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Dale Sorensen, Jr., managing partner of Dale Sorensen Real Estate, makes it his job to spot trends in the local real estate market, and he says things are looking up on the barrier island.
Sorensen points to data over a two-year period in the 32963 zip code showing inventory trending down and sales increasing, indicating that homes are being sold and some pricing power may be coming
back to the seller.
“Over the last two years (through December 2010) you have inventory down 26 percent, under contract up almost 18 percent and homes sold up 20 percent,” he said.
“It is still a challenging market to be sure, but our market is not freefalling which is what you might think from the national media.”
Dale Sorensen, Jr., managing partner of Dale Sorensen Real Estate, makes it his job to spot trends in the local real estate market, and he says things are looking up on the barrier island.
Sorensen points to data over a two-year period in the 32963 zip code showing inventory trending down and sales increasing, indicating that homes are being sold and some pricing power may be coming
back to the seller.
“Over the last two years (through December 2010) you have inventory down 26 percent, under contract up almost 18 percent and homes sold up 20 percent,” he said.
“It is still a challenging market to be sure, but our market is not freefalling which is what you might think from the national media.”
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Dale Sorensen, Jr., managing partner of Dale Sorensen Real Estate, makes it his job to spot trends in the local real estate market, and he says things are looking up on the barrier island.
Sorensen points to data over a two-year period in the 32963 zip code showing inventory trending down and sales increasing, indicating that homes are being sold and some pricing power may be coming
back to the seller.
“Over the last two years (through December 2010) you have inventory down 26 percent, under contract up almost 18 percent and homes sold up 20 percent,” he said.
“It is still a challenging market to be sure, but our market is not freefalling which is what you might think from the national media.”
Drepturi de autor:
Attribution Non-Commercial (BY-NC)
Formate disponibile
Descărcați ca PDF, TXT sau citiți online pe Scribd
Dale Sorensen Real Estate has banner year D ale Sorensen, Jr., managing partner of Dale Sorensen Real Estate, makes it his job to spot trends in the local real estate market, and he says things are look- ing up on the barrier island. Sorensen points to data over a two-year period in the 32963 zip code showing inventory trending down and sales increasing, indicat- ing that homes are being sold and some pricing power may be coming back to the seller. Over the last two years (through December 2010) you have inventory down 26 percent, under contract up almost 18 percent and homes sold up 20 percent, he said. It is still a challenging market to be sure, but our market is not free- falling which is what you might think from the national media. Sorensen says that while the sales prices are down -- in the 40 percent range from the peak -- buyers are out there and they are making pur- chases for homes that reflect that new reality. I tell our agents demand is there, if you put a home out there at the proper price people will buy, he said. Every segment in Vero Beach is different and you have to look at the data and the trends to under- stand each of them. Despite the doom and gloom that seems to be attached to anything you read about real estate these days, Dale Sorensen Real Estate en- joyed a banner year in 2010. The company, according to MLS statistics, reached $129 million in 32963 sales last year, well over dou- ble its closest island competitor. It also initiated another $87 million in purchases by buyers, also more than double anyone else on the island. Overall in 2010 the company in- creased its sales in Indian River County nearly 40 percent in homes priced over $1 million compared to double digit decreases for other agencies. The one notable exception in that category was Windsor Prop- erties, which saw an increase of 287 percent. Sorensen says there is lots of room for sales to improve, but his com- pany is poised to capitalize on that opportunity as it becomes available. That confidence is based on suc- cess in the past as the top real estate company in Indian River County and belief that his associates have an understanding of what moves the local market. The companys recent success has been in no small part to the work Sorensen plays behind the scene managing day-to-day operations, mining a wealth of MLS data and working on securing and devising unique marketing opportunities to arm his agents. He says he has learned to trust his own instincts rather than follow the BYIANM.LOVE Staff Writer DaIeSorensen,EIIzabethSorensen,DaIeSorensenJr.andMatIIdeSorensen.Photos by Tom McCarthy Jr. REAL ESTATE VeroBeach32963lJanuary 27, 201175 BREFFNI Real Estate Management 30 yrs experience as a property manager (10 yrs barrier island and 20 yrs in Manhattan) Professional Management Services LICENSED BONDED INSURED CallPatriciaMcEnerneyIoraIreecomplimentary HOA/Condo fnancial review including insurance. Consultation will include an evaluation oI the grounds, trees and irrigation by a licensed horticulturist. 2925 Cardinal Drive, Suite D Vero Beach, FL 32963 772.231.7804 pmcener835@aol.com lead of the experts who failed to see the real estate bubble as it was form- ing and continue to predict a dire market for the foreseeable future. It is basic economics, when sup- ply went up demand plummeted and now we are seeing in some areas supply is coming down to what are more normal levels and prices are stabilizing, he said. Sorensen Real Estate, started in 1978 by Dale Sorensen Sr. and his wife Matilde, has been a force in the beachside real estate market for a generation. The company boasts nearly 70 agents, including Matilde Sorensen, who was the top-producing agent in 2010 with just over $46 million in sales. The company is now comprised of three beachside offices and one on the mainland. It also attracts some of the top agents in the county. Of the top 25 Realtors in 2010, a quarter worked for Sorensen Real Estate. Together they generated a county-best $181 million in sales last year. Our focus is to help our agents grow their business which translates into helping more buyers and sellers than any other real estate company on the island, Sorensen Jr. said. It was under Sorensen, Jr.s direc- tion that the company last year ac- quired Coastal Signature Properties to build up a presence on the main- land, where he sees growth poten- tial to rival his companys stake on the barrier island. Our market share on the island is close to 25 percent, he said. Our market share in the county was about 12 percent. My thinking was why we shouldnt be 25 percent in the county as well. Based on what we spend in market- ing our brand, which reaches the whole county, we should be able to do that. The agents affiliated with Dale Sorensen Real Estate point to the marketing power provided by the company and the array of tools at their disposal to not only help their clients, but attract buyers as well. Dale Jr., has his finger on the pulse of not only the internet, but all kinds of creative tools that are being used by all different kinds of busi- nesses, said Sorensen agent Tripp Hernandez. He is focused not just on what is going on in Vero Beach, he looks at what is going on in Mi- ami, or Tampa or New York. Sorensen Jr., has forged relation- ships with local media and an array of national and international out- lets through the internet. His latest marketing move was to make Dale Sorensen Real Estate the exclusive provider of 3-D technology that first provides an internet virtual tour of the neighborhood and then takes you inside the prospective home. Both Dale Sr. and Matilde So- rensen point to the addition of their children Elizabeth (a sales agent herself ) and Dale Jr. as the point when their business really began to move to its current stature. The fact that Dale and Elizabeth have moved back gives us four fam- ily members to take care of the busi- ness, said Sorensen Sr. I am not sure if it was just me and Matilde if we would have expanded the way we did. Sorensen, Sr., said he did not nec- essarily expand willingly. It took the children to do some convincing that even in the lean times it was impor- tant to ramp up marketing and take advantage of all the opportunities offered by the internet. They brought and infusion of a lot of fresh thinking and creativity, he said. They were able to convince us that if we did not invest and re- invest into the company especially into technology that we would be left behind. Matilide Sorensen says the addi- tion of her children to the business allowed everyone to find their niche and capitalize on the strengths they bring to the company. I am very good at selling, but I am a horrible manager, she said with a laugh. Dale Jr., was so far in ad- vance of the marketing and of how real estate works, he had to take us along slowly, but he showed us. Ocean Park Ofhce. CardInaI DrIve Ofhce, 32D6 CardInaI DrIve. North AA Ofhce, 5D65 North AA.