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Jennifer Hanna

Christmas in July...the year is half over?

By: Jennifer Hanna
Wednesday, July 18, 2007 7:19 AM

 

While sitting here watching a very well known (***) tv homeshow as they celebrate Christmas in July, I am reminded that the year is half gone.

With the Summer at its 1/2 way point, I am hoping to hear the phones ring a bit more than they have the past few months.

Covering the area of the Poconos and the Catskills, I have hated to see so many clients "LOOSE OUT" on their perfect home because they just kept waiting for prices to drop further.  Well, that did not happen and their dream home SOLD to someone else.  Oh well!

Prices have come down on most properties significantly, but not all.  I thought it was just me, but after reading some other blogs, I see I am not alone.  How do you stop the "WAIT"? 

I specialize in a second home market and would love to hear from others who specialize in the same type of market.  How do you market to second home buyers in your area?

Well all, have a great day.  For me it is a dreary rainy day. Great for doing just this.

Peace to all ....and Merry Christmas! 

 Jennifer Hanna

 

 

 

 

 

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Comments

Candice A Donofrio
Member Since '07

Candice A Donofrio said:

LOL, Jennifer . . . we were watching TV last night and, while 'going around the dial' stumbled upon some shopping channel showcasing Christmas trees. My husband and I looked at each other and I think we both said at the same time, "(groan), CHANGE THE CHANNEL" (I think my words were a little more colorful, LOL)

My area (Northwestern Arizona), too, is a resort home community with a strong second home market.

I use a title company web interface like NiteOwl http://www.landam.com

for farming and research. We market heavily to the absentee owners because when it gets over 120 up here, people start wondering what the heck they were thinking, LOL . . . and lots of properties change hands.

Also, what are the 'draws' to your area? Why do people like to visit? In our area, it's gambling and watersports. So advertising in specialty publications like boating magazines, airline mags etc. could be effective.

July 18, 2007 7:40 AM
Mary Welch
Member Since '04

Mary Welch said:

When I was in retail I would have Christmas items coming in already. I would put a few seasonal items out and discount the other items and have a Christmas In July sale. Wish I could figure out how to do that with real estate.

Can't help with the second market but can wish everyone here a Merry Christmas. Ok, it is still hot, what's up with that? Think snow.

July 18, 2007 7:48 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Snow . . . I've heard of snow . . . hmmm . . .

July 18, 2007 8:10 AM
Phil Rotondo
Member Since '04

Phil Rotondo said:

Jennifer....I guess you didn't hear or see. The year 2007 is over.  The last day is Thursday, July 18th, 2007.  The remaining part of the year has been cancelled due to lack of interest and the on-going "buyers" strike.  Word on the street is that 2008 may also be a very short year.  

July 18, 2007 8:19 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

LOL Phil! Happy New Year to all . . .

July 18, 2007 8:28 AM
Kathy  McGraw
Member Since '07

Kathy McGraw said:

Candice,

Where are you located in Arizona?  

Sounds exqactly like our Market.....the 2nd homes one.  I have tried advertising in different places, and we do get calls, leads, etc, and sales.  Problem is the prices....too many people want close to a million dollars for a home on the River, and I just haven't found the right buyers.........we show constantly, but as I am saying this month "Listings costs, Sales pay."

July 18, 2007 8:31 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Hi Kathy, from your neighbor! I'm right up river from you in Bullhead. And have been to your area many, many times!

I remember when there was NOTHING there but a few campsites (remember Ah-villa and Big Bend, they still there?) Now, the most gorgeous homes.

One thing that started happening in our area a few years back, we started seeing "Buyers must show preapproval/source of funds to view" on the riverfront listings agent remarks.

So many lookies wanting to see riverfront homes for entertainment between gambling and boating excursions!

Listings cost, sales pay is right!

July 18, 2007 8:40 AM
Kathy  McGraw
Member Since '07

Kathy McGraw said:

Candice,

No, I don't remember those areas as we only opened that office the end of last year, and before that I had Never been to that part of the River. Yes, we have a couple listings where we want to see approval first, so we don't waste everyones time with Boaters in dripping bathing suits coming in out of the heat to get a "lookie."

Jennifer,

When we market, we use the local throwaway paper, the Chamber, websites, and a zillion different Internet options.  I started looking at where the buyers were coming from-and try to concentrate some of our Marketing there.

If you have RVers, they have websites, and magazines. Actually as Candice stated, most groups have a specialty magazine or newspaper.  Also, one thing that is FREE is Yahoo classifieds....make sure you input your information in there in case someone is doing a search of the area, you want your name to appear.

Also, lenders, I had to learn about the vacation, 2nd home market, and how they get financing and tax implications.  You can incorporate this into your marketing as well........

July 18, 2007 9:10 AM
Gene Carey
Member Since '03

Gene Carey said:

Jennifer - I drove thru your area about 15 years ago when they were blasting the additional highway tunnel thru the Pocono mountains. Traffic was backed up for miles while they set off the blasts (didn't want any injuries in the existing tunnel). Beautiful country!

Phil is right, year 2007 is over as far as any chance of a housing recovery according to the market advisers.

Candice - I will put you on my list to send some snow to this winter although with Gore's global warming, it has been fairly mild the past two years.

Kathy - I had a very expensive waterfront home listed last year with a long area for boaters to tie up and at first we were getting a lot of people in swimsuits and flip-flops coming to view the house. Finally, the seller said 'enough' and told me if anyone was interested in seeing/buying the house they could come via the street with an agent and not from passing boats. We installed a sign on the pier stating that in order to view the home, they needed to make an appointment with me or their agent.

July 18, 2007 9:26 AM
Kathy  McGraw
Member Since '07

Kathy McGraw said:

Gene,

What a novel idea...seeing the house with the Agent, via a door :)  Yep, that probably cut down on the traffic, and hopefully you got it sold too.

Now, where do you work?  Looks like 3 of us are in the same basic area.......

July 18, 2007 9:36 AM
Gene Carey
Member Since '03

Gene Carey said:

Kathy - I'm a long, long way from sunny California! I'm in a northern suburb of Chicago along with Michaela and Randy. If you ever want to see where someone is located, you can click on their name and view their profile as well as their website and email. Just be sure to use the Back button rather than clicking the big X or you will get booted out of RELib.

And, Yes, the house did sell to someone who didn't even own a boat but just enjoyed living on the lake.

July 18, 2007 9:44 AM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

WOW, Gene, I'm sure it has happened, but I can't fathom boaters tying up and trying to access from the water in our area.

Waterfront homes are jealously guarded by their listing agents. It's like the inquisition sometimes getting an appointment. That works for me. When I go to the river, I want to be there with some good drinks off the clock. I don't need to be a tour guide for a non - RWA.

Kathy . . . I could tell you some stories about Big River area! We started going there to camp and party before I graduated high school in the mid 70s. A good time was always had by one and all . . . that's the sanitized version, LOL

July 18, 2007 11:05 AM
Jana Davis & Virginia Houghton
Member Since '05

Jana Davis & Virginia Houghton said:

A few years ago there was a castle for sale in an exclusive area.  It took almost 2 hours just to view.  Appointment Owner only and had to be Approved with proof of funds just to view.  Secret passage ways to be revealed to buyer on close only.  Very interesting home!  Used lots in the movie industry.  

At our office meeting one of the owners of our company had the pleasure of meeting an owner of one of the big lenders over the weekend.  They spent a great deal of time discussing the turn of the times - one of the things he asked was what did this lender think of our local market.  He felt that prices would still dip while the REO's are on the market but feels strongly there will be a turn around by '09.  So budget your money and hang in there!  Our buyers need to buy between now and then to get the good deals!  He also thinks the interest rates will go up a bit, so I think they need to move now!

Jana

July 18, 2007 1:40 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

INTERESTING. I bet another castle will be on the market in your (general) area pretty soon, Jana . . .

http://www.cityofalhambra.org/community/castle.html

July 18, 2007 2:01 PM
Jana Davis & Virginia Houghton
Member Since '05

Jana Davis & Virginia Houghton said:

Speaking for Christmas you might want to start your shopping now.  Get the kids lists.  On the news they have been talking about a possible dock strike for the port of Los Angeles.  This would be the time to put some pressure on as this is when the Christmas stock starts coming in.  What is this years hottest toy, buy it now!  And maybe a few extras to sell on eBay :)

Jana

July 18, 2007 7:20 PM
Jana Davis & Virginia Houghton
Member Since '05

Jana Davis & Virginia Houghton said:

LOL Candice.  I bet it takes longer to tour than 2 hours too.  I am not surpirsed if we hear it is on the market shortly.  Especially to pay attorney fees.

Jana

July 18, 2007 7:24 PM
Candice A Donofrio
Member Since '07

Candice A Donofrio said:

Probably . . . that's what I was thinking . . . atty fees and stigmatized to the max! Either a murder or a suicide was committed in there. Perhaps some good stash spots for weaponry, too.

July 18, 2007 8:44 PM

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Jennifer Hanna
Paris Realty & Assoc.

Jennifer Hanna
Member Since '03

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