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You will receive a marketing status report approximately every 30 days from the date of the listing agreement, which will serve to inform you of activity in the market. In addition to reviewing any sales and/or new listings in your area, you will receive updates on the number of showings by myself and other agents, advertising placed and any other marketing activity that may have been done during the period.
The main purpose of this report is to keep you updated on what is selling in your market. We will thoroughly discuss any price changes strategies and determine the best approach to take. If a price reduction is necessary, a Listing Amendment Form will be used and the change will then be made in the MLS.

You will also receive verbal or written feedback from any agents who show or preview your home. In addition to phone calls, I fax a feedback request to each agent. This information is vital in determining how your property fares compared to others on the market with regards to appearance and price. Understand that not all agents who show your property will be courteous enough to return my calls or fax. Every effort will be made to contact them.

Owners: Stephanie and Bob Taggart
Property Address: 20944 Nightshade Place Ashburn

Showings: There were only 2 showings by agents in the past month and one by myself. One client came back through during an open house but they are as of yet undecided. Their agent has told that they look at a lot of houses but are probably relocating out of the area. Very poor prospects! The other showing resulted in feedback that said, "When you get it in the $400,000's let me know". I will keep her informed of any price/term changes.
I also showed it to a customer who has since purchased from Renaissance. They bought the Chagall model, base price of $439,000 and are still in contract negotiations. As we discussed, they need the time that it will take to build the new home in order to get their current home sold and do not want to list until the holidays.

Marketing Activity

Advertising

Competition

Randy and Michelle El accepted a contract on their home in Starflower in the $435,000 range this month. They had their house on the market for six months w/initial price of 489,900. Settlement to take place in January. Their sign has been removed. The other competition comes from Renaissance at Regency (newspaper as and price list included).
I have also enclosed the comps that Stephanie and I discussed for the Ashburn and Cascades/Lowes Island availables and sold. As you can see, you continue to be priced the highest. The other home in Lowes priced over $500,000 started at $539,000 on September 20th and was reduced to $519,000 on October 15th. This lot backs to Lowes Island Gold Course, hole # 11. (Printout included) The Regency project works both ways for us.
It should help to bring up prices in this area but it also gives buyers an option and allows those that have homes to sell the time to get them sold before having to settle on a new home. Sales have been slow but now that their model is open I would expect to see an increase in their sales pace. Big lots, no amenities.

Recommendations/Comments:

As we recently discussed, the price will remain at $549,900 but we have added an incentive in closing costs w/acceptable buyers. Will that be enough, time will tell. My experience tells me that most buyers will ask for that in offers anyway. But it will tell agents that you are indeed motivated. I have also added, "make offers!" Worst case, we gat a ridiculous low offer which you reject. Best case, we get a decent offer which can be countered into a good offer.
Things will slow down through the Christmas holidays and traffic will be minimal. I plan on holding it open again this Sunday, November 24th. I would recommend to Kim George that a spot cleaning be done in the bar area. The tap, refrigerator and mug chiller really need a good cleaning. There is a slight smell to that area that will get worse with the house closed up. I will call her directly. I have also scheduled the irrigation company for Wednesday to winterize and asked them to blow out the front and rear hose bibs. They will bill you directly. If you think of anything else that may need to be done (anything special to hot tub??) let me know. As always, I will keep you posted of any activity. Should you have any comments or questions don't hesitate to call.

Associate: Broker Name
Date: November 22nd, 1996
Reporting Period: October 22nd - November 22nd, 1996