spll newsletter
DESCRIPTION
realtor newsletterTRANSCRIPT
Special Interest Articles:
• Appraisers say.. p. 2
• Realtor Food Drive, p. 6
Individual Highlights:
Sales Volume 1
Top $$ Sales 3
AUCTIONS 3
Affiliates 4
Photos 5
New Members 6
Feb. Birthdays 6
The Year in Review...and a little history, too
On Location
In EVERY AD!
Historical Sales Data 2007-2011, All Categories (residential, farm, land, commercial)
History of ALL CATEGORIES-Units-Hundreds
233
328
234
277
323
0
50
100
150
200
250
300
350
2007 Units Sold 2008 Units Sold 2009 Units Sold 2010 Units Sold 2011 Units Sold
History of ALL CATEGORIES-$$-Millions
28708
37153
28529
35401
39729
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
2007 $$ Sold 2008 $$ Sold 2009 $$ Sold 2010 $$ Sold 2011 $$ Sold
Continued, ...a little history, page 2
HAPPY VALENTINE’S DAY!
On Location Page 2 of 6
...a little historyContinued from page 1
ALL CATEGORIES
2010 2011 % CHG.
UNITS 277 323 + 17%
$$$ 35.4M 39.7M + 12%
RESIDENTIAL ONLY
UNITS 208 228 + 10%
$$$ 29.5M 33.3M + 13%
YAY!
Historical Sales Data 2007-2011, Residential Only
History of RESIDENTIAL Units Sold-Hundreds
156
217
168
208
228
0
50
100
150
200
250
2007 Units Sold 2008 Units Sold 2009 Units Sold 2010 Units Sold 2011 Units Sold
History of RESIDENTIAL Units Sold-Hundreds
0
50
100
150
200
250
2007 Units Sold 2008 Units Sold 2009 Units Sold 2010 Units Sold 2011 Units Sold
History of RESIDENTIAL Dollars Sold-Millions
20827
28357
22686
29564
33342
0
5000
10000
15000
20000
25000
30000
35000
40000
2007 $$ Sold 2008 $$ Sold 2009 $$ Sold 2010 $$ Sold 2011 $$ Sold
Appraisers say "Don't Blame the Messenger" for Low Home PricesBy Jann Swanson, MortgageNewsDaily.com
The Appraisal Institute has apparently had enough and has decided to fight back against what it perceives as unwarranted blame for depressed home prices. In a press release the Institute says, " Don't blame the real estate appraiser if it turns out that house you're trying to sell or buy isn't worth what you thought it was."
See Appraisers, page 4
On LocationPage 3 of 6
March 15th Membership Meeting @ 12:00 PMBoard of Directors meets in February.
506 Merritt St.,South Boston, VA
List Price: $274,900
Sell Price: $272,000
SF: 2700
Year Built: 1999
DOM: 303
Listing Agent: Scotty Felton,The Davis Co.
Selling Agent: Gail Burton,United Country Virginia
202 Eanes St., South Boston, VA
List Price: $249,900
Sell Price: $245,000
SF: 3600
Year Built: 2006
DOM: 202
Listing Agent: Wanda Jeffress, Palmer Properties
Selling Agent: Doug Loftis, Palmer Properties
TOP $$ Homes Sold in January (between 12/26 and Press Time, 1/24)
1088 Liberty Rd.,Nathalie, VA
List Price: $149,500
Sell Price: $120,000
SF: 1990
Year Built: 1988
DOM: 116
Listing Agent: Doug Loftis, Palmer Properties
Selling Agent: Scotty Felton, The Davis Co.
AUCTIONS ADDED TO NAVICA
In January, a new category of Listings will be added to Navica: AUCTIONS.
This new Navica enhancement will include auctions for residential, farm, land and commercial.
Your Board of Directors will be adding new NAR-sanctioned MLS Rules to govern auction listings, including such considerations as listing price, buyer/broker registration, how commissions are paid, etc.
WATCH FOR UPDATES
You will receive an
Evite before the date.
Association News...
The next Membership Meeting will be
Thursday, March 15,Clarksville @ 12:00 PM.
Location and SpeakerTBD.
March '12Su M Tu W Th F Sa
1 2 34 5 6 7 8 9 10
11 12 13 14 15 16 1718 19 20 21 22 23 24
25 26 27 28 29 30 31
Board of DirectorsMeeting
Thursday, Feb. 16@
8:00 AMClarksville
Lamplighter Restaurant
On Location Page 4 of 6
Our Affiliates deserve our support, since they join our association not out of need for MLS subscription, but as a show of support for our Realtor® community. Please support these fine professionals!
Walter Beales, Beales Law Offices, Clarksville & Boydton Tom Lipscomb, Thomson Lipscomb Law Office, Boydton Ann Zimmermann, Law Offices of John Greenbacker, Halifax Amy Powell, Benchmark Bank, South Boston Jeff Walker, Farm Credit of the Virginias, Halifax Detrick Easley, All Pro Carpet Cleaners, Halifax Jerry Ramsey, Home Dynamics Home Inspections, Clarksville Brandon Scearce, Nationwide Insurance, South Boston Eric Arthur, Nationwide Insurance, South Boston Bruce Elliott, Southern Land & Properties, Scottsburg Brad Palmer, Palmer Painting & Services, South Boston Lee Brown, The Bug Company South, South Boston
Contact information and a description of each member’s services can be found on our web site: http://www.usamls.net
/southernvirginia/
Thank You, Affiliates!
We areALL
Connected!
AppraisersContinued from page 2
Speaking for the Institute, its president, Sara W. Stephens, MAI, said that real estate agents, homebuilders and others have placed blame for the market's distressed condition on appraisers who produce opinions of value that don't match a home's listing, contract or sales price, delaying a recovery in the housing market and called that accusation "nonsense."
"The fact is that appraisers are undertaking the same thorough research and thoughtful analysis that they always have in order to continue producing reliable, credible opinions of value," Stephens said. "Don't shoot the messenger."
It is unclear why the Institute decided to refute the claims about appraisers at this time. We did a search and found a number of articles with the blame appraisers theme, but none that were more recent than last summer except for charges from the National Association of Realtors that low appraisals are among the reasons for recent high levels of sales contract cancellations. NAR, however, has been complaining about low appraisals since at least the spring of 2009. Noting that buyers and sellers often have emotional value attached to a home or are unaware of the market, Stephens pointed out that appraisals completed for mortgage transactions are used to assist lenders, who are the clients, not buyers or sellers, in making lending decisions - and are not intended to confirm a listing, contract or sales price. There's no reason to assume the contract price is the "correct" price simply because it's higher than the appraisal, she said.
As to the claim that appraisers are using distressed sales as comps for market rate properties, Stevens said that qualified appraisers know how to handle adjustments for distressed properties and added that in some markets, distressed sales are so prevalent that it would be improper not to use them as comparables.
The Institute also released two handouts. The first explains the process of conducting an appraisal in a declining market and includes a discussion of how an appraiser discounts a distressed comp. The second handout attempts to explain what an appraisers job really is, making the points that:
Appraisals aren't intended to confirm a home's sales price. Appraisers don't set the real estate market; they reflect what's happening in the market. Appraisers work not for buyers or sellers, but for lenders. Appraisers are independent, third-party experts with no motive to be biased. Appraisals sometimes are assigned to the least qualified, least competent appraisers, but especially in a distressed market,
competent and qualified appraisers - such as designated members of the Appraisal Institute - should be hired for difficult assignments.
Appraisers know how to use distressed sales as comparables.
On LocationPage 5 of 6Officer and Director Installation at Berry Hill
Plantation
Swearing In by Mary Dykstra (far R), Pres.-Elect, VAR. L to R: Carole Blair, Karin Kuhn, Jim Davis, Kathy Diamond
2012 Officers: C. Blair, Treasurer, K. Kuhn, Sec., K. Diamond, Pres.,
J. Davis, VP
Jim & Honey Davis were presented the PRESIDENT’S AWARD for their many
contributions to the association
J.C. Eldreth was honored for his 2 years of service as President; Cynthia
Lowdermilk on left
Let’s EAT! The Berry Hill venue was wonderful
The Palmer Properties contingent: Lucky Palmer, Debbie Palmer, Rhonda Buckley
United Country in full force: Janice Pitts (back of head!), Sarah Hall, Chris
Crouse, Gail Burton, Mitzi DeJarnette
Chatting Up the Group: David Williams, Lora DuBois, Marty Mobile, Tom
LipscombA line up of Presidents: Sharon Wilborn,
Kathy Diamond, J.C. Eldreth; Mary DykstraKathy D.’s back, Leasa Oakley (almost
obscured), Lisa Phillips, Radford Trent, Walter Beales, Nellie Newton
Karin Kuhn, Franklin Dover, Carole Blair, Fred Gaston’s back,
Nancy Eldreth’s back (J.C.’s wife)
On Location Page 6 of 6
February
20th- William Coalson
♪ ♫ ♪ Happy Birthday to You! ♫ ♪ ♫
NEW REALTOR®/APPRAISER MEMBERS:Wayne Stevens, Wayne Stevens Inc., new to MLS
MEMBER CHANGES:Brook Hatcher, Resigned, United Country VirginiaLinda Crutchfield, Resigned, Wayne Stevens Inc.Christi Hudson, Resigned, Wayne Stevens Inc.Charles Purcell, Resigned, Wayne Stevens Inc.Toby Hunt, Resigned, Wayne Stevens Inc.
New Members and Member ChangesSouthern Piedmont Land & Lake BOR
P.O. Box 1072South Boston, VA 24592
PHONE:434-222-9924
E-MAIL:[email protected]
Cynthia LowdermilkAssociation Executive
&Jack of All Trades
We’re on the Web!See us at:
http://www.usamls.net/southernvirginia/
Birthdays, Weddings, Births, Awards…we want to know it ALL.
Realtor FOOD DRIVE for the holidays...
Betty Compton (far right), a volunteer for The Good Samaritan in South Boston, receives Realtor-donated food from J.C. Eldreth, President, and Honey Davis, Chairwoman, Community Services Committee, to help stock the food pantry during the holidays.
THANK YOU, REALTORS, FOR YOUR SUPPORT
ANDGENEROUS
CONTRIBUTIONS!