Since the last sales report, property sales in Montreux have continued at a solid pace. There have been a total of 5 closed luxury real estate sales. Additionally, five properties are currently "Pending" with closings planned before Thanksgiving.

The trend of best priced properties, or perceived "best value", have attracted the most activity. Price continues to be the largest factor in motivating Buyers. The under $1,000,000 market for Montreux real estate has received the majority of interest and sales.

Renaissance at Montreux is the area in Montreux that has seen the most offers and ultimately sales. With 60% of all recent sales activity, the Renaissance area is currently “sold out”.

Following is a summary of the recent sales activity in the Montreux community, since September 1, 2009.

Sold Properties in Montreux:
6375 Wetzel (Cottage) - $479,000 1707 SF
5925 Cartier (Renaissance home) - $550,000 3194 SF
16845 Delacroix (Renaissance home) – $628,000 3785 SF
6594 Champetre (Creekside Manor) – $1,225,000 3100 SF
5099 Nestle (Custom Home) - $2,250,000 5894 SF

Current Pending Properties in Montreux:
4505 Alpes (Custom home) – 4623 SF
5860 Cartier (Renaissance Custom Lot) – 1.13 acre
16925 Delacroix (Renaissance home) – 3500 SF
5965 Cartier (Renaissance home) – 3200 SF
5900 Cartier (Renaissance home) – 3785 SF

Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

Sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million last month, from a downwardly revised pace of 5.1 million in August, the National Association of Realtors said Friday.

That pace was the strongest in two years and beat Wall Street forecasts. Sales had been expected to rise to an annual rate of 5.35 million, according to economists surveyed by Thomson Reuters.

"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

Nationwide sales are up nearly 24 percent from their bottom in January, but are still down 23 percent from four years ago.

Prices, however, continued to be dragged down by foreclosures and short sales, where the mortgage exceeds the sales price. The median price last month was $174,900, down almost 9 percent from $191,200 a year earlier, and slightly lower than August's median of $177,300.

The inventory of unsold homes on the market fell about 7 percent to 3.63 million. That's less than an eight-month supply at the current sales pace, and the lowest level since March 2007.

Sales rose around the country, especially in the West, where they grew 13 percent from a month earlier.

First-time homebuyers and investors are snapping up those homes and taking advantage of low mortgage rates. These buyers can also take advantage of a tax credit of 10 percent of the sales price, up to $8,000, if the sale is completed by the end of November.

The tax credit is so important to some buyers that they are adding a clause to their contracts, allowing them to back out if the sale doesn't close by Nov. 30. However, economists note that bargain-priced foreclosures and low mortgage rates are making a big contribution to the sales boom.

"We think the housing market has touched bottom and it is now only a matter of time until home prices stabilize -- something that we anticipate to occur in late 2010," wrote Joseph LaVorgna, chief U.S. economist at Deutsche Bank.

We have seen an increase in buyer activity in Montreux as well. Demand for luxury real estate seems to be getting better. This is a good sign for Montreux real estate and Reno real estate in general.

Becoming a great real estate agent takes hard work and dedication. You must be willing to outwork all other real estate agents, get all the little details correct, keep your standards high, focus on the process of selling and listing real estate, and most important, don't get lazy. When you're successful, you must work even harder to stay there!

To become a great real estate agent, you must get the fundamentals right. Doing the little things over and over again, every day of the week, every month, and year after year. Individuals that focus on the basics are the ones that survive the tough times hit.

Anyone can become a successful real estate agent if they possess the dedication, focus, initiative, and positive energy required to do so. The old rule still stands true: "Hard work and dedication breeds success."

To be the best real estate agent you must be willing to outwork everyone else. You become the best by doing the same things over and over again, with hard work and dedication. With this you will become a master of all the things you do over and over. It takes dedication to hone your individual job skills until you master them.

Be sure to stay the course long enough to become the best at what you do. If you keep shifting your strategies or your job focus, you'll never become the best.

Getting all the little details correct is a must in luxury real estate. Common job tasks such as returning phone calls, filling out reports, managing your client database, doing market research, marketing your properties, preparing for client and broker meetings, all take time, and must be completed with attention to detail. One minor mistake can cause an entire deal to go south. Watch the details!

Keeping high standards is another important trait of a successful real estate agent. Always do what's right. Do your best. And, treat others the way they want to be treated. Can I trust you? Do you care about me? Are you committed to excellence? These are all questions current and future clients will ask of you. If you can't answer yes, you will never become great. Period.

Focusing on the process of your work will lead you to great outcomes. Repeat the actions that got you listings and sales in the first place. Have a roadmap, goals. Each day, week, month, and year you should set goals to reach. The key to reaching those goals is to focus on the process, not the outcome.

Don't get lazy. Of course, that is easier said than done. But, if you want to be successful, it takes hard work and dedication. I am a true believe in luck. I find that the harder I work, the luckier I get. Hard work, focus and dedication to your will is what creates success. You need to be on the ball... arketing, advertising, offering new methods of listing and selling real estate, improving your client service, and staying one step ahead of your competition.

1. Don't be insulted by low offers.
Low bids often turn into an accepted deal. Take each offer seriously because the first offer is often the best. In today's market, 4 out of 5 Buyers expect a counter offer. The first offer can simply be the start of the conversation.

2. Leave the property during open houses and showings
The Seller / home owner needs to leave the house. A potential Buyer isn't going to open up closets and medicine cabinets when there. They cannot visualize the home as their own with the current owner milling around. If you have to stay, stay outside or in the smallest most unattractive room. If the prospect asks you a question, be polite yet as curt as possible. Leave questions and answers up to the real estate professional. It is their job to "sell" your home.

3. Clean up the closets.
When a Buyer sees a really clean closet they'll think the house has been maintained well throughout. A clean and organized closet (what they can see), means what they cannot see, e.g., electrical, wiring, plumbing, et cetera are also in good shape.

4. Make the small, visible repairs now.
Replace light bulbs, repaint, fix cracks, and so on before putting the home on the market. Although most Sellers do not what to put any more money into the home they are trying to sell, they will net more in negotiations if the Buyer does not expect to make these repairs themselves after the sale.

5. Remove the clutter.
Clear off counter tops and put away personal items, e.g., picture frames and nick nacks. A messy room always looks smaller.

6. Invest in quality, professional photography.
With 80% of all Buyers doing their homework online, the old concept of "curb appeal" is now seen through good photography. The first time a Buyer will see your house, will most likely be online, versus driving by. Make sure the photographer uses a wide angle lens and pictures are taken in the right light.

7. Pay a full commission.
There is a lot of inventory right now and real estate professionals can be selective on what homes to show Buyers. In order for your house to be at the front of the line, make sure you pay a full, cooperating broker commission. You do not want to reduce the commission and be put at the back of the line before a potential Buyer has a chance to consider your house.

Average rates on 30-year fixed-rate mortgages fell below 5% this week -- the first time since the end of May, according to Freddie Mac's weekly survey of conforming mortgage rates, released on Thursday.

The 30-year fixed-rate mortgage averaged 4.94% for the week ending Oct. 1, down from 5.04% last week and 6.10% a year ago. The mortgage hasn't been below 5% since the week ending May 28, when it averaged 4.91%.

The 15-year fixed-rate mortgage averaged 4.36% this week, down from last week's 4.46% average. The mortgage averaged 5.78% a year ago. It hasn't been lower since Freddie Mac started tracking it in 1991.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.42%, down from 4.51% last week and 6% a year ago. And 1-year Treasury-indexed ARMs averaged 4.49%, down from 4.52% last week and 5.12% a year ago.

To obtain the rates, the 30-year fixed-rate mortgage required payment of an average 0.7 point, the 15-year fixed-rate mortgage and the 5-year ARM required an average 0.6 point and the 1-year ARM required an average 0.5 point. A point is 1% of the mortgage amount, charged as prepaid interest.

"Low mortgage rates are helping to stabilize home sales," said Frank Nothaft, Freddie Mac vice president and chief economist, in a news release. "New home sales in August rose to the highest annualized pace since September 2008 and the inventory of unsold houses fell to the lowest level since February 1983."

The pending-home-sales index rose 6.4% in August to its highest level since March 2007, the National Association of Realtors reported Thursday.

The index, which tracks sales contracts signed on existing homes, has risen for seven months in a row for the first time since the gauge was created in 2001, the industry trade group said.

The pending-home-sales index has been much stronger than existing-home sales, which are recorded at the closing of the sale, usually a month or two after a sale contract is signed. The pending-sales index has risen 19% since December, while closed sales are up about 8%, according to data from the real-estate group.

Real estate activity in Montreux has risen as well. August and September activity has double from previous months. Buyers are reporting sales of their luxury real estate, allowing them to purchase Montreux properties.