In case you are curious about 1249 Merritt, here are some pictures for you.
I have my first listing, okay it is my house, but I think it counts (my broker said yes). As it is my first listing, I have been experimenting with many ways to market it. I have no preconceptions of what is good or bad when it comes to home marketing so I will try pretty much anything.
Of course I went with the few musts: Realtor.com, Balloonhomes.com, my site and the MLS. To not do these would be malpractice. But what after that?
The first Sunday after I listed it, we held an open house. To drive folks to the listing I mailed out 160 invitations to the neighbors, friends and folks I thought would be great advocates. I also put an open house ad in The Oshkosh Northwestern's Sunday homes addition. During the two hour open house 33 separate "buyers" attended. This does not include identifiable neighbors and friends. I think this was a pretty good attendance.
The next week I expanded my reach and added a Facebook page for the house. I also scheduled another open house for that Sunday, but no invitations. On the Facebook page I sent out invitations to all my Oshkosh friends alerting to the open house event. Another ad ran in the Northwestern. A dear friend and colleague of mine, Kris Villars, hosted the open house this time. She reported 15 additional buyers came through, including one who saw the house on Facebook.
I also purchased a domain for the house and gave it its own website: http://www.1249MerrittAve.com. I added more pictures to Realtor.com and twittered about the house. I sent out fliers to other real estate agents who had buyers looking for houses like mine. I got slapped for doing that. Apparently an agent in Oshkosh took offense and requested the MLS board make me stop mailing new listing fliers. Don't understand that one.
So, how is it going? There is a lot of interest, phone calls, emails, showings, but no offers, yet. I am open to all ideas for further marketing options. I am going to post to Craigslist and will continue to mail out fliers to targeted parties.
When your first listing is your own house, you can learn a lot and try anything, your client won't mind.
It may come down to tonight! Will the promises made to the residents of the Near East Neighborhoods be kept or will the council again let down another neighborhood, another home owner, another family?
Two years ago the Common Council told the residents of this wonderful inner core community that if they invested in their properties, took care of each other and worked with city officials to help stabilize this neighborhood, the city in turn would crack down on crime, vacant landlords and others who degrade the area with neglect and disrespect. Now the council is threatening to take away these protections and turn it into a political football, subject to the whims of each council member, none of which actually live in the neighborhood.
At the last meeting it was obvious who was leaning on the council and bending their ear. It was not the home owners who have poured their life savings into their homes and properties, no it was landlords. One council member even parroted the landlord association talking points when explaining support for all the poor people who can't afford to live in a well kept up and safe neighborhood. I would like an explanation of how a "poor" person who puts $50,000 of their extremely hard earned money into buying a home is less worthy than the owners of a $500,000 home.
If you care about this issue, if you care about our neighborhoods, if you care about your own neighborhood, if you are tired of absentee folks having more say about your neighborhood than you do, then PLEASE attend this meeting and say so.
It also never hurts to call each council member ahead of the meeting. It is amazing how the last person/group to whisper in their ear gets their vote.
The average sold price for a home in the city of Oshkosh in September was $140,613. It sold for 94.8% of its listed price and spent 179 days on the market. This was an increase of 47 days on the market from 132 days in August. In 2007 a house sold in Oshkosh for an average price of $144,551, sold for 93.9 of its list price and spent 165 days on the market.
The total number of residential sales in the city for September was 88, a drop of 12 houses sold from September of 2007. A monthly change from 117 homes sold in August.
Homes selling under $100,000 made up 34% of the homes sold in September, with homes selling between $100,000 and $200,000 making up 50%. Homes selling over $200,000 made up 16% of all residential sold.
Of the 114 homes sold in September 42% had 3 bedrooms and 48% had 2 bathrooms.
Into October, the city of Oshkosh had 1125 homes currently for sale. That number is down from the 1197 homes in inventory at the beginning of September and an inventory of 1227 homes listed at the beginning of October 2007.
Analysis:
Year over end Oshkosh is holding its own. Our home prices are only down .9% on average from September 2007, $140,613 vs. $144,551. Days on market increased by 14 but the home sold for a higher percentage listing price.
Our inventory of homes for sale continues to drop significantly. The 102 fewer homes on the market from last year is making the options for home buyers smaller. A home seller might see this drop as a great opportunity to take advantage of less competition.
Still, the tight credit market is a primary concern for both sellers and buyers. There are great mortgage programs available for all price ranges. Down payments still run the gamut as well. First time buyers can qualify for a 3.5% down programs, but you need pretty good credit to get a low interest rate.
F.I.C.O. scores of 750 are now the norm for the best rates. This DOES NOT mean you can't get a loan, it just may cost a little more. When things get better, and frankly they have to sometime, you can refinance into a lower rate.
Life goes on and changes continue. If you need to buy a house because you need more space or less space is now better, don't try to game the housing market. If now is your time, go for it.
The last few weeks have been just about the longest of my life.
Many know we have been working to put our house on the market. November 15th the Bishop in Green Bay will make a decision as to whether we can buy St. John's on South Park. We put in an offer the middle of August and have been waiting for an answer ever since. As the magic moment gets closer, it seemed a good time to actually try to sell our house.
The last month we have been making great progress at getting all those little things finished, the ones you told yourself you would get to a few years ago. The progress was slow, but most everything was getting done on schedule. Roofers arrived and began their very messy work, trim painting was finally finished and porch floor refinished.
Then two weeks ago, while at a company meeting in Milwaukee, my mom called to tell me her doctor had just diagnosed her with ovarian cancer. Shock. She had been feeling pretty lousy since March with different medical direction from heart to lung. However her abdomen and stomach were grossly distended.
That day the invitations to our first open house went out. Two hours before the diagnosis. There was no way we could cancel. Open House day was set for Sunday, Oct. 19th.
On the 17th, Thursday my mom was put in the hospital after two very bad days. No medical professional seemed to have an answer as to what was going on. In the afternoon her primary physician sounded worse than grim. There was talk of her not leaving the hospital. The next 72 hours are a sleep deprivation blur.
I know we finished several projects. I know we cleaned the house top to bottom. I know I showed five houses Friday afternoon and I know I spent time at the hospital. Sleep was limited to a few hours a night.
Sunday morning began at 5 a.m. with last minute cleaning, sanding, painting and general readying for the open. I also had a consult with the three physicians over seeing mom's care. By 10:30 a.m. they had decided a eureka moment, she would live and get out of the hospital in a few days. The cancer, not so much of a bother, just a little out patient surgery in a couple weeks.
At noon we opened our doors to all. Two hours later 33 different buyers had come and gone. Whew. It wasn't a disaster.
For all you home sellers out there, I have great empathy. It is hard and scary work.
Mom did return home on Tuesday. She is not well, but we are getting there.
So blogging with more regularity will return and I will start with a market update.
Blog posting and pretty much everything else in my life has been on hold as I prepare for the listing of my own home this week. If you have ever sold a home you know what I am going through. All those little things you promised yourself you would get to eventually, now have a deadline.
The sign is now in the front yard and the listing paperwork is heading to my office. At some point today I will have an multiple listing service (mls) number so every one will know it is For Sale.
This Sunday will be the big reveal. Everyone is invited to stop by and see the final product. We will be open this sunday, 10/19, from 12 to 2. Stick your head in and say hello. Our address is 1249 Merritt Ave., right across from the tennis courts in Menominee Park.
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