Stan's Market Report \ december 27, 2007
Dear friends,
Someone in a hunting coat this morning commented that the real estate market is slow, after noticing Stan 1 on my realtor license plate. Then I thought to myself, he might be right? The two year old BMW that I had planned to buy new every two years is four year old. My son's tee shirt saying "Go Harvard", now says "Go Army". Threadbare is now in vogue in the Powell household. A day at the club is how long it takes to convince them I will pay my bill. A day at home to recoup is cleaning house, mowing grass, and laundry. My jokes at work aren't nearly as funny and are followed by "don't you have an open house somewhere"? A commission check is how I used to be paid, and a new career is where half the realtors are headed.
I could go on but you get the picture. Sales stats for the month show 10 mountain homes or condos, most being the latter, no Stoney Creek homes, and no mountain or Stoney Creek lots. You hear some realtors question when the market of 2 and 3 years ago will return, others say knowingly this is the real market. And, of course, we all know that neither is correct or close to being so, and the answer as is so often the case lies somewhere in between.
Interest rates remain favorable, prices are showing some stability, baby boomers are still coming, so the long term trend in the market is very good once we get through this cycle. Both Wintergreen and Stoney Creek are still priced favorably for the amenities, and with some restructuring of the membership and staff we will become again a top flight resort. It will not happen overnight and may have some bumps along the way but it will happen, and the true vision of Jim Wheat will be realized.
For the New Year, I am planning for one of my best years. We have a lovely new office next to the Wintergarden and a second office we will continue to maintain in the valley. I think as a firm we are best positioned to either list or help you acquire a second home in Nelson County and the resort. We are still one of the leading real estate companies in Central VA and the leading firm at Wintergreen. Our confidence is shown by our continuing to maintain a full time marketing director and a large marketing budget, while funding a grand office and coffee shop on top of Wintergreen Mountain.
Best Advice: Market price is what it is today. There are many, many fine properties for sale and, if listing, make yours attractive so it will be shown by all firms. If buying seek as I do, newer and value first, then marketability, and then appreciation. Wintergreen is first and foremost an investment in your family. If the property does well financially, then that is even better. But always remember the first part, and sometimes I even fail to emphasize it enough.
I have great cell service so now I only include that number. I am always here to help in any way, to check your home, to refer you to repairman, or to remind you of bed bugs. Whatever I can do-I truly want to be the person you call.
I have said too much for a Newsletter. Those who have grown tired of me I will be glad to unsubscribe (sounds so much more civil than delete). And always God Bless and have a wonderfully happy and fulfilling New Year. Thanks to all. Enjoy my web link below-one stop for all listings at Wintergreen and Stoney Creek.
- Stan
