Michael Saunders & Company Announces First Quarter 2010 Sales Results Company Bests 2009 Dollar Volume And Unit Sales By Substantial Percentages
Posted by Tom Heatherman — April 12, 2010
SARASOTA, Florida—(April 8, 2010)—Agents representing Michael Saunders & Company sold $342.1 million in properties during the 1st Quarter of 2010, it was announced today from the firm’s headquarters in Sarasota, Florida. The amount represents a 73% improvement over the dollar volume recorded for the same quarter last year; with a corresponding 81% increase in year-over-year unit sales.
“We’re absolute thrilled with these results,” said Michael Saunders, the company’s founder and CEO. “It took plenty of patience, hard work and superb negotiating skills to achieve this level of production in such an unforgiving market. I credit my agents with doing a magnificent job of keeping their clients and customers constantly informed and updated about the market and its many challenges. The decision to buy or sell successfully in today’s market is a process that requires agents to act as educators as well as professional real estate counselors.”
In March alone, the company sold $149.4 million in properties, a 52% improvement over last March; with a corresponding 64% increase in year-over-year unit sales.
“Clearly there’s been an improvement in the market attributable to many different market forces. Above all, buyers are now confident that prices have bottomed to such an extent that waiting any longer will be counter-productive if you wish to further maximize your savings with today’s low interest rates. Of course, the first time homebuyer tax credit offers even more potential savings; but with or without the credit, there has never been a more opportune time to purchase homes at prices we are never likely to see again.”
As a potent sign that the company’s sales momentum will continue into the 2nd Quarter, its pending sales for the 1st quarter were up by 94%; and up by 86% for the month of March alone. Pending sales typically become closed sales one to three months after a contract is executed.
“As improved as our market is, most of the improvement is clustered in the lower end; among properties priced below $350,000” Saunders adds. “The upper end is lagging in the correction and is even experiencing its first wave of foreclosures. Nevertheless, I remain cautiously optimistic that the market will continue to improve even after the tax credit expires and interest rates go up; which they did as predicted, almost from the very moment the Federal Reserve ceased buying mortgage-backed securities. Sellers in all price ranges should not let their guard down; thinking that the market is now healthy enough to support overpriced listings, price increases or less of a willingness to negotiate. We’ve gotten as far as we have thanks to buyers who are cherry-picking the most aggressively priced properties in all neighborhoods and price ranges.”
About Michael Saunders & Company:
Now in its fourth decade of service to Southwest Florida, Michael Saunders & Company has grown from a single small office into a network of 23 full-service offices—with more than 500 professionally trained associates and 150 staff members. Powerful world-wide affiliations—including Leading Real Estate Companies of the World, Luxury Portfolio, Christie’s Great Estates, the European Real Estate Network (EREN) and Mayfair International Realty extend the company’s message to qualified buyers globally, ensuring the broadest possible exposure for our properties.
Michael Saunders & Company is ranked as the 73rd largest brokerage in the nation in the 2009 Power Broker Report compiled by RIS Media, the and is included among the 35 most influential Realtors in luxury real estate.
Customers of Michael Saunders & Company are assured of a comprehensive array of real estate services that will address every need. These services include commercial sales and leasing through the company’s Commercial Division, along with mortgage loan origination and full title and closing services. MSC Mortgage provides a full array of mortgage products through its partner, Wells Fargo Home Mortgage; while the expert team at MSC Title includes title examiners, processors, and closers dedicated to building on the reputation of Michael Saunders & Company for unequalled service and solutions. Backed by the underwriting strength of First American Title and Chicago title, MSC Title provides peace of mind by assuring that a buyer’s new property is free of liens and title defects. The award-winning MSC Relocation Division provides corporations with a wide range of relocation services to smooth the transition and assure immediate employee productivity in the new environment. MSC Assets Management and Short Sale Divisions, the company’s newest, are specifically structured to help facilitate the sale of foreclosed and short sale properties.
For more information about Michael Saunders & Company, please call 1-888-552-5228 or visit us on the Web at MichaelSaunders.com.