A Professionals Market

I love being asked "What's the market like, Windy?"  Being a big fan of consistent data review, I can provide my inquiring friends and neighbors with a true picture of the housing market in our area.  Real Estate is Local, and our Hampton Roads area has conditions unique to the nation, so a headline from California should not affect the perceptions of a resident of the Tidewater area.  Right now, we are in a very unbalanced seller's market, the kind that make a potential seller decide to try his hand as a "FSBO/For Sale By Owner."  Over the years of dominating the real estate listings in a particular geographical area, I have had several sellers say "I'm going to use the professionals that you recommend and take a shot at selling myself. If I don't get a buyer, I will come to you to list on the MLS."  I'm grateful for their testimony that I have a great team of service providers that I use to help me market my listings. I'm also grateful for their loyalty when they revert to me within a few weeks that they want to sign a contract with me.  The knowledge and skills that I have developed in the past 15 years has always been a benefit to them, and it's the true reward to me at the closing table.  To that end, we are in a "Professional's Market."  We entered the Spring Season 2020 with very low inventory and very high demand (See Housing Market tab of my website).  A reasonable thought for any pragmatic person would be that they could stick a FSBO sign in the yard and have a buyer at the drop of a eye.  The experience of a recent FSBO is the black and white proof that hiring a professional, career agent at the onset of selling a home today will give the seller the best results:

FSBO Sale:

• Home marketed on Zillow Jan 28, 2020 and sold May 8th.
• 90 days on market; industry standard at same time was 63 DOM; 
• Asking price $600K. Sold for $520K  15% below asking price!

Windy Crutchfield Results in the Same Period:

• Homes marketed on over 300 platforms Jan 1-June 9, 2020
• Average of 4 days on the market
• Average of Full Asking Price 100%!!

Industry Results in the Same Period:

• Average of 63 days on market
• Average of 89% of Asking Price.

Cost to Seller 

• Windy Crutchfield/TREG    100.00%            -0.00%      $0000
• TREG associates                  97.38%            -2.62%      * 
• Howard Hanna                    96.80%            -3.20%       $11,200
• Rose & Womble                   96.76%            -3.24%       $11,340
• Long & Foster                      96.38%            -3.63%       $12,670
• Berkshire Hathaway             95.03%            -4.97%       $17,395
• FSBO                                   85.00%           -15.00%      $52,500

(*data from 2019 company results per listing and using $350K listing price)

For Proven Results through the Great Recession, Recovery, and Pandemania 2020, contact Windy Crutchfield, Career Professional in a Professionals Market! (757) 646-8056