(This is a copy of the monthly newsletter that we send to the Sellers who have entrusted the sale of their home to us.)

Happy New Year!

Welcome to 2008, and what we think is going to be a real estate market with a whole new look!
While we were pleased, as a company, with our business accomplishments, we discovered that
the area’s overall real estate business HAD been down in the year 2007 – 16% by units and 13%
by volume. In some ways, there was NO reason for this – our local employment picture was steady and healthy, rates remained low, and our inventory didn’t climb above a 6 month supply (which is what the National Association of Realtors dubs a balanced market.) So why the slowdown?

To a great degree, I blame it on the national media. You couldn’t watch the news or read a newspaper without seeing something about the housing market. Plummets. Tanks. Crashes. Falls. Lowest in so-many years. On and on. Yes, there are some areas of the country that have experienced huge lay-offs, huge run ups of inventory (due to foreclosures or overbuilding or the lay-offs), and problems with value, which follow these occurrences. But MANY, MANY areas of the country are like us: we plod along, slowly appreciating, not seeing a huge increase in value or the number of buyers each year. We are steady and stable.

But unless you were in the market to buy or to sell (and therefore getting these little monthly updates from us), you didn’t know that. And the experts on TV must be right, correct? Many people acted on a false reality – listening to the morning news show guests who said “Whatever you do, DON’T BUY A HOUSE THIS YEAR. You will lose money!” UGH! Well, for whatever reasons, it appears that things have improved. I personally think people are tired of waiting for something bad to happen, and tired of the negative news – and beginning the day after New Year’s Day, it was like a switch was turned on. We expect to have an excellent 2008, back on par with 2006, and we also expect to sell YOUR home, SOON!

We are busy spreading the news that all is well here in “Mayberry” – and we encourage you to do the same thing. Last weekend, there were Coldwell Banker representatives at the Chemung County Business after Business Event on Thursday, CMOG’s 2300 degree event at the same time, and we’ll be out in force at the upcoming Chamber dinner on the 24th, Corning area business after hours on the 31st, and their annual dinner on the 1st of March. We have been quoted in the Star Gazette and interviewed for an upcoming segment on WETM, and we will continue to promote our company and the wonderful homes we have listed (like yours) to make 2008 great! We thank you for giving us to the opportunity to manage the sale of your home and as always, welcome any comments, suggestions or comments you may have!