since that practice began both sales and morale are up. We’re clearly focused! Our success comes from helping Buyers and Sellers reach their goals. So, if we want more business, all we have to do is help more people.
To this end, we recognize that our role in the transaction has changed. With the Internet, our value in providing access to inventory has been diminished, yet our value in managing the transaction process has increased. The coordination of the transaction with all integrated parties (Mortgage, Title, Insurance, Inspections, Repairs, and Appraisals) is where we’re focused and where we excel in providing value. Managing the process and communicating responsibilities to all parties is what makes the difference between a smooth closing and a potentially failed transaction.
Homeownership is a huge benefit, and this benefit comes with a huge responsibility. Purchasing a home in today’s market benefits the consumer in many ways: by locking in generationally low interest rates, putting buyers in a position to take advantage of Florida’s Homestead Exemption, and enjoy appreciation over the long term, which is all but inevitable and will lead to tax free gains that almost no other investment provides. The responsibility comes in understanding the condition of the home you’re buying and responsibly maintaining the investment. We’re here to help guide you. Our Motto is BE3 – this stands for Beggins Enterprises – Empower . Educate . Encourage.
April 1st marked the implementation of congressionally mandated reforms required by theHomeowner Flood Affordability Act of 2014 which repeals and modifies the Biggert-Waters Flood Insurance Reform Act of 2012. We can expect controlled rate increases for subsidized properties located within Special Flood Hazard Areas as well as an increase in the Reserve Fund Assessment, implementation of an Annual Surcharge, an additional deductible option, an increase in the Federal Policy Fee and rate increases for most policies. Be sure to check with your Insurance Agent to see how these changes affect the home you currently own or the one you’re thinking of buying, or give us a call and we’ll refer to an agency we work closely with.
Please, give us a call if you or someone you know is thinking about taking advantage of this rising real estate market.
There’s an old saying … You can have everything you want in life when you help enough other people get what they want. We’d be honored to help you with your Real Estate needs this year and well into the future. We’re skilled at helping you make informed decisions. To learn more about what CENTURY 21 Beggins Enterprises offers Buyers, Sellers and Agents, watch our new videos at www.c21be3.com.
Until next time, may you have fair weather and following seas!
Craig J. Beggins, President
CENTURY 21 Beggins Enterprises