Real Estate Headlines
November 2009
HOME BUYERS SCORE BIG
New Cash Rebate for Most Home Buyers. This program that went into effect on November 6, 2009 (when President Obama signed the legislation), gives a Federal Tax Credit of up to $6,500 to anyone purchasing a home that has used their previously owned residence for 5 consecutive years out of the previous 8 years. If you have owned your current home for more than 5 years and are selling and buying at the same time, you are eligible. If you lived in your home for 5 years but have sold and rented the last two years, you still are eligible. With this program, you must enter a contract before April 30, 2010, but will have until July 1, 2010 to close.
First Time Home Buyer Cash Rebate. The first time homebuyer Federal Tax Credit that was to end on November 30 has been extended to April 30, 2010. Remember, a first time homebuyer is anyone who hasn’t owned a home in the past three years. If you purchase and close on a home before April 30, 2010, you will receive up to an $8,000 Federal Tax Credit. (There are exceptions to close up to June 30, 2010). This is a great opportunity.
Century 21
September 2009
Sales Headed in the Right Direction
Pending home sales in July reached their highest mark in two years, and closed sales also continued on an upward path. As a result, inventories are tightening; in June there were 3.8 million properties for sale nationally, compared with 4.5 million at the same time last year.
More broadly, there are other indications the economy is heading up. Durable goods orders have risen for three straight months because business inventories have been depleted. The stock market has also made a nice comeback, and exports have been rising faster than imports.
Thanks to these promising signs, we forecast higher home sales and stabilizing prices in the year ahead. But there are still some concerns.
First, although inventories are improving, it’s possible that many owners want to put their home on the market but are waiting for conditions to improve. Banks may be doing the same with their foreclosed properties. These concerns might be off the mark; in areas where housing has been recovering, we would expect to see inventories softening as sellers and banks jump back in, but we haven’t been seeing that.
Beyond the housing market, there are other economic factors that could hold back recovery. The country is looking at a continuing long-term budget deficit that could translate into higher mortgage rates. We’re also looking at rising oil prices ($70 from $50 earlier this year), with that extra money shipping overseas rather than staying home. And heavy job losses make it likely foreclosures will keep rising through the remainder of the year.
Still, we have reason to be confident. With home sales heading up and inventories shrinking, prices are stabilizing. These are the key conditions needed for housing to lead the economy into growth mode. Once that happens, jobs will follow.
August 2009
Century 21 Vista Clients Score Again
Century 21 Vista held their first Annual Client Appreciation Picnic, Sunday August 23rd at the Lions Park on the shore of West Battle Lake. Over 350 people attended the event, participating in a hog roast picnic, children's games, entertainment, and real estate news by Century 21 International. Best of all, there were 10 cash drawings! The grand prize winner of $2100 in cash was Christopher Fritz of Fergus Falls. The event was sponsored by Century 21 Vista real estate agents and local partners. Buyers and sellers of real estate sold so far in 2009 were present. Will we see you there next year?
July 2009
REAL ESTATE SALES UP AND DOWN
Residential sales in Otter Tail County are dead even with last year at this time. Even better, the average sale price has risen 7%. The reason? We are somewhat insulated from high inflation and recession. Our county people ARE working, gas prices and interest rates are low and the best investment is still real estate. In addition, we can enjoy the use of our real estate investment. But the best part is, we don't lose money on our investment but rather, the value has always increased.
Lake home sales are down from last year as they generally are when we have had a severe winter. They are picking up with gusto as of June and July, however. The bread and butter buyers (lower priced lake homes) are back which is good news because they left the market last year, due to many factors. Most of our lake home buyers come from major metro markets where recessionary times have had an impact. Consequently the buyers coming to Otter Tail County have a very good selection of lake homes to choose from. We at Century 21 Vista are finding that many more sellers are using our free staging service to help prepare their homes "to sell faster" than the competition.
June 2009
SELLING YOUR LAKEHOME - SOME THINGS TO CONSIDER
We have 2 lakeshore offices with 7 agents who specialize in the sale of lakeshore. These agents say that the following are the most frequently asked questions by Buyers:
* Lake size - acres * Water clarity *Fishing * Swimming * Lot Size *Lot topography * Lake frontage size *Location * Distance to communities * Driving distance from buyer's home * Does the agent have access to all for sale properties * Need more information posted on the website. Note: we have the entire multiple listing services downloaded on our website and many real estate firms don't have adequate information or photos. * Financing * Land & Resource requirements * Zoning * Knowledge of the community * Re-salability * Real estate trends *Statistics for the real estate market for the last 3 years * Agent technology skills * Agent negotiating skills * Home suitability and condition *Comparable sales data to support price * Competitive listings
Buyers are much more sophisticated than when Century 21 Vista came to Otter Tail County 32 years ago and are very particular when choosing an agent and homes to view. They use web sites almost exclusively (90%) and have selected the homes to view before ever leaving home. The end result.....both buyers and sellers are choosing the leading agencies and agents more than ever before.
May 2009
REAL ESTATE STIMULUS
The sale of lakehomes continues to be strong. After one of the severest winters in recent memory, lake home sales have begun in earnest. The real estate stimulus plans in place seems to have a positive influence on real estate sales along with very low interest rates. However, there are 333 lake homes for sale this year for buyers to choose from; in fact, there is a 2-1/2 year supply, so buyers have a very good inventory to choose from. That puts downward pressure on prices. Most lake home buyers for Otter Tail County come from outside the area which is true for most US resort areas. Generally these buyers are from real estate depressed areas where real estate values have decreased. We have found that by using our training to represent our county's positive lake home values is paramount in being able to help our sellers achieve maximum true values when selling. Buyers and sellers realize that knowledge of those statistics is important. The good news? It is a very good time to enter the lake home real estate market, whether buying or selling.
RE: $8,000 FOR HOMEBUYERS
Home Purchasers Get a Tax Credit Windfall If They Buy Before December!
There's a nice windfall for some homebuyers in the economic stimulus bill. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, which everever is less - on their 2009 taxes.
A big plus is that the credit is refundable, meaning tax filers see a refund of $8,000 even if their total tax bill - the amount of withholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount.
To qualify for the credit, the purchase must be made between January 1, 2009 and November 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyers. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Aditionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
Applying for credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
Many may look at the tax credit as a discount on the home price, according to Olson. A $100,000 purchase effectively becomes a $92,000 one. That can reassure buyers apprehensive about purchasing in a down market, he added.
And it provides a nice nest egg for the often-difficult early years of homeownership, when unexpected reapirs and expenses often crop up. Recipients could also use the money to buy new items for their home - a lawnmower, a rug, a sofa - and in that way, help stimulate the economy.
February 2009
Real Estate - A good InvestmentAverage sale prices of Otter Tail County Real Estate continue to edge up year after year. 2008 was no exception. Average sale prices in
In fact, the return on investment for the last ten years for homeowners in
That’s the American dream…..buy and live in a home in
WHAT’S THE FUTURE? YOU BE THE JUDGE
· Interest rates continue at around 5%
· Homebuyers may receive a $15,000 rebate, depending on Congress
· Gas prices are less than $2.00 per gallon
· Our agricultural economy is good
· Investors are turning to Real Estate
· A housing stimulus package
· Senior home mortgages available with no payments due – ever.
Now is a good time to enter the Real Estate Market!
Lakeshore Sales Explode
Sales of lakeshore went up 45% for Century 21 Vista in 2008. According to multiple listing statistics for Otter Tail County, sales rose only 4% for ALL Realtors. The increase can be attributed to our lakeshore agents who are located in our lakeshore offices in Battle Lake and Ottertail - the heart of the lakes area. Also, are internet presence is astounding as our listings are on 11 major real estate web sites. 84% of people who purchase real estate look at a real estate website first.
Our predictions of several months ago are coming to fruition, i.e. the election completed, gas price reductions, interest rates at historic lows, money markets staying low. The result.....Century 21 Vista sales in December 2008 doubled our sales of December 2007.
Look for a repeat in 2009! Buy or sell lakeshore property this year. Do it with the professionals at Century 21 Vista, the only real estate firm with a 45% increase in sales!
December 2008
Foreclosure
We don't see a lot of foreclosure in Otter Tail County, especially on the lakes where we continue to set sales records. But do you know that the majority of people that foreclose their property NEVER once pick up the phone to speak with their lender to discuss possible, creative accommodations that may be considered during these tough economic times. The lender is typically in the dark as to individual's hardship other than he/she is behind several months of payment.
Did you know that it costs a lender roughly 20% of the mortgage principal to foreclose on a property? So what does this mean exactly? Say you are working with a client that owes $200,000 on his mortgage and he is so far behind on payments that he's looking to foreclose. That lender will spend roughly 20% of the remaining $200,000 owed just to retain the property and attempt to sell it back to the marketplace. That's $40,000 it will cost the lender! The good news is that it's in the lender's best interest that people do NOT foreclose; instead work out an alternative payment option or interest rate. The lender does NOT want people to lose their homes. They WANT to work with homeowners. Communication is the key! Remember, lenders want to avoid the excess costs associated with foreclosure. They have nothing to gain, and so much to lose. Spread the word! Communication is the key.
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November 2008
Real Estate Markets Are Local
Real estate markets are local - like the average temperature in Miami versus Otter Tail County.
Real estate values have maintained here in spite of what real estate values in other markets have done. Sales are down in the county except at Century 21 Vista. We have maintained our sales volume primarily because of the 12 national websites we put our listings onto, but also our seasoned agents and the 30 year longevity of our company. Therefore, I have a positive outlook due to low interest rates, the availability of money and also the pent up demand.
The sale of cabins and lake homes continue to match last year as do values so Otter Tail County is a great place to own real estate. Remember, REAL ESTATE MARKETS ARE LOCAL!
November 2008
Real Estate Good News!
Sales of lake front property is up 6% over last year. 2008 has been the year to buy and sell lake homes. The reason? It could be the favorable capital gain rates, or the very good mortgage interest rates, or the quality of our lakeshore, or the wonderful choice of property - who knows. But Otter Tail County is setting records for the sale of lakeshore and so is Century 21 Vista! Century 21 Vista is the leading seller of lakeshore in the county and this year we are setting records.
The future is rosy. In the past 35 years: 1. Whenever the stock market suffers, people turn to real estate. 2. Sales pick up after election uncertainties are over. 3. It appears the economic stimulus package will work. 4. The United States is committed to bring troops home from Iraq. 5. Money market rates and CS's are not generating good returns. 6. Gas and heating costs appear to be heading down.
Keep your eye on premium properties on the premium lakes as these are the hottest sellers for 2008!
October 2008
LAKE HOME SALES - A BRIGHT SPOT FOR THE 1ST 9 MONTHS OF THIS YEAR
Lake home sales are neck and neck with 2007, according to multiple listing recods. That is very good compared to residential sales which are down 29% in the county. The higher price lake homes have been selling the best ever, meaning level lots, high-quality homes and sandy shoreline on our better lakes. Buyers, now more than ever, can truly find their dream home because there is a 2 to 3 year supply of lakes homes for sale.
Otter Tail County is also seeing a softening of values on second to third tier lakes and or lake homes with high banks or vegetative lake frontagte. In fact, it is so soft that in many cases the Otter Tail County Assessor has assessed lake home values as much as 38% more than the sale price. That prompts me to encourage you to attend the Board of Equalization meetings of your township if you don't agree with the market value as it appears on your tax statement. Should you need help in valuing your property, contact one of our Century 21 Vista Realtors who are professionally trained in doing market opinions of the current sale value of your property.
August 21, 2008
US Government Announces Housing Purchase Tax Credit
As part of the "Housing and Economic Recovery Act of 2008" that was recently signed into law, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time homebuyers. This is good news for first-time homebuyers.
The highlights of this federal tax credit are as follows:
1. The amount of the federal tax credit is for 10% of the cost of the home, up to a maximum credit of $7,500. In essence, this is an interest-free loan that enables consumers to receive a tax credit on a dollar-for-dollar basis on their personal income tax return in the calendar year following the year of closing on their home. They begin paying the tax credit back the year after that and make equal installments during the next 15 years. If the homeowners sells the home at any point during the 15-year payback period, then the remaining amount is recaptured, unless they sell the home at a loss, at which point the balance is forgiven. For example, if a home costs $65,000, the allowable credit would be $6,500. If a home costs $120,000, then the allowable credit would be $7,500.
2. Eligibility is for first-time homebuyers only. In this case, a first-time homebuyer is defined as an individual who has not owned a primary home at any time during the PAST THREE YEARS, but who may have done so previously. Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.
3. Individals whose Form 1040 filing status is single (or head of household) are eligible for the tax credit if their income is no more than $75,000. Individuals who file a joint return may have no more than $150,000 in income.
4. Individuals with incomes between $75,001 and $94,999 (single) or $150,001 and $169,999 (joint returns) are eligible for a partial tax credit.
5. Individuals with incomes greater than $95,000 (single) or $170,000 (joint return) are not eligible for this tax credit.
6. The federal income credit can be claimed on one's individual or joint tax return for the purchase of any single-family home between April 9, 2008 through July 1, 2009. Individuals should consult a professional tax advisor for exact tax calculations. For example, if an individual's actual tax liability was $5,000, then after the tax credit is applied the purchaser would receive a total refund of $2,500. The refundable amount is the difference between the $7,500 tax credit and the amount of one's tax liability. If an individual's actual tax refund was $2,000, then after the tax credit is applied the purchaser would receive a total refund of $9,500.
7. This tax credit is required to be repaid without interest in equal installments of 6.67% of the total credit each year for 15 years beginning the year after the tax credit is claimed. For example, if a homebuyer claims the $7,500 credit in 2009 on their federal income tax return for a closing that occurred in 2008, then the credit is received in 2009, so repayment begins in 2010 with an annual repayment amount of approximately $500 a year.
For further information, go to www.century21.com. For help in purchasing a home under this tax credit, contact a Century 21 Vista Realtor at www.century21vista.com
INVEST IN LAKESHORE REAL ESTATE
By Alan W. Olson, Broker/Owner
Despite what Wall Street wants you to believe, owning a lake home isn't the same kind of investment as stocks or bonds. What you get is a USE asset that grows in market value. All you have to do is keep the home in good repair to maximize your investment. Here are 4 reasons why you get more for your money with a house than the stock market:
1. LEVERAGE. With stocks, you put in all your money for a little piece of a company. With a house, you put in a little money to get the entire house. Keep this in mind: purchase a lake property for $250,000 with a $13,000 down payment. Appreciation for the last 5 years has been 6.68% per year - on your purchase - $16,700 per year. This is a 18% return on investment each year!
2. TAX BENEFITS. Uncle Sam knows that owning a home is a pain in the neck; that's why you get tax incentives. These are basically government bribes to get you to buy. Think about it, with what other investment can you put in 5% of the cost of the asset, reap all the appreciation and pay no capital gains? That's right: homestead your home for at least 2 years, and you don't have to pay capital gains tax on up to $250,000 in appreciation if you are single and a combined $500,000 if you are married. And that's not all - consider the benefits of fixed-rate mortgages, property tax write-offs, interest rate deductions. Is this a great country or what?
3. LIFESTYLE. Do you want a look at a concrete jungle or your children playing at your lake home? With your home, you are purchasing a vantage point for yourself and your family - the lake you want to be on and the size and style of a home that fits your needs.
4. VALUE. Unlike some stocks, your house will never become worthless. Barring a catastrophe, your home will retain value, even in the worst of times. So don't freak out about slight fluctuations in the value of your home in any given year. You'll make it up. Housing has lost value only 1 year out of the last 35. It's more normal to beat inflation by 1 percent to 2 percent.
TAKE STOCK IN THIS
So let's add a little perspective here. You lost a greater percentage on the stock market this past year than if you owned a lake home. You lost more on your SUV. And you sure lost a lot more on your iPhone.
And keep this in mind: When it's summer, which would you rather have - a lake home or a stock certificate?
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June 10, 2008
Press Release by Alan Olson, Broker/Owner
Alan Olson, Broker/Owner of Century21 Vista, Inc. announced today that Connie Caspers and Pat Johnson were recently awareded the Accredited Buyer Representation (ABR) designation by the Real Estate Buyer's Agent Council (REBAC) of the National Association of Realtors.
This coveted designation is the benchmark of excellence in buyer representation and is awarded to real estate agents who meet the specified educational and practical experience criteria needed to provide the high level qualtiy service required by REBAC.
Home buyers can be assured that ABR Designees subscribe to the strict Realtor Code of Ethics, have access to the latest technology and are committed to their clients' best interests when buying a home.
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May 21, 2008
Press Release by Alan Olson, Broker/Owner
Alan Olson, Broker of Century 21 Vista, Inc. announced today that Century 21 Vista agent Jon Drews has achieved his Broker Associate license. "Jon has worked tirelessly these last two years to achieve his Broker's License, a feat that very few realtors realize." This was done by 2 years of high level service to his clients, receiving a high level education and passing the expert Broker's exam.
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May 20, 2008
Press Release by Alan Olson, Broker/Owner
Alan Olson, Broker of Century 21 Vista, Inc. announced today that 3 more agents in the Century 21 Vista, Inc. team have been awarded the prestigious Certified Residential Specialist Designation (CRS) by the National Association of Realtors. They are Pat Johnson, Connie Caspers and Jon Drews.
Realtors who receive the CRS Designation have completed advanced courses and have demonstrated professional expertise in the field of residential real estate. Fewer than 38,000 realtors nationwide have earned the credential.
Home buyers and sellers can be assured that CRS Designees subscribe to the strict realtor code of ethics, have access to the latest technology and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.
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May10, 200
OTTER TAIL COUNTY LAKESHORE SALES ARE GROWING, by Alan Olson, Broker
Your home is not just a home anymore, it's an investment and for most of us, it is the largest investment we will every make. That can be scary.
However, countrary to the informaiton we are all bombarded with daily, it is still a great investment. According to information available from local multiple listing services records, if you purchased a lake home in 2002, the rate of return per year is 6.68%, way more than returns on CD's.
One of the greatest financial aspects of buying a home is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $150,000 home with 20 percent down, you leveraged the $30,000 down payment to purchase an asset worth 5 times that amount. The benefits of leverage really become apparent with appreciation, or the rise in value of a property. If you take the same $150,000 and the property values in your area were to rise an average of 3% a year, your home would then be worth almost $175,000 in just 5 years.
In addition to the 20% down, you'll also have to make mortgage payments. But with each payment, a certain amount of money is being used to pay down the principal balance that you owe. This is called building equity.
So in the event you sell your house, not only can you realize a profit from your leveraged money, you also have a chance to pay yourself back for the money you've put in over the years. No wonder so many people consider a lake home an excellent investment.
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April 7, 2008
Press Release by Alan Olson, Broker/Owner
Century 21 Vista Sales Professionals Lauded for Excellence in Area of Customer Service.
Realizing that customer service is an integral part of its commitment to professional excellence, Century 21 Real Estate LLC has recognized Andrew Olson, Gay Folden, Scott Norton, Michelle Pearson and Tom Verhelst of Century 21 Vista, Inc. with the Century 21 Quality Service Producer Award.
This national award is presented annually to those Century 21 System members who receive a minimum satisfaction index of 85 percent. Surveys are emailed to all customers immediately after the purchase or sale of a home through a Century 21 System office.
"The Quality Service Producer Award is an integral part of the Century 21 System's commitment to excellence and recognizes these agents's dedication to contonuously exceeding the service expectations of clients," said Alan Olson, Broker. "Only 8% of agents nationally achieve this service level."
Century 21 Vista, Inc. is a full service brokerage located at 405 W Lincoln, Fergus Falls, MN specializing in residential, luxury, commercial and recreational properties.
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March 26, 2008
Press Release by Alan W. Olson, Broker/Owner
Three Receive Centurion Award from Century21 System
Tom Verhelst, Michelle Pearson and Alan W. Olson, Broker/Owner of Century 21 Vista, Inc. recently earned the Century 21 System's Centurion Producer Award for their continuous sales success.
The Centurion Producer Award honors Century 21 System sales associates who sell in excess of 7 million dollars in real estate within a calendar year. Only 2% of all Century 21 agents worldwide achieve this award. These agents were presented with a Centurion Award statue and lapel pin, in addition to being recognized at the Century 21 System's International Convention in Orlando, Florida.
"Tom, Michelle and Alan have over 70 years of combined experience in the real estate industry and are leaders and innovators in delivering powerful home buying and selling choices to their clients because they are so knowledgeable about the communities they serve," said Barb Ecker, Office Manager. "These agents area a valued and trusted resource for the Fergus Falls community and major contributors to the overall success of Century 21 Vista."
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March 11, 2008
Press Release by Alan Olson, Broker-Owner
“BUSINESS AS USUAL” IN
In One Local Market, Broker Says Real Estate Business Is Stable
Orlando,
“It’s pretty much business as usual. Sales are quite good,” said Alan Olson, a veteran Century 21 Broker, from the Century 21 International Convention in
Being 180 miles northwest of the Twin Cities, “we’re somewhat isolated from the big swings both up and down because we’re a rural area and quite stable.” Olson said in describing why his particular area is faring well. “We haven’t had huge inflation and consequently we don’t lose a lot either.”
Olson, a self-described Pollyanna, echoed what many other real estate experts have said, namely that if a person is willing to sell their home for a “bit less” than they thought it was worth, there are plenty of bargains to be had. Someone selling in
But Olson acknowledges that in many regions of the country the real estate market is not as vibrant as his. “There are areas that are suffering and areas that are booming,” he said. “It’s strictly local,” saying
In fact, Olson sees another profitable year for his business. “From what I’ve seen in the last 4 months, our market is going to grow, he said. “I feel I’ll be looking at another ten to 15 percent increase in 2008”.
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February 26, 2008
Press Release by Alan Olson, Broker-Owner
Kurt Nygaard Joins Century 21 Vista, Inc.
Alan Olson, Broker-Owner is proud to announce that Kurt Nygaard has joined the sales staff of Century 21 Vista, Inc.
Kurt has 19 years of sales and business experience in this area. Kurt and his family are life-long residents of the community and realize the neds of area home owners.
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February 13, 2008
Press Release by Alan Olson, Broker-Owner
Local Century 21 Agent Earns e-Pro Certification
Alan Olson, Broker/Owner of Century 21 Vista, Inc. announced today that Michelle Pearson, Century 21 Vista, Inc. agent successfully completed the e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered by the National Association of Realtors.
The e-PRO certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools to assist customers in the purchase or sale of a home.
With more than 82% of consumers beginning their real estate career on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today's buyers and sellers.
"The real estate industry has undergone a fundamental chagne technology-wise over the past several years," said Alan Olson, "and Michelle Pearson is one of the first Otter Tail County real estate agents to have the training to meet the needs of those changes."
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February 7, 2008
Press Release by Alan Olson, Broker-Owner
Tim Moore Has Joined Century 21 Vista, Inc.
Alan Olson, Broker-Owner at Century 21 Vista, Inc. announced today that Tim Moore has joined their team of Realtors. "Tim will be a real asset to our office in Battle Lake, Ottertail and Fergus Falls", Olson said, "having lived in between all 3 in Underwood all his life". Tim has 30 years of sales experience, the last 6 in real estate as a Top Producer.
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January 4, 2008
Press Release by Alan Olson, Broker-Owner
LOCAL CENTURY 21 VISTA AGENT EARNS e-PRO CERTIFICATION
Alan Olson, Broker/Owner of Century 21 Vista announced that Kevin Hennagir, Century 21 Vista agent has successfully completed the e-PRO course to become one of a select few real estate professionals to earn the prestigious certification offered by the National Association of Realtors.
The e-PRO certification course is an educational program unlike any other professional certification or designation course available, comprehensive and interactive. It is specifically designed to provide real estate professionals with the technology tools to assist consumers in the purchase or sale of a home.
With more than 82% of consumers beginning their real estate research on the Internet, e-PRO certified agents have the experience and expertise to meet the demands of today's buyers and sellers.
"The real estate industry has undergone a fundamental change technology-wise over the past several yhears," said Alan Olson of Century 21 Vista, "and Kevin Hennagir is the first Otter Tail County real estate agent to have the training to meet the needs of htose changes."
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December 2007
Press Release by Alan Olson, Broker-Owner
REAL ESTATE SALES OF LAKESHORE HOMES STABLE
"A resurgence of lakeshore sales this fall has brought total lakeshore sales back to 2006 levels," according to Alan Olson, Broker of Century 21 Vista. Lakeshore sales had fallen behind 2006 levels by summer's end, but as of December 1st, sales caught up with 2006. "Lower cost lake homes have sold well this fall, according to Olson, with the average sale price dropping from $286,682 last year to $257,375 this year."
We are seeing the trend of buyers and sellers of lake homes negotiating more aggressively as most lakeshore buyers are from metro markets where both sales and prices have dropped. The outlook? "We at Century 21 Vista finished our year up 6%. I see no reason for the trend to change", said Olson.
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November 12, 2007
Press Release by Alan Olson, Broker-Owner
REAL ESTATE SALES STABLE
National averages do not reflect market conditions for real estate in Otter Tail/Grant county anymore than average national temperatures reflect our average temperatures! While the headlines blare REAL ESTATE SALES ARE DOWN, the sales in Otter Tail/Grant county continue to be identical to last year. "In fact, we at Century 21 Vista just ended our fiscal year with an increasein sales of 6%," according to Alan Olson, Broker/Owner of Century 21 Vista.
The headlines do have an upside for our local area real estate sales, however, in that as a result of a lack of consumer confidence in the state of Minnesota, we have a good supply of homes for sale. And, that lack of confidence has also put downward pressure on pricing. Lower prices and inventory is what consumers want. "It is a very good time to buy and sell real estate here," according to Olson.
Tom Kunz, President and CEO of Century 21 international, stated in San Juan, Puerto Rico on October 22, 2007 to a select group of Brokers at which Alan Olson was present that we now have the best inventory and value in years, low mortgage interest rates, low unemployment and increased incomes of 3-4%. It is those key factors, according to Olson, that has kept the Otter Tail/Grant county real estate sales so stable.
The outlook: sales to year around residents will continue to be strong. Sales of property to non-year around residents will be affected by national trends.
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November 6, 2007
Press Release by Alan Olson, Broker/Owner
BOARD OF DIRECTORS SELECTS RYAN HANSON
Broker/Owner Alan Olson is pleased to announce that Ryan Hanson has been selected to represent the Lake Region Association of Realtors on the Board of Directors for the Minnesota Association of Realtors. The MAR provides a wide range of services to its members who are involved in real estate transactions and is the largest business trade association in Minnesota with over 24,000 members. Ryan is a Broker Associate with Century 21 Vista and specializes in residential and lakeshore property sales.
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October 22, 2007
Press Release by Alan Olson, Broker/Owner
OTTER TAIL AND GRANT COUNTY FIGHTS THE TREND
Headlines in Minnesota metro newspapers have stated that Real Estate sales are way down. In fact, the Minnesota Association of Realtors is recommending some specific business practices that can help.
According to Otter Tail and Grant County Multiple Listing Services statistics, real estate sales are on par with last year for the previous 12 months in this area. The public does not know that, however, because it's mostly bad news from the metro areas that is reported. Consequently, buyers are expecting deep discounts or concessions due in part to the headlines. The Minnesota Association of Realtors is advising Minnesota Realtors and their customers that:
1. housing must either go on sale or be taken off the market in order to reduce inventory which will spur demand and
2. buyers ARE being realistic in their offers.....it is many sellers who do not understand that we are in a falling market and selling in this market means getting perhaps 10% less price now is better than 20% less next spring.
In spite of that metro doom and gloom attitude, home sales have been very good this year in Otter Tail and Grant counties which in part has been due to great selection. Buyers and sellers who have consummated a sale/purchase have demonstrated good home preparation and good negotiating practices.
The future?? Buyers and sellers - continue to be aggressive!
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September 26, 2007
Press Release by Alan Olson, Broker/Owner
SALES UP IN OTTER TAIL/GRANT COUNTY
Alan Olson, Broker/Owner of Century 21 Vista reported today that real estate sales in Otter Tail and Grant County are up 5%. The information is taken from the Lake Region Multiple Listing Service for the last 10 months, compared to a year ago.
Most significant is that residential home sales are up 7% while the sales of lake homes are down 13%. In addition, according to Olson, residential average sale prices have risen 9-10%, while lake home and cabin average sale prices are 6% less than last year. Average sale prices are as follows:
Property Type Last 10 months Preceding Year
Rural Residential $154,195 $138,943
Residential $109,548 $100,242
Lake Homes $256,096 $272,593
When asked why the increase in sales and sale prices in Otter Tail/Grant County, Olson stated "Our area is a very desirable place to live and work. Real estate taxes are less than in many areas, we have an abundance of water and forests and good jobs are available. Also, when the housing economy appears to slump, the people who could have purchased more expensive homes last year still can and are buying this year, which allows for higher priced homes to sell."
Century 21 Vista is up a full 10% in sales volume over the last year. Olson said there are several factors responsible:
"When the real estate market appears to slump, clients make the move to do business with full service, full-time agents and full service real estate companies as they become concerned that it takes more than mere supply and demand to buy and sell real estate in tougher market conditions."
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August 8, 2007
Press Release by Alan Olson, Broker/Owner
REAL ESTATE SALES UP
Home sellers in Otter Tail County are experiencing average to strong demand by purchasers for their families. Sales for the9 months ending July 31, 2007 compared to last year are up, according to Alan Olson, Broker of Century 21 Vista. Multiple listing service statistics show that sales of both rural homes and homes in cities and town in Otter Tail County have increased about 12% in dollar volume.
Century 21 Vista sales with 4 area offices and 20 full-time agents are up slightly higher with a 17% increase in sales. This is contrary to reports from large cities around the nation and the twin cities of Minneapolis/St Paul.
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May 4, 2007
Press Release by Alan Olson, Broker/Owner
CENTURY 21 VISTA SALES PROFESSIONALS LAUDED FOR EXCELLENCE IN AREA OF CUSTOMER SERVICE
Realizing that customer service is an integral part of its commitment to professional excellence, Century 21 Real Estate LLC has recognized Tom Verhelst, Alan Olson, Ryan Hanson, Michelle Pearson, Pat Johnson and Andrew Olson of Century 21 Vista with the Century 21 QUALITY SERVICE PRODUCER AWARD.
This national award is presented annually to those Century 21 system members who receive a minimum satisfaction index of 85%. Surveys are emailed to all customers immediately after the purchase or sale of a home through a Century 21 system office.
"The Quality Service Producer Award is an integral part of the Century 21 System's commitment to excellence and recognizes these agents' dedication to continuously exceeding the service expectations of clients," said Alan Olson. "Only 8% of agents nationally achieve this service level."
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April 19, 2007
Press Release by Alan Olson, Owner/Broker
CENTURY 21 VISTA REALTORS RECOGNIZED
Michelle Pearson, Scott Norton, Ryan Hanson and Robert Veland earned Masters Awards for 2006 sales production. Century 21 Corporation recently recognized these Realtors as some of the system's Top Producers nationwide when it honored them with the system's coveted Emerald and Ruby level Master's Awards.
"These agents utilized their real estate wisdom and passion for life in their everyday business, helping to make clients more comfortable with the real estate transactions as they make what may be the most significant purchase of their lives," said Alan Olson, Broker/Olson of Century 21 Vista. Michelle, Scott, Ryan and Robert are valued and trusted real estate resources and are major contributors to the overall success of Century 21 Vista and the Century 21 System as a whole".
Century 21 Vista is a full service real estate brokerage company specializing in residential, lakeshore, agricultural and commercial properties and lots in west central Minnesota and Wahpeton, North Dakota. Offices are located in Fergus Falls, Battle Lake and Ottertail, Minnesota and Wahpeton, North Dakota.
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April 15, 2007
Press Release by Alan Olson, Broker/Owner
CENTURY 21 VISTA AGENTS RECEIVE DESIGNATION WITH THE WORLDWIDE RECREATION AND RESORT SALES COUNCIL
Judi Olson, Scott Norton, Jon Drews, Pat Johnson and Connie Caspers of Century 21 Vista have successfully completed the qualifications for the RRS "Recreation & Resort Specialist" designation awarded by the Worldwide Recreation and Resort Sales Council. RRS is the first designation earned exclusively by Realtors working in the recreation, resort and 2nd homes market.
These agents have completed a comprehensive course which focuses on the unique needs and practices of recreation and resort property sales and management. By receiving the title of "Recreation and Resort Specialist" it will be possible for them to share information with an increased nationwide network of Real Estate professionals, allowing them to better serve clients and customers.
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April 5, 2007
Press Release by Alan Olson, Broker/Owner
FOUR RECEIVE CENTURION AWARD FROM CENTURY 21
Tom Verhelst, CRS, Gay Folden, GRI, Alan Olson, Broker/Owner and John Olson, CCIM recently earned the Century 21 System's Centurion Producer Awards for their continuous sales success.
The Centurion Producer Award honors sales associates who sell in excell of 7 million dollars in real estate within a calendar year. Only 2% of all Century 21 agents worldwide achieve this award. These agents were presented with a Centurion Award statue and lapel pin, in addition to being recognized at the Century 21 System's International Convention in Las Vegas, Nevada.
"Tom, Gay, Alan and John have over 100 years of combined experience in the real estate industry and are leaders and innovators in delivering powerful home buying and selling choices to their clients because they are so knowledgeable about the communities they serve," said Barb Ecker, Office Manager. "These agents area a valued and trusted resource for the Fergus Falls community and major contributors to the overall success of Century 21 Vista."
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April 3, 2007
Press Release by Alan Olson, Broker/Owner
TOM VERHELST RECORDS STRONGEST JANUARY IN THE GREAT NORTH REGION
Century 21 Real Estate LLC recently named Tom Verhelst as the Top Producing Century 21 agent in the organization's Great North Region. "The success Tom achieved in January and continues to accomplish is very exciting," said Alan Olson, Broker/Owner of Century 21 Vista. "Tom is a consistent 30 year leader in real estate sales in the Fergus Falls area."
The Great North Region of the Century 21 System includes more than 100 independently owned and operated Century 21 franchise offices operating in Michigan, Minnesota, North Dakot, South Dakota and Wisconsin. Only 2% of Century 21 agents produce at Verhelst's level.
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March 30, 2007
Press Release by Alan Olson, Broker/Owner
JUDI OLSON HAS BEEN AWARDED THE CERTIFIED RESIDENTIAL SPECIALIST DESIGNATION BY THE COUNCIL OF RESIDENTIAL SPECIALISTS.
Judi Olson has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors.
Realtors who receive the CRS Designation have completed advanced courses and have demonstrated professional expertise in the field of residential real estate. Fewer than 38,000 Realtors nationwide have earned this credential.
Home buyers and sellers can be assured that CRS Designees subscribe to the strict Realtor code of ethics, have access to the latest technology and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.
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March 8, 2008
Press Release by Alan Olson, Broker/Owner
CENTURY 21 VISTA RECORDS STRONGEST JANUARY IN THE FIRM'S 30 YEAR HISTORY
Further validating the value of real estate servcies that it provides area home buyers, sellers and investors, Century 21 Vista announced today that in January 2007 sales were the highest on record for the company during its 30-year history. In addition to their great start in 2007, Century 21 Real Estate LLC recently named Century 21 Vista as the top-producing Century 21 company in the organization's Great North Region. "The success that Century 21 Vista achieved in January and that we continue to see so far in 2007 is very exciting," said Alan Olson, Broker/Owner of Century 21 Vista. "Our seasoned team of real estate professionals are leaders within the real estate community and are committed to engaging consumrs and educating them about the real estate process so that they can make informed real estate decisions."
In addition to a dedicated and experienced sales staff, Olson credits much of the company's recent success to a special promotion that it offers all consumers who either buy or sell a home through Century 21 Vista. "Through our affiliation with Century 21 Real Estate LLC, we are able to offer clients a free seven-night resort vacation at one of more than 3,900 global locations," said Olson. "This promition has been well received by our clients and is seen as a very positive added-value to doing business with Century 21 Vista."
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