Coldwell Banker Real Estate Ranked as Fastest-Growing Real Estate Franchise System by Entrepreneur Magazine

Entrepreneur Magazine recently ranked Coldwell Banker Real Estate LLC as the fastest-growing franchise among real estate companies for 2011 and the No. 14 fastest growing franchise in all business categories. Coldwell Banker Real Estate also was ranked No. 75 in the Entrepreneur 2011 Global Top Franchises list and No. 90 in the publication’s 32nd annual U.S. Franchise 500® rankings.

"In the midst of a challenging market, we are proud of our expansion and recognition as an ever-growing franchise," said Budge Huskey, president and chief operating officer for Coldwell Banker Real Estate LLC. "We're always moving, and that means forging new relationships and gaining presence in new markets, while empowering our existing franchisees and their sales associates with the tools they need to continue to succeed."

Among these tools is the recently released Coldwell Banker Managing Broker Academy, an online learning portal for managers and brokers. The newest tool provides videos, podcasts and social learning aids focusing on long-term educational planning and timely educational tools.

Additional training and ongoing support Coldwell Banker offers offices and agents includes:
• Intensive multi-day introductory training sessions offered at Coldwell Banker's headquarters and franchisee offices
• Diverse classes and continuing education programs available in person or online
• National and local advertising, including television, online and mobile
• Management conferences and regional training events
• Field operation evaluations
• Grand opening support
• Weekly newsletters

Entrepreneur’s 32nd Annual Franchise 500® report is based on its own proprietary rankings formula using financial and statistical data from July 2008 through July 2010. For more information on the rankings visit: http://www.entrepreneur.com/franchises/franchise500/about.html

For employment opportunities with Coldwell Banker Koetje Real Estate, please contact us at info@whidbeyrealestate.com

How's The Oak Harbor Real Estate Market (Part 2)

In my last post, I explained my answer to "How is the Market". As part of that answer, we must consider what effect the distressed homes are causing on values.  Because of the economic conditions in our country over the past few years, homeowners are losing their homes through foreclosure because of loss of jobs, changing terms of mortgages, inability to sell, etc. Foreclosed homes then sell at a price that is usually less than comparable homes in the market, driving down the prices of homes. Other homeowners that need to sell are experiencing another difficulty. Their home is worth less now than when they purchased it and they must sell at a loss. If they don't have the funds to make up the difference, then negotiations with the bank may allow them to sell short, or as is commonly called, a Short Sale. Short sales also have the result of causing prices to decline in the local area.  These are factors that have resulted in the way that I answer the question, How Is The Market.

North Whidbey Island 2010 Statistics for evaluating the effect of Distressed Home Sales:

•  Short Sales were 11.5% of the active listings and 5% of the sold listings.  Foreclosures were 9% of the active listings and 17.5% of the sold listings. 
• The average listing price range of the overall market was $263,000.  The median sales price of non-distressed homes was $250,000, Short Sales was $220,000, and Foreclosures was $160,000.
• The price per square foot for non-distressed sales was $150 per sq. ft., Short Sales was $124 per sq. ft., and Foreclosures was $112 per sq. ft.

Based on these statistics, it can be noted that a larger foreclosed home could be purchased for less money that a smaller non-distressed home. Also it can be noted that more Foreclosures were being purchased than Short Sales which will make the Short Sale homes probably result in Foreclosures.

With all of this being said, I do believe that prices have stabilized in our market. Over the next year, we will see some gyration of values but nothing like we have experienced in the last few years. It is still a great time to buy if you are a buyer, and if you are a seller that has owned your home for more than 5 years it is still a good time to sell. If you purchased your home within the last 5 years and don't need to sell, then I would recommend holding on to it if you can. Call us about Property Management if you need to leave the area. If you are still living in your home and just need more space, than maybe a remodel would be best for you. We know of some outstanding contractors that we would be happy to recommend to you. Whatever the situation is, I can assure you that home ownership is still "The American Dream".