Stan's Market Report \ August 2007
All friends,
As summer comes to an end or near so, it will be remembered as one of the slowest on record in terms of sales. In the last several newsletters I have concentrated on listings. In this one I will deal strictly with sales to date.
In Wintergreen, 31 condos, 1 attached home, and 28 homes have been sold, and only 11 home sites have been sold. In Stoney Creek, 14 homes and 10 home sites have closed as of this date. To put these numbers in perspective, the total is less than my total sales and listings from each of the years 2004 and 2005. We had seen as a firm greater activity this summer, but I suspect the recent mortgage problems will negatively effect actual sales at least in the short term.
There are some price declines that one can expect while the market sorts itself out, and, as with the stock market, this provides some buying opportunities that we have seen for 2 or more years. If you have already purchased, what you are seeing is a normal correction which will resolve itself in time. If you have friends who are interested, now may be the time for them to take the first step of an exploratory visit.
I want to thank all of you for the referrals past and future, and I will make sure that receive the best advice in this uncertain market.
I have actually enjoyed not having an assistant, as it has given me the opportunity to do the house checks and take the service calls I would otherwise have not received. It has also given me a chance to renew old friendships and keep a close watch on what is happening with the resort and condo complexes. One concern I have is that carpenter ants seem worse this year than before, and if you have not had your home checked it may be worth a call to one of the local exterminators. I have used and been satisfied with both Shoemaker-434-946-5027 and Intrastate-540-949-5646. Condo associations and town home associations should have this done as a regular part of their maintenance programs.
Wintergreen Real News:
We all eagerly are awaiting the opening of our new office on the mountain in the fall. We had a fabulous 4th of July picnic and plan to make this an annual event. And our new marketing director, Julie Benner, is coming up to speed. We will exit the Bear House when our new office opens, and the Bear will come with us. We still plan a coffee shop and may expand that to breakfast pastries and maybe lunch sandwiches.
It is hard to believe but Matthew starts school in a week. Kephany and I are still enjoying Old Trail and the new friends we have met over the last 10 months.
I want to again thank all for referrals and kind comments. God Bless all, and I hope to see many of you on the mountain soon.
As always, please let me know if you received this in error or would like to be removed from the Newsletter list.
In November I will have another anniversary with Wintergreen Real Estate. Only 10 more to go, maybe more unless they grow tired of me or I of them.
