Existing home sales declined 3.3% in April, despite the fact that almost half of April sales remained on the market less than one month. The National Association of Realtors (NAR) reported April 2015 total existing home sales at a seasonally adjusted rate of 5.04 million units combined for single-family homes, townhomes, condominiums and co-ops, up from an upwardly revised 5.21 million units in March. April existing sales were up 6.1% from the same period a year ago, and have increased year-over-year for seven consecutive months.

Existing sales in the Midwest increased 1.7% from the previous month, but fell in the other regions, ranging from 1.7% in the West to 6.8% in the South. Year-over-year, all four regions increased, ranging from 13.0% in the Midwest to 1.6% in the Northeast.

The first-time buyer share remained unchanged at 30% in April, compared to 29% in February and 28% in January. The first-time buyer participation remains well below the historically typical 40% share.

Total housing inventory increased 10.0% in April to 2.21 million existing homes, which was still 0.9% below the 2.23 million level during the same month a year ago. At the current sales rate, the April unsold inventory represents a 5.3-month supply, up from a 4.6-month supply last month. NAR also reported that April homes sold in an average of 39 days compared to 52 days in March, and was the shortest time on the market since July 2013.

The distressed sales share remained unchanged at 10% in April, and was down from 15% during the same month a year ago. Distressed sales are defined as foreclosures and short sales sold at deep discounts. April all cash sales remained unchanged at 24% of transactions, down from 26% of transactions in February and 27% in January, and were down from 32% in April 2014. Individual investors purchased a 14% share of homes in April, unchanged from March, and down from 18% during the same month a year ago. Some 71% of investors paid in cash in April, compared to 70% in March, and 67% in February and January. The awaited withdrawal of cash investors will create more opportunity for first-time buyers.

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http://eyeonhousing.org/2015/05/existing-home-sales-pause/

I recently had a sit-down with one of the top real estate agents in Boston, Michael Carucci.

Last year he closed 16 sales in Boston, for a combined total of $71 million in transaction value. He caters to Boston’s elite, people who are in the market for multimillion-dollar properties.

The BlackStorm HVAC Website Design Services and niche are marketing to the affluent and, in a recent meeting, they share with me five simple steps to gaining business and trust from the elite. That is why it’s so important to get your AC repair done right, the first time. That’s where we come in. The air conditioner repair services team at Green Street HVAC is Middle Tennessee’s top provider for all of your air conditioning needs. Whether it’s your heating, air conditioning, or ventilation systems, you can trust that our staff is bringing their expertise to every single job, saving you time and money along the way.

1. Connect.

The most important skill in sales, Carucci says, is connecting with people — not through mailings, social media or advertising but rather through personal, one-on-one dialogue with everyone you meet.

To do this, bestwebsitehosting.ca explains on their site, you must always be listening and taking mental notes about what people care about and then step into their shoes to figure out what would make them feel special and cared for.

Recently, some buyers were driving from New York to Boston for a closing on a property and weren’t expected to get home until late at night due to traffic and weather delays. Carucci thought about what he could do to help them in their stressful situation.

Carucci came up with an idea: food shopping. He had a team member do a full food shop for the clients, even taking into account their child’s allergies.

Upon reaching their home, the clients were delighted to find their new kitchen stocked with enough food to feed an army. “When you listen to people, you can find out what they need and act upon it,” Carucci says. “That’s how you connect.”

2. Immerse yourself.

You must live the life that your potential clients live. You can’t decide to just market to the affluent unless you live, work and play among them. People do business with people who are like them.

One of Boston’s most elite addresses is The Four Seasons, a hotel and luxury condominium development. Carucci sells units there every year. Why? He lives there, among the people he works with. They are his friends, neighbors and business associates, all rolled into one.

3. Remember it’s quality vs. quantity.

Too many sales professionals pursue huge quantities of prospects, Carucci says. He concentrates on quality, he says. He doesn’t want to sell 100 properties: He wants to sell 10 or 20 to elite Boston clients.

When Carucci hosts an open house for a unit, he prefers to do it during a Patriots football game or a snowstorm. Why? The best prospects are the ones out shopping for a property when nobody else is.

4. Mention you’re never too busy to help.

One of the biggest misconceptions about highly successful salespeople is that they are too busy for more business, Carucci says.

Therefore, Carucci makes it a point to remind people he meets throughout the day that he is always available to them if they need any help with real estate or anything else. He says that he’s doesn’t go over the top asking for business all the time, but rather he regularly reminds potential clients that he’s never too busy if they need him.

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http://www.entrepreneur.com/article/241640