At Crye-Leike's annual kick-off meeting for its Chattanooga region, Realtors from across the area met to talk about predictions for the local market in 2012. In the crystal ball segment of the program, Crye-Leike Co-founder and CEO Harold Crye offered his forecasts of what he thinks will happen this year.
"We definitely think the market is turning the corner and real estate sales will be on the upswing in 2012," said Crye. "The market is slowly stabilizing and we expect sales to increase modestly in 2012 as the economy gradually continues to recover. We expect to see more renters become buyers as rents continue to rise and mortgage rates remain at a historic low for now."
Crye adds, "For the past three years we've been holding steady along the 3 billion in sales mark and expect to rise to $4 billion in sales for 2012. We feel like we've hit the bottom of the housing market as we saw a surge in sales and were up in the 4th quarter last year."
At this year's kick-off meetings, agents also helped Crye-Leike celebrate another great milestone of 35 years of business helping buyers and sellers with all of their real estate needs. Agents in attendance were awarded and applauded for their service and sales achievements in 2011.
Crye-Leike's Cleveland office had a lot to celebrate about their success in 2011 with 17 of their agents ranking on the top 125 list for the region and 9 Cleveland agents ranked on the top 20 list for the region. The office won the Team Club award for their top success of supporting Crye-Leike's ancillary services encouraging clients to take advantage of the one-stop shopping opportunities and discounts the company offers with title, mortgage and insurance services.
Crye-Leike's Cleveland office is starting off 2012 strong under the continued leadership of Managing Broker Jo Organ who is busy promoting the opportunities in the market right now for buyers and sellers. With existing-home sales finishing on an uptrend in December and rising for three consecutive months at the end of 2011, the Cleveland Realtors are excited to see the market bouncing back slowly.
"We have great faith in the Cleveland housing market this year thanks to residential mortgage interest rates remaining low and an ample inventory of properties to choose from," said Organ. "We have some of the most experienced and dedicated real estate professionals in the market with us here at Crye-Leike Cleveland. I have agents who have worked in the industry for 40 years - like myself - and three with more than 30 years. There's a wealth of experience and knowledge here."
The Cleveland office boasts a sales force of more than 40 associates many of them ranking as continuous top producers for the company. Crye-Leike's Cleveland Realtors are strong supporters of the River Counties Association of REALTORS (RCAR). With a hard working and dedicated sales team, Organ and her fellow associates take great pride in helping people buy and sell real estate.
"After 35 years of offering unsurpassed service to thousands of home buyers and sellers, Crye-Leike is still encouraging everyone to keep believing in their dreams of homeownership as we hope and believe 2012 will bring better times for the housing industry," said Organ.
Crye-Leike Cleveland agents say 2012 is shaping up to be a great year to buy, sell and invest in the future value of real estate. They like helping clients with all of their real estate needs and they stand ready, willing and able to assist even more buyers and sellers in 2012 as they offer some helpful tips for anyone considering a move or purchase:
BUYING A HOME
Select a Real Estate Professional - Selecting a Real Estate Professional to assist you with the home buying process is VERY important. Because buying a home is one of the largest and most important purchases you will make in your lifetime you should always consult a real estate professional to assist you. Our sales associates have the expertise, experience and education to help you make good, sound home purchasing decisions. You will work together to find the right home. Your sales associate will notify you when new properties come on the market. He/She can schedule showings, advise you on the real estate process, help you write offers, negotiate terms and coordinate inspections.
Get Pre-Approved/Apply for a Loan - It's important to get a loan officer to pre-approve your mortgage before you start house hunting. A pre-approval is a guarantee that you can qualify for financing to a maximum purchase price and loan amount. This means you can write a stronger purchase offer. In a competitive market, this could mean the difference between acceptance of your offer rather than another buyer's offer. When you apply for a loan, be sure to get a good faith estimate of your closing costs.
Find the Right Home - Search the Internet for property available for sale. You and your Real Estate Agent will search for homes together. Your agent can guide you to the areas you like best. Have fun looking and shopping!
Make an Offer - Once you've found the right home, it's time to write an offer to purchase. Writing the offer is an exciting, emotional and complicated experience. You'll be glad you have an experienced Crye-Leike sales associate at your side to help you through the process.
Order a Home Inspection - A professional home inspection is essential. A professional home inspector sees beyond the cosmetics and surveys the entire house, including structure, roof, exterior and major systems (heating, plumbing, cooling, electrical, ventilation, etc.)
Attend Closing Day - Congratulations, you will soon become a homeowner! Crye-Leike's full service continues right through to the closing day. At the closing, you will settle all the financial details, the title to your new home will be conveyed and usually you will receive the keys to your new home.
SELLING A HOME
Crye-Leike's one-stop-shopping concept and innovative marketing programs makes it easy for you to sell your home for the best price.
Proper Pricing: Your property will generate the most attention and showings in the first weeks it's on the market. For the best results, you should list it at a realistic price right from the beginning. If your price is too high relative to the competition, the right buyers will not even look at an otherwise attractive property - particularly during the critical stage of initial market exposure. Setting the right price before you list is critical to getting the most for your property and selling it quickly. Having a professional with experience in your neighborhood prepare a
Competitive Market Analysis (CMA) gives you the facts and insights to set the right price
Showing Your Home: With a little effort, your home can be sold more quickly and at a better price. Here are 5 ways to show your home at it's best.
- First Impressions Are Lasting...
- The front door greets the prospect. Make sure it is fresh, clean and scrubbed looking. Keep lawn trimmed and edged, and the yard free of refuse. Be sure walks and steps are free from debris, snow and ice.
- 2. Decorate for a Quick Sale...
- Faded walls and worn woodwork reduce appeal. Why try to tell the prospect how the home could look, when you can show him by redecorating? A quicker sale at a higher price will result. An investment in new kitchen wallpaper will pay dividends.
- 3. Let The Sun Shine In...
- Open draperies and curtains and let the prospect see how cheerful your home could be. (Dark rooms do not appeal.)
- 4. Fix the Faucet!
- Dripping water discolors the sink & suggests faulty plumbing.
- 5. Repairs Can Make A Big Difference...
- Loose knobs, sticking doors and windows, warped cabinet drawers and other minor flaws detract from home value. Have them fixed.
- Home Warranties: Home warranties are very useful, whether you are buying or selling a home. A home warranty policy will pay for the cost of fixing and, if necessary, replacing many systems including heating, cooling, electrical, plumbing, water heaters, ovens, refrigerators, etc. The policy offers coverage against normal damage and is for a set period of time, usually one year. In some cases ceiling fans, pools and even roofs can be warranted.
Crye-Leike, Realtors Cleveland branch office is located at 4627 N Lee Highway, Cleveland Tennessee, 37312. For all of your real estate needs, please contact the office at 423-473-9545. You can also find them and locate a qualified associate on the web at www.crye-leike.com.