Have you ever wanted to easily find the CENSUS data for a particular zip code?  How about the demographics? How about information on schools in a particular area?  I came across a neat site that pulls it all together with info, charts, graphs, and comparison reports.

The site is http://zipskinny.com and you can search by city or even more easily by just entering a zip code.  I entered my Bradenton, Florida zip code and this is the first page of the info.  Note the tabs and the wealth of information provided.

If you are thinking of moving to Bradenton, Florida click here to see a zip code map of Manatee and Sarasota Counties.

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)

Who determines the selling price of a home? Is it the Realtor, the seller, or the buyer? Or, is it the market?

Back in 2004-2005 our Bradenton real estate prices were were increasing 30-35% a year. People were actually complaining that Realtors were driving the prices UP.  Fast forward to 2008. Now that our prices have declined 30%, people are complaining that Realtors are driving the prices DOWN.

Does the Realtor Determine the Price?
Some consumers have the idea that it’s the Realtor that determines the price for which a home sells. As a professional Realtor, I know that idea is wrong. Realtor’s consult Sellers when a home is listed and recommend a price that it appears the market will bear. The Seller determines the price he/she wants to ask and the Realtor decides whether or not he/she will take the listing at that price.

Does the Seller Determine the Price?
I often have sellers say, “I’m not going to give my home away. I know it’s worth $350,000 and I won’t sell it for a dime less.” This type of rhetoric would have you believe that it’s the seller that determines the price for which a home sells. Again, as a professional Certified Residential Specialist, I know that idea is wrong. The Seller may WANT that price, but they may not GET it.

Does the Buyer Determine The Price
Buyers have said to me, “That home isn’t worth the $350,000 the seller is asking. I won’t pay a dime over $300,000. The buyer assumes he or she can determine the selling price. Once again, I know that idea is also wrong. The buyer may WANT to buy that home for $350,000, but he/she may not GET it.

So, who sets the selling price of a home? Is it the Realtor, the seller, or the buyer? Arguments could be offered regarding all three. But the truth is it’s the MARKET that sets the price.

What is MARKET VALUE?

Residential Appraisers Institute defines market value as…

“The most probable price which a property should bring a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed advised, and each acting in what he considers his own best interest: (3) a reasonable time is allowed for exposure in the open market: (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* by anyone associated with the sale.”

Investorwords.com defines market value as…

“The price that an interested but not desperate buyer would be willing to pay and an interested but not desperate seller would be willing to accept on the open market assuming a reasonable period of time for an agreement to arise.”

My job as a Realtor is to help buyers and sellers understand market value by providing competent research of our local market. I am good at what I do, but I don’t control the market, I only interpret it.
Someone once said, “The market may not be kind, but it is never wrong.”

In other words, your home is worth not what I think it is, nor what you think it is, but only what the market says it is.

My Realtor friend, Missy Caulk says this to Sellers when listing their home, “The seller sets the price of the home, but ultimately the buyer determines the value. My job is to supply you with the facts about what has sold recently and what is now for sale to help you make a decision.” That’s good advice.

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)

From a child we are told to study hard, so that we’ll get good grades.  We are told to get good grades so that we can graduate.  We are told to graduate from both high school and college so that we’ll get a good job.  We are told to get a good job so that we can buy a big house and a nice car.  On and on it goes as we are told to do one thing after another to get something else.

Is this what life is really about? Having goals is certainly important and I believe everyone should have them.  But the real thrill in life isn’t in the accumulation of things, but in the process of living life itself to the fullest.  The master knows this secret.

The master knows that life isn’t one Superbowl game after the other.  In fact, the life of mastery is largely spent on the plateau.  The plateau is the place of boredom, repetition, and practice. It is where we develop skills and sharpen our tools.  It is the hard stuff that soon will propel us to the next level.

George Leonard in his book Mastery tells the story of Olympic gymnast Peter Vidmar who said,

“A lot people go for things only because a teacher…or their parents told them they should.  People who get into something for the money, the fame, or the medal can’t be effective.  When you discover your own desire, you’re not going to wait for other people to find solutions to your problems. You’re going to find your own. I set goals for myself, but underlying all the goals and the work was the fact that I enjoyed it. I thought gymnastics was fun. And I had no idea that I might someday be an Olympian”

* If you love what you do in life and find great joy in the daily routine of it, you are on the path of mastery.
* If you love who you are and find life exciting, fun, and challenging, you are on the path of mastery.

Learning to love the plateau is learning to love life itself.

Next week we’ll look at The Five Secrets of Mastery.

(This series is inspired by my reading journal of the book “Mastery: The Keys To Success And Long-Term Fulfillment” by George Leonard.)

If you want to join me on the path to mastery please subscribe to my blog and join me next Monday. 

“We are going to see the collapse of the condo market, both in Manatee and Sarasota counties (Florida),”

said Hank Fishkind.  Hank is a Florida economist and his opinion is quite sought after.  Once a year he speaks to our local Chamber of Commerce, but this meeting was a Lakewood Ranch last Friday to a gathering of about 300 people.

Fishkind expects very slow growth in 2008.  Perhaps 1 to 2 percent at best. Yet, he predicted that our area has reached the bottom in terms of depreciating home prices and surplus inventory.  He expects the climb upward to begin soon.

Manatee and Sarasota counties are in favorable positions because of two nearby airports.  Namely, Tampa International and Sarasota - Bradenton International.  Also, the I-75 corridor runs down through both counties. And, then there’s the sunshine and the gulf beaches.

Manatee County was actually the second best Metro-market for all of Florida in December, as far as number of home sales.  We are seeing the surplus of inventory dropping and home prices stabilizing.  It does appear to be a great buying opportunity.

Want to know more about our Bradenton Florida real estate market?  Please pick up the phone and give me a call.

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)

Mastery is not a goal or a destination, but rather a process, or a journey.  It takes time, yet is available to anyone who is willing to get on the path and stay on it. Mastery is the journey to becoming the best that you can be in whatever endeavor you choose.The War Against Mastery 

By all appearances it seems that our society is waging a war against mastery. We live in the day of the “quick fix” and instant gratification.  Want a new wardrobe? Simply grab the credit card and you instantly have it. Need to lose weight, take this pill and lose fat while you sleep. Want to live the life of luxury? All you need to do is buy a lotto ticket. Have a headache? Take this pill for “fast relief.”

In fact, an ad for one state’s lottery showed a man laughing at people buying savings bonds while insisting the only way for an ordinary person to become a millionaire was to win the lottery.

The Path of Mastery 

In what are you striving for mastery? Is it your business? Is it your relationships? Is it your inner self? Hopefully, you haven’t succumbed to the idea that you can achieve mastery in the next 15 minutes. You do understand that mastery requires patience, dedicated effort, and the willingness to apply yourself for the long haul.

The path of mastery is no quick fix. Those who strive to be the best of the best choose it anyway. The rewards of mastery are worth it.

Next week we’ll look at Learning to Love the Plateau.

(This series is inspired by my reading journal of the book “Mastery: The Keys To Success And Long-Term Fulfillment” by George Leonard.)

(Copyright © 2008 By Dan Forbes, All Rights Reserved.)