LUBBOCK ®
REALTOR www.lubbockrealtors.com
JANURARY 2014
Phone (806) 795-9533 Fax (806) 791-6529 5015 Knoxville Avenue, Lubbock Texas 79413-4039 2014 Board Officers
NOVEMBER MONTHLY MARKET COMPARISON
Nancy Rawls, President Rusty DeLoach, President Elect Charles Kearney, Treasurer
Categories
Nov 2012
Nov 2013
Percent Change
Total Residential Property Sales
256
251
-2.0%
Total Residential Dollar Volume
$38,797,374
$37,509,911
-3.3%
Jef Conn, Secretary Coby Crump, Chairman of the Board
Average Single-Family Sales Price
$151,552
$150,824
-0.5%
DIRECTORS Cynthia Arriaga , 2013—2014
Median Single-Family Sales Price
$122,500
$128,000
4.5%
Leigh Anne Brozo, 2014—2015
Total Active Residential Listings
1,400
1,240
-11.4%
Vanessa Dirks, 2014—2015
Total Pending Residential Sales
200
185
-7.5%
Frank Harmon, 2013—2014
Months Inventory*
5.2
3.7
-28.8%
Jacky Howard, 2013—2014 Larry Jones, 2014
*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.
Tara Newton, 2014—2015 Nathan Jordan, 2014—2015 Jeff Sellers, 2014—2015
Year-to-Date Comparison Categories
Jan-Nov 2012
Jan-Nov 2013
Percent Change
Susan Shakespeare, 2014—2015
Total Residential Property Sales
3,203
3,914
22.2%
Dan Williams, 2013—2014
Total Residential Dollar Volume
$473,782,205
$596,179,365
25.8%
Jana Wuthrich, 2013—2014
Average Single-Family Sales Price
$147,918
$154,242
4.3%
EX OFFICIO DIRECTORS Ann Kearney, 2014-2016 TAR
Median Single-Family Sales Price
$119,950
$125,530
4.7%
Director John Walton, TAR Director Lifetime
No ce on this informa on: Mul ple Lis ng Service data is reported to the Real Estate Center at Texas A & M and the Na onal Associa on of REALTORS® on the eighth of each month. Year-to-date data may be corrected for informa on reported a(er the eighth. Neither the associa on nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the associa on or its MLS may not reflect all ac vity in the real estate market.
Listings on the Internet Now Powered Through ListHub ListHub is a new MLS member benefit that automatically sends your brokerage’s listings to over 50 major consumer search websites. This service is provided at no additional cost to brokers and agents. ListHub provides a way for brokerages to manage their online marketing strategy like never before. As part of the ListHub system, agents and brokers have access to powerful reporting features you can use to inform and impress your sellers about where their listings are getting the most attention. CREATE YOUR FREE LISTHUB ACCOUNT By registering for an account, you can access tools to customize your listing syndication, receive educational resources, technical support and much more. 1. Visit www.ListHub.com 2. Click “Create Account” on the top right 3. Complete the online form Page 1
4. Brokers: Select Publishers in the “Marketing Choices” tab 5. Agents: You may view the broker-selected Publishers in the “Marketing Choices” tab Reporting features let you analyze how your listings perform across sites like Zillow, Trulia, realtor.com and dozens more. Reports can be customized and branded for you specifically. Use reports to: • Price a listing to sell or discuss a price reduction • Generate referrals • Focus precious advertising dollars where they
count Reports can be purchased by brokers or agents for a low monthly or annual fee.
MEMBER NEWS Total Members 834 (+ (+4% from projected membership) 174 Companies │ 657 Salespersons Membership Applications Companies Charles Young
Madera Residential LTD, Designated Broker
Andy Hackney
Hackney Appraisal Service
Salespersons Christine Garrett
Paul Garrett, REALTORS®
Amanda Ferrell
Amy Tapp Realty
Jessica Price
Keller Williams Realty
Craig Cummings
Keller Williams Realty
LEARN MORE Check out quick tutorials and educational videos on Amy Harlien the ListHub YouTube Channel. Joe Hall For questions for for more information, call or email Alayna Abbe the association’s ListHub Account Manager, Lauren Justin Backus Hill at 877-847-3394 ext. 748 or email lauren.hill@listhub.com. Mary Beth Granzow
Dannheim Realty Jerry Kitten, Broker Jerry Kitten, Broker The WestMark Companies 1st Estate Real Estate
Melinda Rodriguez
Novus Real Estate
Jill Carey
Kauffman & Humphreys Real Estate
Gary Andrews, Jr.
GRACO Real Estate Development
Brian Britton
Coldwell Banker Rick Canup, REALTORS®
Melissa Workman
Real Living Greg Garrett, REALTORS®
Rhudy Maskew
RE/MAX Lubbock
Edward De La Cerda
Coldwell Banker Paxton Real Estate
Jeremy Reed
McDougal, REALTORS®
Business Partner Applications Allstate—Paul Willems Insurance Agency—Ilona Downey, representative Capital Farm Credit—Clint Robinson, representative
Membership Cancellations Designated REALTORS® - Brokers/Offices Charles Wynn
Charles Wynn Real Estate
Duane Mattison (deceased)
West Texas Realty
Dub Harris
H.M. Real Estate Services (continued on page 3)
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Membership Cancellations (continued) Salespersons
AFTER YOU SHOW…
Austin Davis
Keller Williams Realty
Rachel Fernihough
Coldwell Banker Rick Canup, REALTORS®
Bayley Mitchell
The WestMark Companies
Aaron Cannon
The WestMark Companies
Michelle Elliott
Keller Williams Realty
New MLS Features
Laura Kender
Real Living Hometown, REALTORS®
Omar Maqusi
The WestMark Companies
If you haven’t heard about or seen the latest enhancements to the RapattoniMLS, here’s how the system is getting better.
Wilson Alplanalp (deceased)
Coldwell Banker Rick Canup, REALTORS®
Renita Freeman
Today in Lubbock Real Estate
Cuyler Lawrence
McDougal, REALTORS®
Joe Webb (deceased)
Berkshire Hathaway Home Services
Jane Stephens
Stephens Realty
Reb Baker
Premier Lubbock Lance Harris, REALTORS®
Bonnie Goodrich
Keller Williams Realty
Jimmy Don Rothwell
RE/MAX Lubbock
David Thetford
The WestMark Companies
Alex Orr
Scarlet Matador Realty
Nick Jones
JMC Realty
Emily Peterson
King Realty
Sandra Blocker
Berkshire Hathaway Home Services
Corey Zant
Progressive Properties
Kalah Sprabeary
The WestMark Companies
Kent Moore
McDougal, REALTORS®
Adam Cavazos
Keller Williams Realty
Michelle Craig
Keller Williams Realty
Ellen Phillips
Make sure you’ve left a business card, turned the lights off, readjusted the thermostat back to where it was, and most important—MAKE SURE IT’S LOCKED UP!
New ‘Find Comparables’ Feature on Listing Detail MLS users can now quickly search for comparable listings from any Listing Detail page with just one click of the ‘Find Comparables’ button. This powerful new feature automatically runs a radius search against the selected listing’s address using default criteria adjustments which can be easily modified using the new Find Comparables Setup feature. The selected subject property will automatically be highlighted at the top of the results, and you can even run a CMA Package that will automatically pull the subject property’s data.
New and Improved Picture Upload System The new Picture Upload Tool allows the user to drag and drop multiple pictures for quick and easy uploading. The Picture Uploader opens in a new tab so you can multi-task in the MLS while your pictures upload. The number of pictures which may be uploaded at one time has been increased to support the maximum number allowed per listing on your MLS site. You can also crop, rotate and delete pictures with this intuitive picture upload tool.
Multiple Listing Carts for the Desktop and Mobile MLS
Multiple Carts are now here! You can create as many different Carts as you like as well as rename The WestMark Companies them and move listings between the Carts. New (continued on page 4) Carts created in either the desktop or mobile interface can be accessed from both versions of
the MLS.
Mobile Enhancements The Mobile interface has been enhanced with a field-centric search in addition to the existing map-centric searching capabilities. A new quick search has also been added to the Mobile interface allowing users to search by Address, ZIP Code, or Listing Number, with an additional ‘Center Map’ option and support for Recent Searches.
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TAR Legal— Legal—Could a late earnest money check put your buyer in default?
REALTORS® on the Move
When should I deposit earnest money?
Josh Allen
Real Living Greg Garrett, REALTORS® to Keller Williams Realty
Buyers should deposit earnest money as soon as possible after the contract is effective. Failure to deposit earnest money in a timely manner could result in the buyer being in default. The obligation of the buyer to deposit earnest money upon execution of the contract applies to all contracts, including contracts that have an attached Short Sale Addendum or Addendum for Back-Up Contract.
Mark Murray
Real Living Greg Garrett, REALTORS® to Keller Williams Realty
Meredith Trevino
Colwell Banker Rick Canup, REALTORS® to Keller Williams Realty
Monique Carabajal
Real Living Hometown, REALTORS® closed office, transferred to Real Living Greg Garrett, REALTORS®
Roberta Beam
Real Living Hometown, REALTORS® closed office, transferred to Real Living Greg Garrett, REALTORS®
Sharon Lee
Coldwell Banker Paxton Real Estate to The WestMark Companies
Deborah Scott
Keller Williams Realty to Kauffman & Humphreys Real Estate
Gwen Wallich
Exit Realty of Lubbock to Real Living Greg Garrett, REALTORS®
Cheryl Kidd
The WestMark Companies to Kearney & Associates, REALTORS®
Abby Louder
Real Living Greg Garrett, REALTORS® to Payne Family Realty
Phillip Gonzales
Real Living Greg Garrett, REALTORS® to Keller Williams Realty
Lucia Huff
Eve Darling Realty to Wolfforth Real Estate
Ben Scarborough
Century 21 John Walton, REALTORS® to Elite Real Estate Partners
Emma Bauersfeld
Kauffman & Humphreys Real Estate to Berkshire Hathaway Home Services
Rhonda McClellan
Century 21 John Walton, REALTORS® to McDougal, REALTORS®
Paragraph 5 of the Texas Real Estate Commission's contracts says that the buyer shall deposit the earnest money with the escrow agent upon execution of the contract. The deposit of earnest money is a buyer obligation once the contract is effective. Like most performance obligations in the contract, time is not "of the essence." Therefore, the buyer has reasonable time after the contract is executed by all parties to deposit the earnest money. "Reasonable time" depends upon the circumstances and could be decided by a judge or jury if there were a dispute over it. Find more legal FAQs in the Legal FAQs section of TexasRealEstate.com.
Property Investors and Managers Webinar
Date: Wed, February 19th Time: 10—11:00 AM Cost: Free MCE hours: 1 The Property Investors and Managers Committee hosts this one hour webinar that will discuss the new and updated leasing and property management forms which became effective January 1, 2014. Learn about the changes to the forms and get answers to your most frequently asked questions. This session is open to all levels of experience. Members with just one investment property are encouraged to attend.
Other Changes Debra Thomas, Larry S. Jones Real Estate, name change to Dedra Hardy David Pritchett, Keller Williams Realty, change to non-MLS member Chris White, Chris White, REALTORS®, change to non-MLS member
What is “get real”? It’s a new campaign REALTOR members can use to help their clients understand what it means to be a REALTOR and the value you bring in helping them realize their dreams! Use these “push cards” in your listing presentations, include them in your mail outs, make them available in your office, and any other way you’d like to get them in the hands of your clients, friends, family and more. These free cards are available at the LAR office and at the monthly LAR luncheons. Pick them up the next time you’re in the office!
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PRIME BUSINESS PARTNERS Thank you for making our banquet possible! American National Bank City Bank Mortgage Happy State Bank Prime Lending PrimeWest Mortgage Prosperity Bank Mortgage Texas Tech Federal Credit Union ELEMENT Entertainment for the evening courtesy of
PHOTO BOOTH Courtesy of
Fidelity National Home Warranty PrimeWest Mortgage Stewart Title
First American Home Buyers Protection
To view pictures from the event, go to http://crazypicsphotobooth.com/#/page/home/
The sign in name is: lar The password is: lar2014
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