CFR News – Issue 6 – November 2009

Speaking of Real Estate:
Timely Insights & Observations

People, Ideas, Hardware

Brian Summerfield, Online Editor, REALTOR Magazine wrote of one of the most interesting and original thinkers of the 20th century a colonel in the U.S. Air Force that few people have heard of. John Boyd, a former fighter pilot who transformed into a military strategist later in his career, was a colorful and cantankerous interlocutor and a thorn in the side of many high-level, careerist officers who worked in the Pentagon. But he was also indisputably brilliant, and a major influence on several subsequent figures, such as current Secretary of Defense Robert Gates.

Boyd’s rich body of work is too complex to go over in a single article, and not all of it can be directly tied to real estate. However, one of his more succinct maxims is worth sharing here:

“People, ideas, hardware-in that order!”

The core meaning of this statement is that in any conflict, the skill and quality of the people involved and the ideas that motivate them are more important than physical resources like weaponry. But martial applications aside, this concept also has relevance for the real estate industry.

Think, for a moment, about what is presented to buyers and sellers:

* People: That is, a Real Estate agent’s skills and competence, as well as understanding of consumers’ needs and desires and capacity to help them achieve their goals.
* Ideas: The American Dream of homeownership, the importance of having private property, the house as an investment, etc.
* Hardware: The homes, the features therein, and the outdoor surroundings; it can also refer to the physical tools being used to market a property and execute transactions.

Now, this isn’t to say that the third element is insignificant. It’s obviously crucial. Sellers, there are a lot of real estate pros out there, and it is important to distinguish their knowledge, abilities, and reliability first and foremost to establish a business relationship, (people). Next comes the value proposition and positive implications of owning a house (ideas). Finally, there’s the home itself (hardware), which must align to buyers’ wants and expectations (which, of course, brings us back to the first factor).

Even though real estate deals concern property, they all ultimately boil down to who’s involved-buyers, sellers, agents-and what each party wants to accomplish. So, in managing the transaction lifecycle, it is important to have a Real Estate professional that remembers to keep people, ideas, and hardware in the right order.

All Connestee Falls Realty’s agents are members of NAR. Go to www.ConnesteeFallsHomes.com to learn more about the area, see our featured homes and search the Western North Carolina MLS.

Real Estate News

Congress Could Approve Extension of Homebuyer Tax Credit by November 3rd

In a statement issued by Harry Reid, the Senate Majority Leader has confirmed that the Congress might approve the extension of the $8,000 homebuyers credit tax scheme and unemployment benefits. The approval is expected to come through as soon as early next week. The scheme, the actual deadline of which was December 01, has been much useful to people in the current financially crunching times.

“The House said that they would accept that (the extension) and that could be done as early as November 3”, Reid said. “That would be a great relief”, he added. Reid also confirmed that a late vote scheduled on November 02 would bring the debate which has gone on for long to an end.

Under the proposed plan, homebuyers who have lived in their previous residence for a minimum of five years might receive a credit of $6,500. Additionally, couples who jointly earn as much as $225,000, as well as individuals earning up to $125,000, would qualify for the tax credit. Also, the proposal calls for spending as much as $2.4 Billion for extension ofunemployment benefits.

The extension for the scheme’s deadline has come as a relief to the general population. Demands for the same had been made for very long.

Submitted by Harkamal Singh on Sun, 11/01/2009

Connestee Falls Realty
Box Score
(From Multiple Listing Service records)

Residences for Sale in Connestee Falls as of 11-2-2009 – 131

Residences for Sale in Transylvania County as of 11-2-2009 – 721

Prices of Residences sold: (Price) (Price)
Range Median Average
2009 $ 12,000 – $2,150,000 $217,000 $280,514

Connestee Falls
Prices of Residences sold: (Price) (Price)
Range Median Average Ave.Days Mkt
2009 $142,500 – $560,000 $300,000 $308,375 223
2008 $123,000 – $845,000 $329,000 $366,000 185
2007 $159,000 – $872,999 $399,850 $419,457 108
2006 $90,000 – $800,000 $321,000 $343,151 122