Some of Arizona’s most Successful Agents call John Hall & Associates home.
Monthly Archives: June 2009
Verizon Discount for John Hall & Associates
A while back I wrote about a so-called Verizon discount for members of the National Association of REALTORS®. Unfortunately I had zero luck in getting the rumored price break. However, while I was going through the process I discovered Verizon gives a discount to real estate agents with John Hall & Associates.
What I expected to be a tedious process that might have ended up with more frustration that money saved – turned into a feather in the Verizon cap. It was super simple. I’m impressed with how few hoops Verizon made me jump through to receive the discount. I filled out this form and faxed it to the number listed on it with a copy of a business card.
Done.
If you’re one of the successful agents that works with John Hall & Associates and have a Verizon account, try it. If you’d like to join John Hall & Associates you’ll need to fill out this form first! 
7/15/09 Update: To register your account – click here to follow this link and use your @johnhall.com email address to get the discount. If you’re a John Hall agent and you don’t have an @johnhall.com email address, you need the Technology Form from the intranet.
The discount is 5% off phone service and 25% off accessories.
Best Real Estate Agency in East Valley and West Valley!
Now, of course if you were to ask any one of the successful agents at John Hall & Associates which real estate agency is the best in town they’d quickly come back with a predictable answer. But when you ask all the reader’s of the Arizona Republic which is the best real estate agency in the west valley and then ask them again which is the best real estate agency in the east valley, the answer isn’t as predictable. HOWEVER!!!!
John Hall & Associates won two 2009 Reader’s Choice Awards; one for the best real estate agency in the universe and one for the best in the galax…oh wait. I’m reading that wrong. The certificates say John Hall & Associates is the…
Best Real Estate Agency in the East Valley
and the
Best Real Estate Agency in the West Valley
Woo-hoo!! Thanks to all who voted.
Agents from John Hall & Associates that would like to use this logo on their matierals can find it here in as a .jpg or here as a .gif file.
The greater Phoenix REO Market
Active Listings – Owned By Banks:
Pending Listings – Owned By Banks:
Monthly Sales of Homes That Were – Owned By Banks:
I’d also like to comment on Michael Orr’s post titled Shadow Inventory from May 23rd. On that day he addressed the rumors that the banks are going to flood the market with all the extra bank owned homes they are holding back. The article is well worth the read. Here are some of the statistics from it…
All numbers are for Maricopa County Only:
18,386 Total Number of Homes Banks Own
- 5,213 Active Bank Owned Listings in ARMLS
- 7,170 Pending Bank Owned Listings in ARMLS
- 477 Temporarily Off the Market in ARMLS
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5,526 Unaccounted for Bank Owned Homes
5,143 Bank Owned Homes SOLD in the month of May 2009
Since the banks extra inventory is only a 1 month supply, “flood” or “tsunami” would be incorrect classifications.
Please read the entire article here – get password here. For an example of how you can use the valuable information from the Cromford Report, check out this post by Dru Bloomfield RE: the Phoenix Real Estate Market.
Talk is circling the office about starting a new series on the blog. It would be a Monday posting of greater Phoenix real estate market updates. The decision has yet to be made as to the frequency of said series, however with any new series comes the need for a new creative name. This is where you come in. Any ideas?
Phoenix RE Toolbar gets FREE ESIGN and ARMLS Property Hotline
Back in January I came across a way cool website – conduit.com – that allows you, me, the world to build custom toolbars that others can install to make browsing the internet easier. It was a quick decision to throw some industry links up, add a few icons and see if local agents found it to be helpful. We called it the Phoenix Real Estate Toolbar.
The toolbar is split up into different sections, but what we’ve found is that agents use the Real Estate Tools section the most – receiving about 45% of the total clicks.
It’s really no surprise this section is the most popular, considering that’s where you’ll find quick links to the most popular real estate websites here in the valley – flexmls, zipform, cromford report, etc. It might also have something to do with the popular Free Marketing Tools list with links to sites such as postlets, armls.diversolutions, flickr, craigslist, etc. Since it’s useful quick links agents seem to use, it’s useful quick links we’ve added.
Today we’ve added two new links to the Real Estate Tools section – beefing it up even more.
One of the links (in the ARMLS section) leads to the ARMLS Property Hotline registration page. We introduced you to the new Property Hotline a couple weeks back. Buyer Acquire has set up a local phone number that you can call to receive listing information on properties – free of charge. I had an agent stop by my office and tell me how handy it has been when there are buyers in the car asking questions about listings they pass. Follow the link to register for a free a password.
The second link has yet to be introduced here on the blog, but I’ve talked about it on facebook, twitter, and am currently discussing it at this months office meetings. Docusign Express – the latest freemium service to benefit real estate agents. This tool is game changing. There is now no cost to have clients electronically sign documents – no cost to email a file to a client and have them click a few buttons that creates an officially “signed” document. Know that Jim “the broker for John Hall” Sexton accepts documents that have electronic signatures. I’ve heard some companies do not – verifying is always better than assuming.
A quick example of how FREE ESIGN is a game changer.
Let’s assume your client is not standing right next to you and you need a quick signature on a document. The document happens to be a John Hall company form that you got from the company intranet. It’s a fillable form that allows you to fill it in without printing it – kind of like ZipForms. You save the form to your computer – knowing all it needs is a signature from your client before turning it into your office.
In the old days (last week) you would have probably opened an email, attached the PDF and sent it to your client. Your client most likely printed the form, signed, and faxed it back to you. Fast forward to today.
Today, you click the Free E-Signature Tool link from the Real Estate Tools section of the toolbar. Then choose “add file” and select the PDF from your computer. Once it’s uploaded, you select FREE ESIGN and type in your information and your clients information and click send.
Your client immediately receives an email – agrees to the terms of service with the click of a button – “adopts” a signature with the click of a button – drags and drops their initials or signature in the proper place and clicks Submit.
You immediately receive an email that says your document is ready with valid signatures. You email it to your office – file complete – no printing needed. Once again, the broker for John Hall & Associates accepts valid e-signatures.
Re-read, then practice on your friend.
Arizona Regional MLS Statistics for May 2009 – by Jim Sexton
How do you track the market for your buyers and sellers?
Here are some numbers as of 6/1/09 -
Let’s look at REO’s – Only 14% of Active Listings are Bank Owned. In fact there is less than a 30-day supply (5,766 Closed vs. 4,916 Active). REO’s Closed are ‘down’ to 62%, and with ‘only’ 54% of Pending being REO’s, the percentage of ‘Bank owned’ should be going down in June.
Short Sale (“SS”) numbers are moving up – not just in the numbers we’re looking at, but the AWC categories have over 4,600 properties being negotiated with the Banks. Active SS listings make up 23% of the market; Pendings are 19%; and Closed are 11%. Closed SS should be going up as agents and Banks find ways to solve the negative equity situation. Let’s hope so anyway.
Why track Vacant? I track this because of the 1 and done factor, i.e. instead of a seller converting to a buyer – with a Vacant sale the seller is almost always out of the market such as a Bank, Short Sale, Estate sale, relocated seller, Spec builder… Using the numbers above for Vacants: 52% of all Active listings are Vacant; 80% of Pending sales; and 84% of Closed sales are Vacant.
Let’s look at the market at specific price points of <$200,000 and +$400,000.
These result in dramatic supply and demand differences. Whereas the <$200K market has a 2 ½ month supply (16700A/7046C) the +$400K market has a 19 month supply (9086A/477C). Another comparison that jumps out in these price points is the < $200K market has 48% of the Active listings, but 76% of May Closings. By contrast the +$400K market has 26% of Active listings, with 5% of Closed for May.
You can continue your analysis of the market by comparing supply and demand in these price ranges, REO differences, or SS movements. Or you can use the Cromford Report to create your own Market Reports.
The ARMLS market area is currently one of the strongest in the country. Our YTD figures are up over 68% compared to the first 5 months of 2008. More and more agents are commenting on how things are picking up for them. I hope this article helps you focus on active market segments and provides you with valuable information to communicate to your buyers and sellers the dramatic changes in our market.
Greater Phoenix Real Estate Market Report – by Jim Sexton
Let’s review May 2009:
Initial May Closings- 9238; Average Sale price $165,500; Median Price $120,000
Let’s Compare April 2009 to May:
Closings +8% (every month this year has shown an increase); Avg SP- UP $5800 or +4% 2nd increase in a row after basically 22 months in a row of declining Avg SP; Median Price UP $4500 or 4% again after 22 months of decline.
Let’s compare May 2009 with May 2008:
5/9 Closings UP 63%; Avg SP down 39%; Median SP down 41%.
Let’s review YTD:
YTD: Jan-May 2008-21,188
YTD: Jan-May 2009-35,657 or plus 68%
May 2009 was also the 12th month in a row of Same Month/Yearly increases. These 12 increases follow 32 months of Same Month/ Yearly decreases.
But do these numbers tell the whole story? Noooo, there are so many pocket markets and so many REO’s and short sales to account for. Tune in later this week for the Rest of the Story.
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