You know you’re doing something right when the CEO of the company flies in from out of state to personally say hello.
That’s exactly what happened for the local Century 21 M&M Associates office Tuesday, April 27 when Richard Davidson, President and CEO of Century 21 Real Estate LLC flew in from New Jersey to speak with the No. 1 real estate company in the country that just happens to be headquartered in the Cowboy Capital of the World.
Oakdale played host to the real estate giant when he came to present C21 M&M an award for taking the No. 1 spot for sales in 2009, selling a hefty 7,000 homes, cementing their position as a major player in the real estate market.
“It’s not often you get someone like Rick here in Oakdale,” John Melo, CEO of C21 M&M Associates said of their auspicious visitor.
Davidson, who was appointed president and CEO of the large real estate company in February, was eager to meet the people behind the local office’s stellar success, though he said he wasn’t surprised.
“It’s no surprise given the professionalism of this organization,” Davidson stated. “They’ve done a great job expanding the business in a smart and profitable way. The Century 21 M&M team have done a tremendous job. I’m happy to be supportive.”
Davidson talked with the team managers as well as presented Melo and Larry Matos, broker and C21 M&M Associates President with the Top Company Award, which will be displayed at the new Oakdale offices.
In his capacity Davidson will lead the organization’s approximately 7,700 independently owned and operated franchised brokerage offices and 117,000 sales associates in 67 countries and territories worldwide. With such a wide expanse of responsibilities, it’s easy to see why Melo and Matos were tickled to host his visit to Oakdale.
Prior to his post with C21, Davidson served as the Chief Operating Officer (COO) of Coldwell Banker Real Estate LLC and as president and COO of Coldwell Banker Commercial Affiliates. With 23 years of experience in the business, Davidson said he has “feet on the street” knowledge, which he was ready to share with the C21 M&M team managers.
“In the industry today there is an increase in unit sales and a significant decline in inventory,” Davidson said, noting there was also a 3.3 percent increase in the existing median home price over March 2009.
The federal tax credit for first-time homebuyers was certainly a boon and a strong selling point, particularly for those who had been left behind in the housing market prior to the bubble bust.
“The tax credit was a major benefit,” Matos said. “And it seems more of a long-term fix for the economy.”
Melo agreed, saying, “All the attention had been put on the buyer to stimulate the market.”
While the residential market is showing signs of a slow but promising recovery, the commercial market, which typically trails the residential market by two years, is now feeling the pinch.
“Retail chases rooftops,” Davidson explained. “The commercial market is more closely connected to jobs and there were 8.2 million jobs lost through the recession. It’s going to be some time before we see improvement.”
As public confidence waned in the stability of commercial mortgage backed securities, banks became less comfortable in lending money to commercial operations, such as dairies in the local market, which are currently being hit.
However, Davidson, Melo and Matos were quick to point out that it is an excellent time for residential sellers as well.
“There are great deals out there because replacement costs are higher than the purchase price,” Matos said. “It’s a great opportunity to buy up because you’re buying in a depressed market. You can leverage your money to buy a better home.”
Historically low interest rates, low pricing, and healthy inventory create a good investment environment for the right buyer.
“This is history in the making,” Melo said. “I don’t think we’ll see the same elements coming together again.”
And C21 is primed to ride that wave all the way home as they prepare to reach out to sellers as well as buyers with their new spring program that enters sellers listing their home with C21 into an $8,000 sweepstakes.
“It’s a stimulus for home sellers,” Davidson said. “And we’re going to give multiple prizes away.”
Oakdale Outlook
Tips for Fixing up Your House to Sell
By Paige TeppingRISMEDIA, May 27, 2010--With the summer buying and selling season just around the corner, now is the time to think about how you can create a lasting first impression with potential buyers. Here are 8 simple tips that will help your home stand out from the crowd. Open the drapes and blinds. Sunshine is the world's best decorator and nothing is more depressing than walking into a home where shades, curtains and drapes are closed. Wash the windows - inside and out. For the same reasons as above, no other small improvement will give you more bang than this.Clean up the yard. Cut back overgrown shrubs, particularly those that obscure windows or make it difficult to get to the front door. Mow the grass, rake or pick up downed leaves and branches, put away lawn tools, kids' toys and discard or store any outdoor furniture that is rusty or ragged. If season and funds permit, put down some colorful annuals or put a few nicely planted containers on or near the front porch.Clutter Control. De-cluttering and organizing your home is very important and not just to make the place look neat. A cluttered home looks smaller and less airy. All of the pictures, knick-knacks, even an exquisite art collection are distracting to many buyers. Clean your kitchen and bathrooms – Be sure to pay attention to the kitchen and bathrooms. The kitchen may be old but it can still sparkle. Clean the stovetop with a good degreaser and all countertops to remove stains and discoloration. Wash the front of all cupboards and appliances and keep the floor swept and scrubbed for as long as the home is on the market. De-clutter here too, especially the refrigerator door. Ditch countertop appliances, canisters, etc and keep cupboard doors and drawers closed if your hand is not actually in them. It is critical that the bathrooms sparkle. Old bathrooms can be charming and a new shower curtain or fresh flowers on the counter may be all you need. Put out your best towels and, if you have young children, enforce the flush rule. Refinish hardwood floors. These are a major selling point when selling your home and sometimes a home's most compelling feature. Often they don't need complete refinishing, just to be roughed up and polyurethaned to obtain that killer shine. Paint/Repaint Your Home. If your taste in decorating is a bit strong, it may pay to hire a professional to tone down some of the more dramatic color rooms. Neutral colors are best for marketing your home for sale. Buy, borrow or rent what you need. If your furniture shows the effect of raising five kids or if pets have ruined the rugs and upholstery, think about storing or getting rid of your existing furniture and finding just enough more attractive stuff to get by. If your nest is empty and the kids' rooms are beaten up, throw out the furniture, give the walls a quick wash coat of paint and put one or two small flea market pieces - a hobby horse, a bean-bag chair, the old bassinette from the attic - in the room to merely suggest its use.
Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”
The PHSI in the Northeast declined 3.3% to 75.1 in March but remains 27.2% higher than March 2009. In the Midwest the index increased 1.2% to 98.9 and is 18.5% above a year ago. Pending home sales in the South jumped 12.7% to an index of 121.2, which is 28.3% higher than March 2009. In the West the index rose 1.9% to 99.9 and is 8.8% above a year ago.
“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”
The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
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