At Home in Upland: You Don't KNOW THE MARKET If You Don't Know The NUMBERS - Upland, CA

You Don't KNOW THE MARKET If You Don't Know The NUMBERS - Upland, CA

You Don't KNOW THE MARKET If You Don't Know The NUMBERS - Upland, CA.

By: Brad Rachielles, Realtor

I "run the numbers" for my service area every month. April, 2014 saw very little change from the prior month. Home inventories were down some. Even though the National Association of Realtors is indication National Inventory levels of 5.2 months, Upland fell back to 1.7 months. That is significantly better than April, 2013 when we were at o.9 months. Active listings fell but "Closed Sales" Doubled. The good news is that there are ready, willing and able buyers out there and they are buying up properties faster than sellers are convinced that they can sell their home.

Market Update from Brad Rachielles, Upland, CASometimes, things are not what they seem. While it looked like prices were declining, a closer look revealed that the properties sold were significantly smaller on average, dropping from an average of 2130 Square feet in March to only 1882 square feet on average in April. Double digit size reduction happens occasionally, especially when there is a low inventory to select from. The real indicator is that the average price per square foot INCREASED from $231.67 in March, to $236.92 in April. Almost two percent.

Standard Sales are king in the area with an 88.8% share of the market and that is up 3.7% from March. Also growing in share are cash sales, capturing 4% more just this last month.

There are many amazing numbers in real estate. Some vary by area, even neighborhood. Some vary with the size or the price range of the home. If you are interested in learning more, PLEASE CALL ME at 909-816-7333 and let's have a confidential chat about the number that would make you a seller. If the time is right for you, I'd love to have a chance to present a customized plan for selling your home for the best possible number, and in the time frame that is right for you.

If the numbers aren't right, or if the timing is not quite right..... that's OK, at least you will KNOW THE MARKET better, knowing the numbers.

Remember, numbers are great as an aid, but it's really all about YOU..... Call Me.

Did you like what you Read?

 THANK YOU!

It's All About YOU!             Brad Rachielles, REALTOR, CDPE, GREEN, Upland, CA. 

CalBRE# 01489453
 

 

Brad Rachielles, REALTOR, CDPE, GREEN 

Helping Inland Empire Buyers and Sellers with their Real Estate needs in the Communities of: Upland, Rancho Cucamonga, Fontana, Claremont, Ontario, Chino, Chino Hills, Pomona and La Verne, CA.

CDPE Certified Distressed Property Expert, Brad Rachielles, Real EstateCall Me at 909-816-7333 

Web Page: http://www.BradRachielles.com

e-Mail: bradrachielles@dslextreme.com

 

Comment balloon 22 commentsBrad Rachielles • May 01 2014 07:30PM

Comments

Knowing the numbers is critical for agents who have an interest in accuracy and specificity when speaking with consumers.

With the information contained in our local MLSs, we have all the numbers right at our fingertips.  All we have to do is pull them out in the format to suit our needs.

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 3 years ago

Brad, I agree with you that knowing the numbers is critical especially in such a quick moving market it enables us to provide sound advice based on the current market.  We do visual market reports every single Monday.

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 3 years ago

in small rural markets in the dead of winter, zip for change on the real estate meter. That does not spike widely up, down, sideways like a polygraph on someone never taught how to lie with a straight face. Or experienced running for public office. But your res.net update update update busy work is cattle prodded on the $20,000 blue light special with ten foot pole marks riddling it.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 3 years ago

Brad, the numbers always tell the whole story. You are really on top of your market.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA over 3 years ago

It appears you speak Real Estate fluently...Me "comprehende" and your clients will too

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 3 years ago

I've found that many agents really don't understand numbers, don't know how to find them and "massage them." So when I walk into a client meeting knowing this, I always stand out. But I freely admit that I'm a bit of a numbers geek!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (RE/MAX Executive | Charlotte, NC) over 3 years ago

Interesting thing about number is that they can be manipulated. Washington DC is a perfect example of that.

Posted by Bill Reddington, Destin Florida Real Estate (Re/max Southern Realty) over 3 years ago

Lenn,

Thank you for your support and wonderful comments. You are so correct about the information available in the MLS. It is mostly all there. I'll bet that you also read articles from regional and national sources too and compare those numbers with your LOCAL stats. Gives you good information to help clients set expectations and other things.

I know some agents who shun anything that looks, tastes, feels or otherwise resembles a number.... except those necessary to write an offer or listing agreement. One says.... no, no, no, I can't understand statistics. Knowing this person fairly well, it is fair to substitute the word "Won't" for "Can't".

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

Sam - Good for you! You clearly watch the numbers closely.

Andrew - Some markets are more active than others. Going crazy over numbers is not for the small market. That is why my last sentence is:  Remember, numbers are great as an aid, but it's really all about YOU..... Call Me.

 

 

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

 

Michael - Thank you! I'll bet you are on top of your numbers too, especially being in the commercial end of things.

Richie - That's my goal.... to bring understanding of the market to all. Thanks for your interest in my post.

Nina - BINGO! we're two of a kind. There must be something in the Charlotte water..... I lived just south of Charlotte and had an office near Carmel Commons.... but I digress.....

Bill - That is true. Don't you wish that the folks there felt as strongly about the code of ethics as I do about the Realtor Code of Ethics. HOWEVER, numbers can be very finite and the only true way of conveying information. If you want to know how tall I am, the picture is completed precisely by truthfully conveying the numbers....... I'm 6'-9" tall. No better way to convey some things, including real estate markets.

 

 

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

Brad, I agree. I do several market reports in my area to share these types of numbers with sellers. We can't interpret them, if we don't know them.

Posted by Tammie White, Broker, Franklin TN Homes for Sale (Franklin Homes Realty LLC) over 3 years ago

Tammie - You are right on target! Thanks so much for affirming my post.

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

I am all about the market reports and statistics.  Buyers are so far away from knowing what is best for them because of it too.  I have more buyers looking for a foreclosure and being able to tell them that less than 4% of our closed sales are foreclosures guage their expectations.

Posted by Chris Griffith, Bonita Springs Listing Agent (Downing-Frye Realty, Bonita Springs, FL) over 3 years ago

Brad, I absolutely agree.  It's ALL about the numbers.  Numbers and statistics don't lie.  You can't claim to know the market if you don't have any evidence to make that claim up!

Posted by Jack O'Neal (Conway Real Estate) over 3 years ago

Chris - YOU ARE RIGHT ON TOP OF IT!!! They dojn't know how much they don't know. Thanks for sharing.

Jack - We think alike. Thankl you.

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

I'm guilty of them to predict the market six months too early. I guess it's ahuman instinct that we have.

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) over 3 years ago

I provide monthly market reports about the townships in my county. 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 3 years ago

Laura - Reporting the numbers fopr decision making is a whole lot different than trying to predict. A wrong assurance to a client can get you in trouble.

Gita - I appreciate how much work that is.

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

You know the local numbers well Brad. ( And the market) The example of the smaller sq footage being responsible for a bit of a drop in pricing is so valuable for buyers and sellers. You are the one to call in Upland, California.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) over 3 years ago

Thanks Debb!

Posted by Brad Rachielles, REALTOR, CDPE, Upland, CA (CENTURY 21 Peak, Ca BRE# 01489453) over 3 years ago

Have a great day and productive day, Brad. We've got some sunshine here today - woo hoo. Better carve out an hour for running with Mac. :)

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) over 3 years ago

Brad,

You are so so right on this.  The numbers are what define the market!

Posted by Judi K Barrett, BA, Integrity Real Estate Services -IDABEL OK (Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma) over 3 years ago

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