When explaining local market statistics to your clients, it’s important to cover how much of that market is bank owned. Clarus MarketMetrics® will help you show buyers and sellers what percentage of the market is considered distressed through its latest product enhancement.

The following Market Dynamics Reports now show Bank Owned Properties (if tracked by the MLS):

• Sold Properties
• Under Contract Properties
• New Properties Listed
• For Sale Properties
• Expired Properties

Bank Owned Sold Properties in Fontana, CA

The Bank Portion view shows the number of distressed properties that are in foreclosure; or in foreclosure and subject to short sale; or owned (REO) during the applicable time period.

Non-Bank Owned View Sold Properties in Fontana, CA

The Non-Bank Portion shows the number of non-distressed properties that were free of any bank mediation during the applicable time period.

Easily add the percentage by checking the box to the top right of the graph.

If you haven’t created an account for Clarus MarketMetrics, visit http://www.clarusresource.com/mm.

Two local REALTOR® Associations in California recognize the value of local market analytics generated from their MLS data when they renewed their member benefit agreements for multiple years.

The Victor Valley Association of REALTORS® will provide Clarus MarketMetrics® as a free MLS member benefit for an additional two years to its 2,300 members.

“Our members have enjoyed the advantage of having the most up-to-date local market statistics at their fingertips,” said VVAR President Glenn Zimmerman. “They use this information for accurate pricing for both clients and to the community about the realities of the Victor Valley real estate market.”

The Ventura County Coastal Association of REALTORS® is also extending its member benefit for an additional three years.

“The association is in a position to continue offering tools to our members that help distinguish them in the marketplace,” said VCCAR Association Executive Randy McCaslin. “Clarus MarketMetrics® remains a product that empowers REALTORS® to share exactly what is happening and where they think the market is going.”

WAV Group strongly believes that the best way to attract consumers is to provide them with valuable information to help position an agent as a local expert. They think advertising is dead and “edutizing” is replacing it. Check out their blog for a free copy of the Edutizing white paper.

See if your local Association or MLS is offering ClarusMarketMetrics® as a free member benefit.

Mike Muren, an agent at Mackintosh Inc. Realtors in Frederick, Maryland told the FederickNewsPost that he usually spends 2 hours with first-time home buyers in educating them to the process.

Carlyn Lowery, an Associate Broker with Keller Williams Annapolis, sites in her blog that first time-home buyers are the force behind the recent activity in Annapolis, Maryland. “…first time buyers looking to take advantage of an $8,000 tax credit, which was initially due to expire at the end of November.”

Real estate professionals must walk a fine line, educating their consumer with the best tools available (many of which are online) while also positioning themselves as the expert at the center of the transaction.

One of the best ways to do that is to utilize MLS data.

Clarus MarketMetrics® is an online program that generates market and price-point analysis charts and reports derived from MLS data.

Let’s take a look at the Annapolis residential market activity in November 2009 compared to one year ago.

Annapolis Residential Listing vs Sold Price

November 2009 median prices actually went up 9% compared to November 2008. While the median sold price declined 3%. The most interesting aspect is the continuing disconnect between median listing price and median sold price. Sellers and buyers were off by $216,000.

When we drill down to a targeted price range from $400-$450,000,

Annapolis Target Price Range $400-450,000

we can really see the difference in those properties that had price reductions, they took 123 days to close and got $173 per square foot. And then take a look at those without price reductions. The more competitively priced properties sold in 51 days and for 91.7% of the original asking price.

Use Clarus MarketMetrics® to set realistic expectations with first time home buyers. By taking a look at your local market and interested property attributes, it’s sure to cut down market confusion.

Clarus MarketMetrics® reports can be emailed, printed, and saved as a PDF or a JPG. It is available on an individual basis to members of MRIS MLS.

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What’s a person to do if they are living in Miami and they want to know what the real estate market is doing in Southern California? Or perhaps Tulsa, Oklahoma or even Tucson, Arizona? They visit the Cloud of MLS Public Web Sites www.mlscloud.com.

This central site takes public facing MLS (multiple listing service) sites from around the country, making up more than 605,000 agents, and allows consumers – whether they are new home owners, relocations or investors – to search for property. And because it is being done by the Associations of REALTORS® or their MLS, it leverages the power of the agent to market to the consumer.

Beyond the ability to search for real-time listings, consumers, media and other in-the-know types can take a look at the Local Area Market Reports. These monthly statistics chart the local market from a MLS wide perspective, down to the top 50 or so cities within that MLS. Powered by Clarus MarketMetrics®, in a single glance a person can see what has happened to the single-family and condo market month-over-month and year-over-year.

As we scroll through September’s data, it is interesting to note that most of the West Coast median home prices increased from August, while many East Coast real estate markets decreased. For example in Los Angeles, the median home price increased 6.4% to $439,000. And in Washington D.C./Baltimore the median decreased 5.8% to $290,000.

For those MLS that have yet to create a public-facing site, they can still have a market report added to MLS Cloud as long as they provide the data to Clarus MarketMetrics®. It is free to generate a report and certainly free to consumers and prospects who connect in the Cloud! Email clarus@car.org for more information.

The cash for clunkers program got a lot of publicity about its end date, however there is a great government program that many know a little bit about that is still available. Yes! We are talking about the $8,000 first time homebuyer tax credit.

This great program begun under the last days of the Bush administrations Stimulus plans as a repayable $7500  credit. However with a changing economy and market it grew into a $8,000 non-repayable credit. The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009. That’s right First Time Homebuyers – FREE MONEY, JUST FOR YOU!

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.,

Why bring this up now? Well, with the end of the year fast approaching – in a few weeks we will be well into the last quarter of the year  – and transactions taking many times longer to close than usual (sometimes due to financing delays) there is little time left for first time homebuyer’s to purchase a property and be eligible for the credit. (With the average short sale or bank owned transaction taking around three months to close the time really is now)

So – agents and brokers, what are you waiting for – get marketing! With such little time left, it is up to you to educate buyers about this program and make sure they understand the urgency!

FHA Financing will even allow this credit to be used as downpayment funds! The IRS has published a helpful flyer about the program available here.

Get out there educating buyers and prospective buyers!

By utilizing Clarus MarketMetrics® users can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or  posted online. Clarus MarketMetrics® allows users to target to a specific zip code for their report and in some cases a map code or even a school district.

Please contact us for more information on our Real Estate statistics products and visit our FAQ section for a little more on what we do.

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We have some exciting news released from the National Association of Realtors which states that the Pending Home Sales Index has risen for the fifth consecutive month – this is the first time in six years!

There has been a flurry of reports from the Real Estate world regarding this exciting news. With the National Association of Realtors running campaigns showing people that now really is the best time to get of the fence and buy a home. The actual figures are that the index rose nationally 3.6% to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7% above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was back in July 2003.

This also translates into brokers and MLS associations wanting to utilize market data to their advantage in showing this turn of events to consumers. Clarus Market Metrics offers just that. With in excess of 80% of consumers starting their home search online as opposed to consulting a local agent, the way consumers process data, they have become information junkies and it is up to agents, brokers and MLS associations to provide the most current and up to date local market data which can be used along with national data. All in order to,  as we recently wrote, answer to the question “How is the market doing?

Here is a video from NAR on the latest data:

The message “now is the time to buy” now can be backed with a host of options – including Clarus MarketMetrics data. Also, according to NAR with housing affordability falling as buyers snap up bargain properties the window of opportunity may well be closing.

It is up to agents and brokers to communicate the message – take the example of Darel Handley, a REALTOR® with Windermere Pacific Coast Properties in La Mesa, CA. who is utilizing his member benefit.

By utilizing Clarus MarketMetrics® user can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or  posted online. Clarus MarketMetrics® allows users to target to a specific zip code for their report and in some cases a map code or even a school district.

Please contact us for more information on our Real Estate statistics products and visit our FAQ section for a little more on what we do.

Subscribe to our blog using our RSS feed. (Click here!)

For buyers searching for that perfect dream home can be a long, tiring process which can leave nerves most certainly a little frayed! However with the right information from your agent – in the form of the most up to date market information – can make all the difference in a buyers purchasing decision.

The media often make sweeping generalizations of the Real Estate industry, however in order to dispel any myths the National Association of Realtors publishes statistics of its own, not about the market, but about its members and their experience and their contributions to America.

They call this their “Field Guide to Quick Real Estate Statistics” (last updates September 2008. The “cheat sheet” gives the bare bones facts about the industry. You can view the whole sheet here, however we have listed some of the more interesting points below:

• Real Estate and the Economy: In 2007 the housing sector contributed $2.1 trillion to the national economy (15% of overall activity)
• NAR Members to date: 1,257,686 as of Aug. 31, 2008
• Active home search (median):
  Number of Weeks Searched – 8
  Number of Homes seen – 9
• Method of Home Purchase, By Use of Internet: Agent/Broker – 81%
• For Sale By Owner (FSBO) Statistics – the typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales.
• Technology Products used by REALTORS®: The typical REALTOR® spent between $501 – $2,000 on technology for real estate purposes in 2007.
• Home Buyers and Sellers Information Sources Used in Home Search – Real estate agent & Internet – 84% – A huge reliance on agents, which means that it is more important than ever for agents to deliver what their clients want – information.

By utilizing Clarus MarketMetrics® user can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or  posted online. Clarus MarketMetrics® allows users to target to a specific zip code for their report and in some cases a map code or even a school district.

Please contact us for more information on our Real Estate statistics products and visit our FAQ section for a little more on what we do.

Subscribe to our blog using our RSS feed. (Click here!)

As budgets tighten and staff resources are stretched, many local Associations of REALTORS® and Multiple Listing Service are looking for new ways to reenergize their perceived value. And of course, the real estate industry needs them now more than ever!

One thing that is asked by members and community are the hard numbers that reflect the real estate market activity. Now every entity, regardless of whether they have a full-time research department, can have access to a monthly real estate market report.

The Houston Association of REALTORS®, the second largest REALTOR® association in the nation and a market previously written about in our post “Real Estate Statistics in the South”, is using the data from Clarus MarketMetrics® to inform media, REALTORS® and consumers as to the state of the real estate market at a network of public MLS sites on MLS Cloud.  This report is generated monthly using data directly from the MLS. And the best part about it is that minimal local Association/MLS staff involvement needs to be used in order to complete the ongoing reporting. Other early adopters of this market report include MLSListings® in the Greater Silicon Valley area and MRIS® of the Washington, DC and Baltimore market.

Free of charge to participating MLS, these reports are hosted online for easy distribution. If the MLS covers a large area, real estate market statistics can be broken down to show regional city activity too.

The monthly quick facts allow readers to get the gist of the market without having to examine the month-to-month or annual comparison chart below. In this fast paced, information driven environment that we see ourselves in today, I could take those quick facts and easily tweet about my local market. Or if my web site or Facebook page is the preferred publishing method, a simple link and headline is all the work I need to do.

How do we help our MLS to serve us better? Give them access to tools that REALTORS® and consumers want and need. Association and MLS can contact Clarus MarketMetrics® for their own monthly market update.

We have mentioned that “knowledge is power” before right?

Well, we really mean it! Having the right knowledge about your local market is what makes you a specialist in your area and in your niche. In order to re-assert your position as “the” local Real Estate source for your clients and potential clients then it is necessary to back up your statements and sales pitch with hard facts.

This is where we come in with our local market statistics;

Take Tucson, Arizona for example, a great area to live and work, but the first question these days likely to come out of a potential clients mouth (or email) is “How is the market doing in Tucson?” and as a well equipped agent you can then instantly provide them with the facts.

For instance in the case of Tucson the data is showing that there are encouraging signs of a market turnaround as with other areas in Arizona and in the western half of the country. The Months Supply of Inventory is down from 8.4 months in June 2008 to 3.6 months in June 2009 with the number of new properties listed being down 7% coupled with an increase in the number of properties under contract which is up 62%. As a general supply and demand overview the number of properties for sale is down 4% an the number of sold properties is up a huge 19%. (see above graphs for more detail or click on relevant links)

Being this knowledgeable and having the ability to show clients where you are drawing your information from helps your credibility (as an individual Realtor with a client or as a Broker or Association with your agents/members). This helps build trust and can increase your sales and better inform clients.

All in all definitely useful and positive information. The question really is, if you do not have access such great information and reports – as a Broker, Realtor Association or even individual agent – why not?

Wouldn’t you want to be able to generate such easy to understand reports that clearly spell out the state of the market in your area? After all it is an important component of what part of a Realtor’s job is - an Educator!

By utilizing Clarus MarketMetrics® user can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or  posted online. Clarus MarketMetrics® allows users to target to a specific zip code for their report and in some cases a map code or even a school district.

Please contact us for more information on our Real Estate statistics products and visit our FAQ section for a little more on what we do.

The data is in, the reports are compiled and the news is great for Houston, Texas.

The Houston Real Estate market has always been strong due to robust growth in the south as well has having a diverse industry base – as well as some pretty good weather!

However despite the national press reporting that parts of the south are struggling to regain ground, Houston, like Phoenix Arizona (as we recently reported) is definitely on the up. Even the Houston Area Realtors Association has their latest market report showing that things are strengthening in their region in June 2009. In fact, they even mention that from their data, at $221,783, the average price of a single-family home rose to its highest level since August 2008!

Above you will see a selection of different reports that our product can produce for your market area. Below these individual reports have been linked to in the writing below.

The average Month Supply of Inventory in Houston for instance is down 34% - meaning that people who are thinking of listing their home are holding off (See one of our reports showing the number of new listings dropped 21%) and those that are listed are being sold at an ever increasing rate lowering the surplus of inventory for sale. In this case falling from a 6.9 month supply in Jun 2008 to a 4.6 month supply. This is backed up with the actual number of properties for sale which is down 27% from 16,766 homes this time last year to just over 12,000 at 12,300 properties – Excellent news and definitely a sign of things moving in the right direction.

This positive swing is also reflected in the Average Days on the Market graph – which is down 8% from 78 days in Jun 2008 to 72 days in Jun 2009, which goes hand in hand with the number of Under Contract Properties By Month – which is up 4%!

All in all definately useful and positive information. The question really is, if you do not have access such great information and reports – as a Broker, Realtor Association or even individual agent – why not?

Wouldn’t you want to be able to generate such easy to understand reports that clearly spell out the state of the market in your area? After all it is an important component of what part of a Realtor’s job is - an Educator!

By utilizing Clarus MarketMetrics® user can run reports on the median home prices and many other report options pulled directly from local MLS data, results can then be sorted and distributed to clients and/or  posted online. Clarus MarketMetrics® allows users to target to a specific zip code for their report and in some cases a map code or even a school district.

Please contact us for more information on our Real Estate statistics products and visit our FAQ section for a little more on what we do.