June 2016 Monthly Market Update

Hey, this is Colley Bailey with Fathom Realty.  Thanks for joining me for another Monthly Market Update, this time looking back at the month of May 2016.

Well, I’ve been saying over the last few Monthly Market Updates that we’re moving into a Seller’s Market for the Summer, and we are in it.  Look at this Month’s Supply: 4.86!  Dipping below 5 months, getting closer to 4.  Four Months of Supply is a Classic Seller’s Market.  Keep in mind this data covers all of Washington and Benton Counties, so there are pockets in Bentonville, Rogers, Fayetteville where we’ve got a lot less supply than that and homes are just flying off the market.

Median Days on Market is holding around 60.  And we’ve seen a Month-to-Month and Year-Over-Year drop in Average Days on Market.  And honestly, in certain neighborhoods, things are selling within days if not hours.

Notice that the Average Sale Price is holding close to April’s Historic high price.  That’s good news for Sellers.  If you’ve got a home to sell, get in the market now.

And for the Buyers out there, we’ve seen an increase of 13% in properties coming on the market since this time last year.  So you’ve got some more options, even though we do still have limited supply.

And if you’d like specific numbers for your city or neighborhood, I’d be happy to run a Comparative Market Analysis for you to show you how the trends of this market affect your property and your equity.

Also, if you are selling your house, pick up a copy of my Listing Secrets DVD.  This contains all my Pricing, Presentation, and Promotion Strategies to get your home sold quickly, and for Top Dollar in most cases.  So just let me know you’d like one, and I’ll get one to you straight away.

Don’t hesitate to call me at 479-856-9422 or email me at colleybailey@gmail.com.

Thank you for watching, liking, sharing, and subscribing to these videos.

To make sure you stay up to date on all things Northwest Arkansas Real Estate, sign up for the newsletter in the sidebar.

Once again, this has been Colley Bailey with Fathom Realty providing “Your Premium Real Estate Experience.” Thanks.

May 2016 – Monthly Market Update

Hey, This is Colley Bailey with Fathom Realty bringing you another Monthly Market Update, this time looking back at the month of April 2016.

Month-to-Month across Northwest Arkansas we’re seeing about 10% fewer properties expiring off the market without selling, so that’s positive news.  Also, look at this huge jump up in Average Sale Price: almost $218,000, that’s a 12% jump Month-to-Month and 13% Year-over-Year.  In fact we hit an all-time high this month, beating the previous high from all the way back in 2008.  Now, that’s over $20,000 from last month, so I would say it could be an anomaly, but we’ve crossed that $200k threshold 4 times in the last year, and that only happened twice in the year before that.

Our Year-over-Year numbers are also looking pretty impressive with 10% more properties Sold, even though there were 10% fewer on the market.  That’s probably one of the reasons for the rise in Average Price.  Also, notice the drop in Average Days on Market (-10.53%) as well as Median Days on Market (-14.86%).  Along with that drop in Months of Supply, it looks like we are going into a classic Seller’s market for the Summer.

Good Properties are continuing to go very quickly.  A lot of multiple offer situations out there.

So, if you’re looking to sell your house, go ahead and get it in the market while we’re at these historical highs.  There’s no telling how long this will last, but I expect it will continue through this summer at least.

The broader US economy is starting to show signs of weakness.  Stocks had a terrible start to the year, and even though they went back up briefly, they seem to be on the decline again.  The Dollar is also weakening this year against other currencies.  So the interplay between the broad economy and our local Real Estate Market will be interesting to see as this year plays out, but right now is a perfect time to get your home on the market and get it sold.  And they are going very fast.

And if you’re buying a home, realize that these properties are going quick, so don’t hesitate to put down a strong offer when you find the right house.  Notice that homes are selling very close to List Price, 98.6%, so don’t be afraid to write a strong offer to stay competitive.  I’ve even been seeing some homes selling over list price, so keep that in mind if you’re in a multiple offer situation.

And if you’d like specific numbers for your city or neighborhood, I’d be happy to run a Comparative Market Analysis for you to show you how the trends of this market affect your property and your equity.

Also, if you are selling your house, pick up a copy of my Listing Secrets DVD.  This contains all my Pricing, Presentation, and Promotion Strategies to get your home sold quickly, and for Top Dollar in most cases.  So just let me know you’d like one, and I’ll get one to you straight away.

Don’t hesitate to call me at 479-856-9422 or email me at colleybailey@gmail.com.

Thank you for watching, liking, sharing, and subscribing to these videos.

Once again, this has been Colley Bailey with Fathom Realty providing “Your Premium Real Estate Experience.” Thanks.

Crashing! – Monday Motivation, April 25, 2016

“If you ain’t crashing, you’re not trying hard enough.” – Greg Albertyn

When I was 13 and 14 years old, I was obsessed with Motocross racing.  Every day after school, I couldn’t wait to jump on my dirt bike and rip around our family farm, racing through the woods, jumping out of ditches.  I had a blast.  It was all I thought about for a few years.  I even wore Motocross jerseys to school sometimes.

During that time, there was a world champion rider named Greg Alebrtyn from South Africa.  He had come to the US to race the Motocross series as well as the Supercross series, which is a different type of racing than traditional outdoor Motocross.  Supercross tracks are built in stadium arenas with more jumps, tighter corners, and more technical rhythm sections (smaller, tighter jumps closer together so you have to figure out the correct “rhythm”).  Well Greg, who dominated on longer outdoor tracks with ruts and mud and hills couldn’t quite get the hang of the Supercross tracks, but he had a huge desire to be competitive.

This lead to several seasons where he crashed frequently on the Supercross tracks, and the injuries held him back from being competitive on the Motocross tracks.  When asked about it, he once said “If you ain’t crashing, you’re not trying hard enough.”  I’ve always remembered that.

Eventually, he got the hang of it.  His technique improved, and he started winning and placing on the podium (top three) in Supercross.  Finally, in 1999, he won the outdoor Motocross title for the year, consistently beating some of the best riders in the world.

Recently, I’ve had to reorganize my own business a little bit, letting go of sales systems I spent months creating, and deciding to embark on a different path.  New information came to light.  I realized there was a different, better path.  It sucks.  It hurts.  I was wrong, and I had employed the wrong approach for a few months.  (This crash only affected my business, not my client’s results, BTW.) But in business and in life, if you’re not continually experimenting, and being willing to fail with full effort, you’re not trying hard enough.

So, go CRASH this week!  You’ll learn something great, and you’ll be better off in the future!

Monday Motivation: Vision – April 11, 2016

Vision

Visionaries see things the way they could be before they actually are that way, and work to create that reality.

Steve Jobs, Henry Ford, Dr. Martin Luther King: what makes these people “Visionary?”  They had a clear vision of the future they wanted to create, a reality they believed could exist even though it did not exist yet and had never existed in the past.  They worked toward a vision of what could be, a better way forward.  Whether you’re creating a product, starting a movement, or looking to create a better future for you and your family, you must believe in a reality that does not currently exist.

So, go out this week, and get a clear vision.  Then never let it go, until you make it real.  Believe it UNTIL you see it.

-Colley

April 2016 – Monthly Market Update – Northwest Arkansas Real Estate

Hey, This is Colley Bailey with Fathom Realty.  Thanks for checking out another Northwest Arkansas Real Estate Market Update.  This month I did switch how I gather the data.  Essentially, I removed New Construction, New Home Sales from the data, so we’re just looking at Residential Resale data.  I did that because this is a more accurate representation of what my clients, mostly homeowners who are looking to sell their home, need to see.

So, that being said, let’s look at the last month’s data across Washington and Benton Counties.  Average Sale Prices grew by 2.56% from February to March.  And they grew almost double that Year-Over-Year.  We’ve also seen an increase in properties coming on the market both Month-to-Month and Year-over-Year.

Now, one of the main reasons I changed the data set this month and will probably continue to do so moving forward is because new construction tends to have longer days on market since many new homes are listed before they are completed.  This distorts a bunch of other metrics for homeowners who are looking to see how long their home might be on the market, what the List Price to Sale price ratio might be, etc.

Notice we had an increase of 24.39% in homes sold in March over February. We’re seeing a decrease in average days on market and median days on market since this time last year.  And our Month’s Supply went from 6.44 in February to 5.34 in March, suggesting we may be headed for a classic Seller’s market going into the Summer.

Good Properties are continuing to go very quickly.  I’ve been hearing of homes with four or five offers on them.  It’s getting really competitive out there.

So, if you’re looking to sell your house, let’s get it on the market now.  If you list within the next month or so, you’ll have an early advantage over the groundswell of homes that will hit the market in June and July.

And if you’re buying a home, realize that these properties are going quick, so don’t hesitate to put down a strong offer when you find the right house.  Notice that homes are selling very close to List Price, 99%, so make sure the list price is close to the comps, but then don’t be afraid to write a strong offer, otherwise you may end up losing out to a better offer from someone else.

And if you’d like specific numbers for your city or neighborhood, I’d be happy to run a Comparative Market Analysis for you to show you how the trends of this market affect your property and your equity.

Don’t hesitate to call me at 479-856-9422 or email me at colleybailey@gmail.com.

Thank you for watching, liking, sharing, and subscribing to these videos.

To make sure you stay up to date on all things Northwest Arkansas Real Estate, go to www.BaileyPremiumProperties.com and sign up for the newsletter.

Once again, this has been Colley Bailey with Fathom Realty providing “Your Premium Real Estate Experience.” Thanks.

Monday Motivation 4-04-2016

something-nothing

I’ve got a “Bucket List.”  You know, things you want to do before you “kick the bucket?”  Well, this year, I’ve been working on a project I’ve had on my Bucket List for a while.  The challenge I set for myself was to spend one 24 hour period outdoors during each month on the year.  So, essentially, I’m spending twelve days out in the Ozark Mountain nature this year.  Don’t ask me exactly why I wanted to do this (especially during the winter months, brrrrrrr.)  I’m not exactly sure except that maybe I missed my chance to be a boy scout when I was a kid and I’m trying to make up for it now.

Anyway, this adventure has lead to a lot of personal growth.  In fact I tried to do it last year, and failed miserably.  I spent the first night in sub-freezing temperatures sleeping under a tarp 4 miles away from my car with a knee that got twisted so bad I couldn’t walk on it.  My “survival training” actually turned into a survival situation.  I was completely unprepared for it.  However, I learned a lot about myself.  I found out I didn’t know as much as I thought I did.  I wasn’t as much of an outdoorsman as I thought I was.  In truth, I was a newbie, a beginner that had gotten in over his head.

But nevertheless, I shivered all night long in a reflective emergency blanket, I survived, I found a stick to function as a crutch, and I hiked myself four miles back to my car with excruciating pain in my knee.  I learned that I was tougher than I ever knew I was.  I gained a trust in myself that I’d never had before.  And I learned not to underestimate Mother Nature.

It took a full year of preparation for me to try again, and this time I made sure to study, prepare, and buy the right gear.  It has gone a lot better.

I found a better place to go: a family friend has acreage and a great site for camping.  I spent many more hours in study from survival, backpacking, bushcrafting, and nature reliance experts.  I also bought better tools and spent time learning the best ways to use them.

This year so far, I’ve spent three nights outside, all of them close to freezing temperatures.  And thanks to having the right gear and knowledge, I’ve actually been pretty cozy most of the time.

bush-bed

My latest time, I got to work building a bed out of sticks.  See that knife?  That’s the only tool I used to cut down those saplings, and fashion them into a sturdy platform which got me off the ground and kept my body heat from being drawn away during the night.  I piled leaves on top of this framework, put my sleeping bag on top, and had a very comfortable night.

Throughout this Bucket List exercise, I’ve gained a ton of respect for our ancestors and what we’ve come through, I’ve come to appreciate modern life so much more, and I’ve learned a lot about myself.

bush-camp

So, in short, I’m learning that having the right knowledge, skills, and mindset are the keys to success.  Not just in nature reliance training, but in every life situation.  Your ability to make something from nothing changes everything!  And knowing you have what it takes to accomplish your goals, no matter how few resources you start out out with, allows you to attack life with confidence.

Well, I hope there’s some inspiration in this story for you.  Have a great week!