How to Sell Your Real Estate Note

Author: Tony Seruga, Yolanda Seruga and Yolanda Bishop of Maverick Real Estate Investments, Inc.
Source: articledashboard.com

Commercial real estate is a wonderful, exciting business that can offer a wealth of opportunity for those who look for it! Many people are often hesitant to enter such a market as commercial real estate for many different reasons. In fact, there are some major misconceptions about commercial real estate which I am going to address here.

Many people who hear about commercial real estate, but aren’t necessarily in the business, often use the expression “Location, location, location!” Many people associate this expression as the truth, that the three most important attributes about a property are “Location, location, location!”

I am here to tell you- this is absolutely not the case! Now, I am not going to say location is not important, but what if you have a beautiful location for a mountain resort, complete with snowy hills, a perfect location for a lodge, and beautiful mountain views? What you want to do to the property is improve it for a weekend getaway for romantic couples with a beautiful lodge, resort, luxury type housing, and perhaps some individual cottages overlooking the green forest. Sounds great, right?

The perfect location- you can’t beat it! But, you learn that the zoning for this property is residential, R1, to be exact. The use is only one single family residence per acre, and no commercial property allowed. What happened to your “Location, location, location?” It flew out the window!

The most important aspect of a property is the use. What is it intended for by designation of the city or county? It does not matter where the property is, if you cannot get the zoning that is in the realm of your intended use.

It is possible to get properties rezoned, especially as cities change and grow. Be sure to consult with the city or county to determine if these changes are even possible, because you do not want to buy a property that you cannot rezone, and be left with an unprofitable property on your hands.

Most people believe that commercial real estate is complicated and you need a special education or know how to succeed in the business. Many think that commercial real estate is filled with international finance, heavy and complicated math, complicated tax rules, and forms and applications that are just too complicated to understand correctly.

I am happy to tell you this misconception is the worst, because it puts a road block in front of many people’s aspirations to become a commercial real estate insider. Let me put this misconception to rest. There is math involved, and most of it is not at all complicated: simple ratios, adding, subtracting and multiplying. What is even better is you don’t have to do the math. There are others who can do that for you. The same is true with property management, inspecting the property, and doing the year-end tax report. In fact, commercial real estate is less complicated than residential real estate because you can focus your energies on a single deal that will be worth perhaps 10, 20, even 50 residential deals and more!

Let me put it into perspective for you. If you owned a business (many of you may), would you create strategies, keep the books, manage the many locations, sell on the front floor, and take out the trash after the day was over? I think not! Commercial real estate is made up of many people whom are there to help you with whatever you need. You must position yourself as a real estate insider, which is a leader in the business.

Another misconception is commercial real estate is management intensive, that you must manage every property you own. Let me tell you when you end up owning 10 or more properties, this is almost impossible to do! You do not have to actually manage your properties yourself, so you can concentrate on creating more deals. Hire a company or set a team in place to take care of this “day-to-day” business.

As you can see, what is passed around in dialogue about commercial real estate is not always true. Before you take everything to heart, be sure to get your facts straight. In fact, many people in this profession speak about commercial real estate as a business in which only the savvy and sophisticated can succeed. They often act this way because they want to keep people out of the market by differentiating themselves. If you were in this position, you would too!

Author: Peter Dobler
Source: articleage.com

Investing in real estate is more complex than simply buying and selling homes. To help new real estate investors to decide which strategy might work for them I put together 5 rock-solid strategies. It is up to you which strategy you feel more comfortable with.
1. Buy and Hold
This real estate investment strategy is commonly known as rental properties. Becoming a landlord is easier than you think. You buy a property, you advertise it as “for rent” and you sign a contract with your new tenant. That’s where the love story ends. You need to know a lot about your duties and your rights as a landlord or you will find yourself in trouble.
Screening your prospect tenants is your first line of defense. Protecting your property from damage is your first duty. I might paint a little bit dark picture of being a landlord. But dealing with tenants can be the most frustrating job you ever had. Do yourself a favor and visit a bookstore or library and get as many books on landlording as you can get. Armed with this knowledge you will be able to create a positive cash flow and a long term relationship with your tenants every time you put the “For Rent” sign in the yard.
With the buy and hold strategy you basically have 3 income streams going at once.
Amortization; while paying your mortgage you also lower the amount you owe.
Appreciation; while owning the property it increases in value.
Tax incentive; as a landlord you will be able to deduct your investment cost over several years. (See you tax advisor for professional advice).
Based on this information you can easily see that even if the rent doesn’t cover 100 % of your mortgage payment you will still be able to create a positive cash flow.
2. Flipping
This is the art of “buying” and “selling” real estate investment without actually taking ownership. In a flip situation real estate contracts get assigned and the person who assigns the contract to someone else typically gets a commission for their services. That’s how you can make money with real estate without credit checks or no money down. Because you never take possession of the property, you don’t need to apply for a mortgage.
You only need 2 things to be able to flip a home. First, you need to find an attractive property that will sell very quickly. Second, you need to find a buyer within a very short period of time. Typically 2-3 weeks. Then you simply flip the contract to the new buyer and you will collect your commission at a so called “double closing”.
This sounds complicated at first, but with a little bit practice you will be able to create a nice income from this. By the way, this is the preferred concept of most real estate “gurus” who appear in late night infomercials.
3. Rehabs
Rehabs are the most risky form of real estate investments. You hunt for a cheap, run-down property and you hope that your preliminary remodel cost estimates will leave enough room for a nice profit. Well that’s the theory. Most real estate investors are failing with this type of strategy.
You either didn’t get the property cheap enough to make a profit or the damages are more extensive than estimated which will offset the cheap purchase price. To make matters worst. If during the rehab phase of typically 3-4 months the market is going south all bets are off. Trust me, I made my share of experiences with this and I told myself, never again.
4. Commercial Real Estate Investment
What comes to your mind first when you think of commercial real estate investment? Big factory complexes, shopping malls or maybe huge office buildings. Well, my answer is much simpler. Anything bigger than a 4 unit apartment building, some call it fourplex, is considered commercial. The great thing with commercial real estate is that the value of the property is determined by the rent income it generates and not by how crazy people are going with bidding on residential real estate.
Theoretically there’s no such thing as sellers or buyers market for commercial real estate. I wrote a complete article about the pros and cons of commercial real estate. So I keep this brief. Personally I love commercial real estate. Of course, commercial real estate is more or less off limits for beginners, because commercial real estate lenders want to see some form of prior experience in real estate investments. However, if you got some experience, go for it. As an added benefit; the competition is far less.
5. New Construction
This is the most affordable and easiest way of real estate investment. Getting into the earliest phase possible of a new development is a sure thing to make money. Keep an eye on the market and you will be able to sell your new home before construction is finished. The construction companies don’t like this, so they limit the number of homes an individual can buy. Even so, keep one or two homes constantly under construction and you will make some nice profits. Of course this works only in a sellers market. Stay away from this strategy in a buyers market or when you see big changes in the local real estate market.
Sincerely,

Peter Dobler
(c) 2005
Peter Dobler is a 20+ year veteran in the IT business. He is an active Real Estate Investor and a successful Internet business owner.
Learn more about real estate investments at http://www.doblerproperties.com or send a blank email to mailto:suncoastrenttoown@getresponse.com

Author: Jeff Little
Source: articleage.com

How to Talk the Language of Real Estate Like a Pro

Spacious, sprawling ranch, exuding unaffected charm, 3 BR, den,
1 ? bath, tucked away in a secluded, park-like setting. Great
starter home. Hurry! This one won’t last!

Ah, yes! I see you’re ready to buy your first home. Been
reading the real estate section again, haven’t you?

Gone out to look at any of these homes yet? No? Well, for
starters, let’s warn you up front – real estate advertising is
… well, let’s just say it’s a language all to itself. Take,
for example, the ad above. Sounds like a great deal, doesn’t it?
It certainly would be if you didn’t have to translate it.

Here, let me show you! Below is a real estate -ese to English
translation of that ad:

Spacious. This means about average size (It’s a little bigger
than that apartment you had when you could sit on one end of
your living room and change the channel on the television – at
the other end of the living room – with your big toe.)

Sprawling ranch. It means whoever created this floor plan had no
idea what the meaning of “plan” was. Look at it this way: You’ll
finally be able to complete those 10,000 steps every health
expert recommends.

Unaffected charm. You’ll need to invest in either a new paint
job or new vinyl siding.

Secluded setting. You can probably guess this one: It’s far, far
away from everything you hold dear to you.

Park-like setting. This means (if you’re lucky) there is one
tree on the entire block.

Great starter home. Shorthand for you either better be handy
with a hammer and have a large credit card limit at a
home-improvement store, or your brother better be a general
contractor.

Hurry! This one won’t last. Literally, hurry. Because the real
estate agent wants to sell it before it collapses.

Though this is an extreme, and obviously tongue-in-cheek
example of the language of real estate, the business does have a
jargon all its own. Jumping in to buy that first home can be
quite an intimidating event. Even seasoned veterans can stumble
on some of the terms.

3 Easy Ways to Ensure your Dream House Doesn’t Turn into a
Nightmare on Elm Street

A home-buying experience is no time to trust that old proverb
“ignorance is bliss.” More often than not ignorance translates
into the potential loss of literally thousands of dollars! Not
understanding your options when it comes to the types of
mortgages available to you, for example, can be the difference
between paying $650 a month or $416. In just one year that’s a
potential savings of nearly $2,800. Now multiply that during the
life-span of a 30-year mortgage.

So how can you learn the language of real estate in 3 easy
lessons?

1. First, give yourself the gift of time. Immerse yourself in
the fundamentals of buying and selling a home. Start going to
open house before you are fully ready to commit. Don’t worry
about wasting the agent’s time – he’s going to be there anyway!
Consider it an investment in your real estate education.

2. Meanwhile, arm yourself with information. In no other area is
the proverb “knowledge is (buying) power” so true. Search out
all the available printed and internet sources you have the time
to digest. Yes, yes. This can be truly time consuming. But if
you find the right sites, a lot of the legwork will be done for
you. For example, the web site provides you with up-to-date news
sources. It’s a veritable one-stop learning experience. It’s
just the type of site that you will want to visit over and over
again, as you learn and stay current with the trends in real
estate. In it you’ll not only keep current with the latest
mortgage rates, as well as tips to help make your home-buying
experience a more enjoyable one. And, you’ll learn what shape
the real estate markets are nationwide. Planning on moving cross
country. Not to worry! With www.a-real-estate-guide.com as your
guide, you’ll know instantly what to expect to pay and where’s
the best place to shop. It’s a veritable wealth of real estate
information.

3. Don’t trust anyone but yourself to look after your own best
interest. Don’t misunderstand this statement. We’re not saying
that real estate agents or mortgage brokers are unscrupulous or
even intentionally out to misinform you. But each has a job to
do: sell. The mortgage broker makes money when you take out a
loan. The real estate agent makes money when he sells you a
house. While they want you to be a happy, satisfied customer,
they are also see you as a potential sale. Your job as a buyer
is to try to save yourself as much money as possible. Don’t be
swayed by their arguments. Don’t “settle” for a house you really
aren’t happy with. Question the broker about a better rate, a
lower payment.

While all of this may sound like a lot of work, you’ll discover
that searching for that dream house can be quite an enjoyable
journey. Once you’re comfortable with the language and have such
trustworthy and informative web sites such as To guide you,
you’ll discover it isn’t necessarily a chore. And while the
“forces that be” may want to persuade you to buy a home larger
than you like or even in an area you don’t care for, you’ll soon
feel comfortable adhering to your agenda and your needs in your
first home.

Happy House Hunting! (It really can be fun!)

Jeff Little

http://www.a-real-estate-guide.com

Author: Real Estate Pros
Source: articledashboard.com

COMMUNITY INFORMATION

The Old Town community is situated in central San Diego County within the state of California. There are approximately 23,567 residents in this Zip code (92110) and 9,953 households. The median age of residents is 34.14.years.

TEMPERATURES

The temperature in Old Town is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 73?F. The coldest time of year occurs in December with average temperatures falling to 58? F.

HOME AND REAL ESTATE PRICES

The housing options in Old Town include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

? One bedroom townhouse/condominium start in the low $200,000s.
? Two bedroom townhouse/condominium start in the high $200,000s.
? Three bedroom townhouse/condominium start in the low $400,000s.
? Two bedroom single-family homes start in the low $500,000s.
? Three bedroom single-family homes start in the mid $500,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from $719,500 in June 2005 to $580,000 in June 2006, which represents a 19.4% decrease. Fewer homes sold in June 2006 (5 homes) than in June 2005 (14 homes). The average time to sell a home increased from 38 days in June 2005 to 100 days in June 2006.

The median price of condominiums and townhomes jumped from $385,000 in June 2005 to $409,000 in June 2006, which represents a 6.2% increase. Fewer units sold in June 2006 (12 units) than in June 2005 (25 units). Units took longer to sell in June 2006 (45 days) than in June 2005 (29 days).

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.

Author: Anonymous
Source: free-articles

March 3, 2004 — If real estate math stresses you, Real Estate Calculator Suite, a Windows??-based financial calculator, can help.

Designed for real estate buyers, sellers and professionals, Real Estate Calculator Suite lets you play with the numbers related to your real estate transactions.

Consumers will appreciate the calculator suite’s user friendly design and “Quick Start” help. Professionals will be attracted by the comprehensive collection of real estate calculators which provide an easy way to get buyers and sellers “in the ballpark”.

Real Estate Calculator Suite includes:

2 Quick Calculators

Popup calculator

Mortgage Qualifier

Loan Amortizer with Monthly and Annual schedules

Loan Spread Calculator

Biweekly Payment Calculator

Refinancing Calculator

Estimated Closing Cost Calculator

Home Seller’s Proceeds Calculator

Rent vs. Buy Calculator

Prepayment Calculator

Real Estate Calculator Suite is designed for Windows?? 95, 98, ME, NT4, 2000, XP Home and XP Professional. Special features include a larger screen layout and larger font size for ease of viewing, a Movers To Do List, a mortgage loan documentation checklist, a Home Inspection form, “Quick Start” help for first time users, improved graphics and faster navigation among the calculators and an integrated Upgrade Center for easy, online updates.

Real Estate Calculator Suite may be purchased for $39.95 USD online at http://www.wheatworks.com. Site licenses and volume discounts are also available. This first release of Real Estate Calculator Suite is also a free upgrade for registered users of Home Buyer’s Calculator Suite.

Download a fully-functional evaluation version of Real Estate Calculator Suite from http://www.wheatworks.com.

For additional information please visit Wheatworks Software’s Online Press Center at http://www.wheatworks.com/press.htm

Author: Tomkin Coleman
Source: articleage.com

As you may know, buying a home involves many different decisions about where you will live and for how many years. Along with geographical decisions, it will often have implication for your financial future as well.
For this very reason, almost all home buyers will enlist the services of a real estate broker or agent to help them make those types of decisions. A real estate agent is someone who is licensed by their state to handle the sales of real estate, while a real estate broker is also licensed by the state, but who has the overall responsibility for the actions of a real estate agent. To determine the value and fair market retail of a home that is for sale, a real estate agent may enlist the services of a real estate appraiser.
No matter what you state you happen to reside in, you can find a real estate school to help you obtain your license. Those of you who are time restrictions or don’t like to travel too far from home, can get your license online. A real estate license doesn’t require a lot of time, yet it will help you get your foot in the door when it comes to the vast world of real estate. Real estate agents, brokers, and appraisers make really good money, and generally get a commission on each house they successfully sell.
If you’ve been looking for a career that will give to you what you put into it, real estate is the career for you. Even if you have no experience with real estate, a real estate school can give you all of the training you need. Then, when the time comes to buy your own home, you can do it yourself. Knowing the real estate market and knowing what to look for can save you a ton of money when buying your own house or property.
The author’s website is http://www.welovebrandonrouth.com Any or all parts of this article may be reprinted in any form, as long as there is a link to the website.

Author: yanni raz
Source: articlesbase.com

California is one of those states where you find all kinds of properties and where the climatic conditions vary hugely from place to place. You have places with moderate temperatures and you have places which experience all four seasons in their full glory. Traffic Jams, beaches and mild earthquakes are all characteristics of California. So there are a number of things to consider before you actually go for investing in California real estate. The first thing to consider for investing in California real estate is to select the place/area for your California real estate investment. This is more applicable to people who are looking at California real estate more as an option for leading their life (rather than an investment option). That said, even if you have chosen the region for investing in California real estate, you need to be careful with selecting the location in that region i.e. the California real estate piece that will fetch you good profit. Generally, growth of business (e.g. big companies acquiring land for establishing their offices) is an indicator of appreciation in real estate (whether California real estate or any other). That is the consideration with regards to new developments in California real estate or with respect to significant changes in the economic situation of a particular place in California. However, there are always opportunities and they are there everywhere. You just have to hunt those opportunities in order to profitably invest in California real estate. Post cards, phone call, public auctions, foreclosures etc are all possible opportunities/ways of getting a good deal for California real estate investment. You could also partner with the local attorneys in the region i.e. attorneys who handle property matters in case of death, divorce, defaults etc. These people can give you good leads on California real estate investments. In such cases, whoever gets the information first gets the advantage. You can really lay your hands on some good California real estate deals in this way. Yes, that does take effort and if you were to think that money can be earned without putting-in even that much effort, I would tend to disagree with you. A small amount of effort can really make a difference of thousands of dollars in terms of the California real estate deal that you get. Another good idea is to inform your friends in California that you are looking to buy a piece of California real estate and, in fact, let everyone know that you are looking for a piece of California real estate. A very good California real estate deal might come to you through one of your contacts, you never know. So with the California real estate prices rising (as always), investing in California real estate does seem like a great idea.

Yanni Raz is a mentor for many in the Real Estate Mortgage industry, Yanni Raz is been tutoring many homeowners in California and help some also to save their homes. http://www.homesinsale.com

Author: Jeff Harpp
Source: articleage.com

Real Estate Web Design:
Abstract: Real Estate Web Design experts review the needs of Realtors(R) and real estate brokers, and highlights the advantages of dynamic real estate websites.
The most successful real estate agents and brokers realize the value of their agency websites and are constantly working to improve them. Unfortunately, many agencies throughout the United States are still working with static websites that are difficult and costly to maintain.
But how do I upgrade? you ask. Often this is not a simple answer. You need to consider the needs of your business and your agents. How will you manage listings? Are you using a Multiple Listing Service (MLS)? Should your agents have access only to certain parts of your administration panel, and not others?
What about logging agent and visitor actions on your website? Here is what you should look for in any real estate management system you contract for:
Dynamic, searchable listings. If your listings are not currently in a database and searchable, they need to be. This feature is the reason so many homes are sold online. It’s the “shopping in your underwear” principle: if a web surfer can access information about your homes at 11pm, and in a bathrobe while watching ER, no less, a whole new window of opportunity is opened, allowing you to showcase your listings 24/7. He immediately emails you and sets up a showing; you arrive at your office the next day, get the email, call him, and you’re on your way to making another sale.
Easy contact methods. All the interactivity on the Net won’t help you if your potential client can’t get in touch with you. Make sure that your newly designed website has plenty of opportunity for users to click to your contact forms: a link from every listing, and multiple contact methods (phone, email, etc.). Don’t require too much information on the form, but make sure you get enough: at least a name, an email address, and a phone number. Also, don’t rely on straight email links to get the job done: many computer users do not have a default email program installed, so when they click on your link all they will find is a setup wizard?a confusing and annoying situation for many users.
Lead management. The other end of the line of communication must be tied in: your lead management system must dovetail perfectly with your website. If you have an existing lead management system, see if your web design company has already built an interface for it, or would be willing to build one for your website. If you do not have a lead management system, find a website system that will provide one for you, seamlessly integrated with the site itself, such as the AWS Real Estate Manager.
System logs System logs and user management and user management. Real estate agencies, unfortunately, are not immune to legal issues with personnel and properties. System logs help you track down what was done on your site, when, and by whom. Make sure that whatever real estate website you choose includes a system log that shows you key activity on your site. You’ll thank yourself later when a dispute arises.
Likewise, you’ll need to specifically manage which sections of your site certain agents are allowed to edit, and others they are not. The administration panel of your website should have a section for setting user permissions: whether a user can edit all listings, or only those assigned to him; whether he can add or delete other users on the system; how many listings he can have and how many images attached to each; whether he can access the system logs, etc. These features will help you properly regulate the bandwidth and quota your site uses so you won’t incur extra charges each month, as well as avoiding duplicate work and conflicts among agents.
Self-updating site pages. If you’ve outsourced updating of your real estate website to a web design company, you know how expensive it can get. Such updates need not reach so deep into your agency’s coffers. When researching your new site, see if it provides a tool to allow you to create whole website pages on your own.
But I can’t write webpage code! you say. You shouldn’t need to. If the site is designed correctly, you’ll have a form that walks you through the process of adding page data and content, complete with hyperlinks, images, font formatting, table creation and all the HTML essentials?with nothing required except a little aesthetic sense. For a good example of a system that accomplishes this, visit http://www.awsinternet.com/real_estate_solutions.html With such a system, you could easily save $2500 or more per year on outsourcing costs.
Whether you’re starting a new real estate agency or are looking for a new design for your real estate website, this information should help you find an effective system that will suit your business’s needs. Other items to consider are search engine friendliness of the website system, marketing skills the firm can bring to the table, and support. Armed with these questions, you can be sure you’re getting your money’s worth, and that you’ll encounter as few problems as possible with the implementation and maintenance of you new website.
The AWS Real Estate Manager is a fully-featured website management system built specifically for real estate brokers and certified Realtors?. The site simplifies the lead gathering process, gives you insight into how, when and where your agents are updating listings and contacting clients, and offers a diverse array of powerful features that will help any real estate office save time, hassle, and money.
http://www.awsinternet.com

Author: Jeff Adams
Source: articlesbase.com

Every industry has a code of ethics. Real estate investing too follows ethical codes. They are mentioned below; Do not lie for a deal to take place. Follow the ethics in landlording There are some deadly mistakes that almost all investors in real estate commit. They are summarized below; Hobby Many investors think that they are only following a hobby by being in the real estate investment industry. It is serious business. Certainly there is no denying in making huge profits. But this does not in any case mean that the industry is not a business of its own. Successful agents do distribute their business cards to almost everyone. This sure ought not to give a bad picture about their intentions and business model. End of education Many investors who entered the industry by chance or without any motive do feel this. They assume that they are on top of the world once the first property purchase is made. Be alarmed. This industry teaches you a different thing every moment. Investors are uneducated This is a common notion that lives in many minds. It is a funny myth. The industry is so full of intellectuals. There is no way that a person with lower levels of IQ can survive in this industry. Hiding the job profile Investors can be proud to be a part of this multi billion dollar industry. There can be no one who can degrade their job profile. And there is no reason to hide their work type to anyone. Comparison to stock market Please wake up. This industry is nowhere related to stock market. People have money and dreams so they buy a home for themselves. In spite of every hurdle you can reach that goal. Remember these suggestions to be successful in real estate investing; It is not about properties. It is not about deals or financing either. Avoid renting to anybody you know very well. Rent only to people who you’ve never had close acquaintance with. There are diverse ways in which investing in real estate can be made possible. People do tell lies. Trust no one except yourself. Keep your senses working and sensitive to the world around you. There is nothing called

Author: Real Estate Pros
Source: articledashboard.com

COMMUNITY INFORMATION

San Marcos is situated in the northern inland part of San Diego County within the state of California. There are approximately 43,167 residents in this Zip Code (92069) and 12,730 households. The median age of residents is 29.85 years.

TEMPERATURE

The temperature in San Marcos is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 76?F. The coldest time of year occurs in December and January with average temperatures falling to 55?F.

HOME AND REAL ESTATE PRICES

The housing options in San Marcos include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

? One bedroom townhouse/condominium start in the high $100,000s.
? Two bedroom townhouse/condominium start in the mid $200,000s.
? Three bedroom townhouse/condominium start in the high $300,000s.
? Two bedroom single-family homes start in the high $200,000s.
? Three bedroom single-family homes start in the mid $300,000s
? Four bedroom single-family homes start in the high $400,000s

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes remained the same at $575,000 from June 2005 to June 2006. Fewer homes sold in June 2006 (51 homes) than in June 2005 (97 homes). The average time to sell a home increased from 33 days in June 2005 to 56 days in June 2006.

The median price of condominiums and townhomes dropped from $392,900 in June 2005 to $385,350 in June 2006, which represents a 1.9% decline. Fewer units sold in June 2006 (30 units) than in June 2005 (35 units). The average time to sell a property increased from 43 days in June 2005 to 67 days in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.