It’s the classic George Carlin oxymoron: how can something“shrimpy” be “jumbo”? Do you even need jumbo shrimp? As a shrimp lover and a Realtor, I answer with an emphatic YES!
More to the point, I say that real estate is not far from being jumbo shrimp. Hear me out…
Jumbo: Berkshire Hathaway is now the largest real estate company in America according to industry analytics from REAL TRENDS. Specifically, we’ve transacted more business than any other firm in the USA: 346,629 transactions in 2018. Considering that our closest competitor is the real estate conglomerate NRT (Coldwell Banker, Sotheby’s, Corcoran and others) that’s saying a lot.
Shrimp: There is where I come into the picture. I’m the smallest link in the global real estate supply chain but arguably the most important one.
Without the shrimp you can’t have jumbo shrimp. Without a Realtor you selling real estate in today’s market is very tough, no matter how big you are.
Without a jumbo-brand, all you’ve got is a “shrimpy” Realtor. But if you’ve got at jumbo-brand and a great team of Realtors, well then you’ve got the top selling brand in the USA! Thank you Berkshire Hathaway Home Services!
Having the backing of an internationally recognized and trusted “jumbo” brand allows me to give my clients more of the services they need. Let me help you— give me a call (708) 488-9280 or email me at: KCrowell@KoenigRubloff.com and let’s talk about your real estate needs over a little shrimp cocktail!
“It’s a buyer’s market!”— Those words strike fear in the heart of all home sellers unless you understand how the laws of supply and demand affect your specific micro-market.
Your micro-market is the little slice of similar properties within the market for all homes. At a minimum, micro-markets are defined by location, price, number of bedrooms and bathrooms, square footage, newly built or existing properties, and mortgage type.
Recently I evaluated two homes in two very different micro-markets.
Micro-market: Oak Park: 3BR/2BA, traditional mortgage, resale, single-family detached, $273K-$423K, 1001 to 2000 sqft
Absorption rate: 2.75 months (Seller’s Market)
Micro-market: Oak Park: 4BR/4BA, traditional mortgage, resale, single-family detached, $450K+, over 3001sqft
Absorption rate: 15.4 months (Buyer’s Market)
Six months is considered to be a balanced market— there are as many buyers as there are sellers. Less than six months it’s a seller’s market where buyer’s outnumber sellers. More than six months it’s a buyer’s market where sellers exceed buyers.
How to calculate your absorption rate: This is where I come in because you need to have access to the Multiple Listing Service to get accurate numbers.
Interested in buying or selling? Want to make home improvements and need a baseline on your home’s current market value? Or are you just curious? For any and all of those reasons I’m happy to help!
Contact me at KCrowell@KoenigRubloff.com or at (708) 488-9280.
Kevin C. Crowell: #Determined!
For over 25 years I worked at the company I built, successfully selling high-tech products in Japan, the world’s most demanding market. My work there required a: close attention to detail, superior customer service, exacting quality, and continuous improvement.