Some of Arizona’s most Successful Agents call John Hall & Associates home.

Monthly Archives: August 2011

Realty ONE Group Acquires John Hall & Associates

by on Aug 8, 2011 | Company News, Real Estate News

(Video Transcript:)

This is Jim Sexton with some ground breaking news for the Phoenix real estate market. How about John Hall & Associates merging with Realty ONE Group. (What did he say?) That’s right! John Hall & Associates will become Realty ONE Group.

Who’s Realty ONE Group?

Here’s a company that started six years ago in Nevada. In three short years they went to number one in the marketplace for number of agents as well as number of transactions. They came to Arizona in 2007 and have grown from zero to over 700 agents and have four offices. Last fall they opened in California and have four offices including a fifth this month. They’ve reached 2,500 agents in that short period of time. They are ranked 13th nationally for number of transactions. This is a company that’s going places.

Why are we doing this?

For the past couple of years I’ve been searching for what John Hall needs in order to compete for agents in the marketplace. Here’s what I’ve figured. I need better technology. I need better systems. I need more modern offices and more modern conference rooms so agents can bring buyers and sellers in can sit them down and show them contracts, make presentations, and show them properties. These needs are met with the acquisition by Realty ONE Group. Additionally Realty ONE Group has an intranet system in which agents are able to sign on to have access to their forms, access to their transactions, calendar of events, etc.

So here we are with the announcement via video first, but we’re having meetings on Tuesday and Wednesday August 9th and 10th in which we’re going to have complete packages and complete information of all the incentives, all the reasons, all the questions that you might have about Realty ONE Group.

Additionally the founder of Realty ONE Group as well as his support staff will be here to help answer questions and start to get you set up. The reason we’re starting on Wednesday is because it takes time to order business cards, order signs, and answer all your questions. We’re having all this take place and switching licenses and switching listings towards the end of the month; the last week in August.

Who’s coming over?

The core John Hall & Associates support personal are all included; Marge, Toni, Phil, Bill, Diane and support staff from all the offices are included in this transition process and we’re here to help you and we’re here to answer your questions.
Agents that are doing property management need to get additional information that we’ve put in a separate video on the intranet. Check that out because your conversion path is slightly different than non-property managers.

Let’s review:

Wednesday August 10th, come to your office and pick up your conversion packet that will answer your questions. You’ll receive an email this week with dates and times of meetings at various offices in which you’ll be able to meet the founder of the company as well as managing brokers of their various offices. I’ll be there, I’ll be answering your questions, obviously I hope to see you there and have a chance to interact and let you know why I think this is an excellent idea and excellent opportunity for both of us.

This is Jim Sexton, soon to be with Realty ONE Group, inviting you to Wednesday August 10th meeting. Thank you very much for watching.

Meeting Schedule

Tuesday 8/9 – 9am – Arrowhead – Jim and Phil
Tuesday 8/9 – 8:30am – PV – Marge

Wednesday 8/10 – 9:00am – PV – Jim and ROG Leadership
Wednesday 8/10 – 11:30am – Scottsdale – Jim and ROG Leadership
Wednesday 8/10 – 2:00pm – Tempe – Jim and ROG Leadership
Wednesday 8/10 – 4:30pm – PV – Jim and ROG Leadership

*Realty ONE Group conversion packets will be available on Wednesday 8/10 at each branch office.

Phoenix Real Estate Market – August 2011

by on Aug 1, 2011 | Buying, Careers and Training, Real Estate Statistics, Selling


(Video Report: Phoenix Real Estate Market – August 2011)

July has 8,377 closed transactions as of 8/1/2011. Of those 3,597 (43%) are Bank Owned and 1,991 (24%) are Short Sales. The percentage of distressed sales continues in the 2 out of 3 range.

July 2011 had the 4 highest number of homes sold compared to the last 11 years. It’s an above average or above normal number. However 7/11 was down 21% from June in a month to month comparison; but 7/11 was up 18% from 7/10 in a year over year comparison. Note: ARMLS is currently over-reporting 6/11 total closings @ 11,125. My search today for 6/11 closings found 10,582, which is the number I used for this report.

Our inventory remains low with 20,217 in active status. We could add the ~7,600 properties in AWC status (6,900 – 91% of these are short sales), but I like to compare to previous reports of actives less the properties with contracts on them. So we now have a 2.4 month supply of active inventory, but only because there were ‘only’ 8,377 closings instead of +10,000. A balanced market has 4-6 months inventory, so we’re still in a seller’s market with lots of multiple offer situations.

Bank owned properties have a 1 month supply with approx 3,600 active and 3,600 closed in July. HUD owned homes have a 2 week supply with 289 active and 554 closed.

Short sales come in with 3,900 active, 6,900 AWC, 3,900 pending, and 1,991 (24%) closed.

Prices in July had little newsworthy developments as they continued to bump along the bottom. The median price was down slightly in July (110k), but has basically been unchanged since 12/10. Both the average price ($155k) and the price per square foot (~$80) are at or below their previous low figures from 2/11.

As I look back at July’s performance, I remember when July/August used to have a ‘close before school starts’ flurry of activity. But with only 1 of 3 sales normal (non-distressed), and 73% of all closings vacant, the back to school rush might apply more to rentals than sales in this market.

That’s how I see it on August 1, 2011. Try to stay cool this month.

Jim Sexton
John Hall & Associates Inc.