Beware of Rearview Mirror Data

In these highly volatile times, interpreting data, and what it all means to real estate decisions can be a tricky and very expensive process if you don’t get it right.
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Almost 10 years ago, we started providing local community market updates which gave our subscribers and clients a look at much of the same data we used to provide our best advice as to which direction the market was taking. In the last couple years, the explosion of data has not only allowed us to offer more insight in that area, but also to begin looking at leading inindicator data like page views and showings.
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Many of our competitors attempt to copy this data, in fact this month, one of our local competitors copied our format in The Peninsula Navigator magazine, almost to the letter. While we’re flattered, we also believe that putting forth data is a vital function, and its our belief that nobody does a better job of interpreting what local data trends mean than we do at Ivester Jackson.
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This month, we once again put forth the importance of leading indicators versus “rear view mirror info”. Since late last year, we’ve felt that our local Lake Norman area fundamentals have been improving, and we’ve advised our clients in that light. However, since the July debt ceiling fiasco, activity in our area has been more sporadic and unpredictable. We still have solid pending contracts for this time of year, and lower distressed inventories, but the recurrent drama in DC can cause activity to slow, and we remain concerned that further stalemates and grandstanding will harm the fragile positive momentum of the past 9 months. Our September activity is lagging last year, yet we’ve not seen a decline in pending contracts, so the next 30 to 45 days will be interesting to watch.  Last year’s September was surprisingly solid in terms of activity, and that translated into solid results for the 4th quarter. The jury is out on this year’s 4th and next year’s 1st quarter, and they are likely going to be highly influenced by how our congress deals with the remaining deficit reduction issues. Quick and cohesive resolution with effective deficit reduction policy will have a very positive impact in our view. Bickering and grandstanding, lack of compromise, and ineffective actual reduction will likely have the opposite impact.nike air max trainer


September Snapshot

Some of the preliminary numbers are in for our September newsletter and the results are mixed.
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First, as we’ve commented many times, today’s market is way more sensitive to any amount of drama from Washington or Wall Street, and in late July and early August, we had both. One wonders if the ship wouldn’t be better off sailing itself sometimes.
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There was about a 3 week period around the debt negotiations in which people stood back and watched the spectacle. Once our fine leadership adjourned for vacation, the atmosphere gradually relaxed, and we began to see renewed real estate activity. As of this week, there are 65 luxury homes under contract in the Lake Norman/Davidson area, which is down from the mid-summer but around where we were last year at this time. On the distressed index side, we have 31 luxury homes listed in the distressed category, still well down from last fall’s number that ranged in the low 70’s.
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There also continue to be some bright spots on the pricing side. For example, sold prices per square foot in The Peninsula this summer were better than both 09 and 10 results. Whether that continues depends a lot on external variables like the economy and future debt reduction negotiations. Its fairly typical for sold prices to drop over the winter on lower activity, they’ve done so the past 3 Januarys then rebounded in the spring.


IJ Partners With Local Charities A2S Foundation, Ada Jenkins Center, Big Day

Ivester Jackson continues its tradition of partnering up with local charities with a newly announced sponsorship of Access to Success Foundation, a Davidson-based charity founded by former Davidson Wildcat Andrew Lovedale, which helps needy children in Nigeria. Ivester Jackson also has been a 2011 sponsor of Cornelius Today’s Big Day At The Lake, a year-round effort to help recruit volunteers for Big Brothers/Big Sisters of Charlotte, an organization which has a waiting list of 300 local children looking for mentors.
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Additionally, Ivester Jackson Managing Partner, Reed Jackson, has accepted a position on the newly founded Awareness Committee for The Ada Jenkins Center, a non-profit group which impacts local lives via its food bank, health services, and crisis ministry.green nike air max ray ban sunglasses Poland