Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
Lyle Lovett loves “Bears” (and, I guess we’d better learn to embrace this “bear market”)
Altos Research indicates that we are dealing with a “bear real estate market” since the end of the home-buyer tax credits. Of course, all they would have had to do is ask existing home-sellers or real estate agents to confirm this information! Buyers are out there but are waiting for “bargains only” and sellers must acknowledge this reality. Raw inventory in Altos’ 20-city composite, which includes the same 20 cities in the Case-Shiller Home Price Index, was rising past 575,000 units at the end of July — a figure not seen since January 2009 (when inventory was at a high of 19.2 months of homes, we are now at 7.3 months of inventory). At the same time, median home prices peaked under $380,000 and were down to about $369,000 at the end of last month. At the end of July, 38 percent of homes in the 20-city composite had seen their prices reduced, indicating what Scott Sambucci, Altos Vice-President of Data Analytics, called a “moderately weak” market. Sambucci called the interaction between prices and inventory the “supply effect.” “More supply means lower prices. With the initial stimulus, sellers started to see higher demand, and less of a need to drop prices, but (now there is a higher share of price reductions) in consequence of higher inventory counts,” he said. This is going to be a long, steep, up-hill climb, I say! We have a “new normal“. However, this is more normal than the frenzy of 2005-07. The market “is what it is”….”love it or leave it”!!!
The top 10 metro areas with the highest share of price-reduced listings (percentage of discounted listings; median discount among 26 study markets):
1. Jacksonville: 54 percent share of price-reduced listings; $19,000 median discount
2. Phoenix: 52.7 percent; $16,000
3. Minneapolis-St. Paul: 51.1 percent; $17,000
4. Orlando: 50.7 percent; $20,100
5. Austin: 50.3 percent; $13,000
6. Chicago: 50.2 percent; $20,000
7. Tucson: 49.1 percent; $16,760
8. Salt Lake City: 48.8 percent; $15,000
9. Baltimore: 48.7 percent; $18,000
10. Seattle: 47.6 percent; $23,900
The top 10 metro areas with the lowest share of price-reduced listings
1. Denver: 32.5 percent; $13,100
2. Los Angeles: 39.4 percent; $28,764
3. San Francisco: 40.9 percent; $38,000
4. Miami-Ft. Lauderdale-Palm Beach: 41.2 percent; $27,100
5. Richmond, Va.: 43 percent; $12,050
6. San Diego: 43.4 percent; $31,000
7. Las Vegas: 44 percent; $15,000
8. Norfolk-Virginia Beach: 44 percent; $15,000
9. Houston: 44.3 percent; $10,000
10. Charlotte: 44.4 percent; $13,000
(Source: ZipRealty)
About the Author | Janeese Jackson
- More posts by Janeese Jackson