What Does it Mean to be in a ‘Seller’s Market’?

According to the National Association of Realtors the inventory of homes for sale in our nation is still very low, while the demand of buyers continues to climb. The current housing inventory is sitting at just a 2 month supply, while a typical, “neutral” threshold is a 6 month supply. What does this mean for you if you’re thinking about selling? It means that due to the astonishingly low inventory and increase in competition amongst those looking to purchase, buyers must step up their game when it comes to submitting offers, putting more money in the pockets of home sellers.

In addition to the already high demand of buyers, mortgage interest rates are at an all time low – making it even more affordable and attainable for them to make their purchase dreams come to life. This makes the pool of buyers seeking a home even larger, while market inventory has continued stay low.

Overall, this has lead homes to appreciate, allowing sellers to get top dollar for their property in today’s competitive market. With the increase in competition, its common to see multiple offers, bidding wars and cash deals when possible. Therefore, now more than ever, its crucial to team up with an experienced real estate agent to help navigate this process, whether you’re looking to buy or sell! For more information about ERA Team VP or to connect with an agent, head to www.erateamvp.com.

ERA Team VP Agent Awards Luncheon

On Tuesday, March 8th, ERA Team VP Real Estate hosted an Agent Awards Luncheon at the Ellicottville Inn in Ellicottville, NY.  Realtors® from all ERA Team VP offices were present representing Ellicottville, Chautauqua County and all surrounding areas of the Southern Tier of New York State!  ERA Team VP Realtors received awards in various categories based on their hard work and production in 2010.

Some of our Award Winners - pictured in front of the Ellicottville Inn

Congratulations to all of the Realtors of ERA Team VP Real Estate.  Everyone worked hard to build and strengthen their businesses and we are looking forward to an even more successful and prosperous 2011!  We’re already off to a great start!

Check out this video for some of the highlights from the awards luncheon:
[youtube=http://www.youtube.com/watch?v=Ahw_fF15Dsw&tracker=False]

Here are our award winners recognized at the Agent Awards Luncheon:

Team Pritchard (Cathy & Melanie Pritchard) – Team Category
#1 Gross Commissions (Company Overall & Ellicottville Office)
#1 Closed Transactions (Company Overall & Ellicottville Office)
#1 New Listings (Company Overall & Ellicottville Office)

Karen Goodell
#1 Gross Commissions (Company Overall & Chautauqua County Office)
#4 Closed Transactions (Chautauqua County Office)
#5 New Listings (Chautauqua County Office)

Tina Dillon
#1 Closed Transactions (Company Overall & Ellicottville Office)
#1 New Listings (Company Overall & Ellicottville Office)
#3 Gross Commissions (Company Overall)
#1 Gross Commissions (Ellicottville Office)

Jane Grice
#2 Gross Commissions (Company Overall & Chautauqua County Office)
#4 Closed Transactions (Company Overall)
#2 Closed Transactions (Chautauqua County Office)

Mary Beth Holt
#2  Closed Transactions (Company Overall)
#3 New Listings (Company Overall)
#1 Closed Transactions (Chautauqua County Office)
#2 New Listings (Chautauqua County Office)
#5 Gross Commissions (Chautauqua County Office)

Linda Wolfe
#2 New Listings (Company Overall)
#1 New Listings (Chautauqua County Office)

Jeff Fellows
#3 Closed Transactions (Company Overall & Chautauqua County Office)

Greg Spako
#3 Closed Transactions (Company Overall)
#2 Closed Transactions (Ellicottville Office)
#4 Gross Commissions (Ellicottville Office)
#4 New Listings (Ellicottville Office)

Dale Sandberg
#4 New Listings (Company Overall)
#3 New Listings (Chautauqua County Office)

Amy DeTine
#4 Gross Commissions (Company Overall)
#5 Closed Transactions (Company Overall)
#2 Gross Commissions (Ellicottville Office)
#3 Closed Transactions (Ellicottville Office)
#3 New Listings (Ellicottville Office)

Wayne Reimondo
#5 Gross Commissions (Company Overall)
#3 Gross Commissions (Chautauqua County Office)
#5 Closed Transactions (Chautauqua County Office)

Andree McRae
#5 New Listings (Company Overall)
#2 New Listings (Ellicottville Office)
#5 Closed Transactions (Ellicottville Office)
#5 Gross Commissions (Ellicottville Office)

Sandy Goode
#3 Gross Commissions (Ellicottville Office)
#4 Closed Transactions (Ellicottville Office)
#5 New Listings (Ellicottville Office)

Becky Colburn
#4 Gross Commissions (Chautauqua County Office)

Wayne Weaver
#4 New Listings (Chautauqua County Office)

Special Awards:
Most Improved (at least doubled their production from the previous year)
Dale Sandberg (Chautauqua County Office)
Sandy Goode (Ellicottville Office)

Rookie of the Year (based on production of newest agents to the company)
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