Stan's Market Report \ may 3, 2008
Dear friends,
It is time for my April Sales Report: 29 Home, Condo, or attached houses on the Mountain for the year, 3 Homes in Stoney Creek, and 2 lots on the Mountain, and one in Stoney Creek.
Hardly what I would call a brisk market averaging 12 sales a month for all real estate companies, and there are no clear patterns which would indicate a trend one way or the other.
There is some anecdotal evidence of strengthening in terms of appointments, but I do not see that as significant enough to indicate a market turn.
I have to be honest, though I may go broke in the process, that I still see too many listings reflecting prices far afield from the market. This damages both the owners in the long run and adversely effects the total market. No one wants, at least at Wintergreen Real Estate, to sell your property for less than it is worth, but if it passes one full listing period it is likely the reason is price or in a minority of the cases market conditions.
I am still spending most of my time with new homes to be built or newer homes and have remained selective in the condo market.
I am excited that the resort is going through a regime change and look forward to the future with great enthusiasm. As is always the case, there will be bumps in the road, but this is the Resort's opportunity to renew and start in the right direction of better service to our owners and our guests.
We are still accepting lot trades for those wanting to build in Stone Orchard. There are good values in all areas. Building costs though remain constant-those expecting a "deal" or fire sale will be disappointed. Building materials overall have remained fairly constant with sub-contractors sometimes someone less. Pushing the margins too much regrettable will result in a lesser home and one that may be less marketable and show less appreciation over time.
One personal note: The Mountain Office is growing on me albeit slowly. Please stop by when you visit. I would love to see all of you. I am also changing one of my anti-depressants( real estate does that to you) so if you find me less charming in the next week that is the reason. God Bless and see you soon.
- Stan
