Inventory Reduction

"A crazy amount of inventory" is how Jarrod Davis, team leader and managing partner of Keller Williams Realty of Highlands County, describes the glut of residential property on the local market.

According to the Heartland Association of Realtors Multiple Listing Service, there were 2,182 residential listings in Highlands County as of Aug. 18. Arianna Jordan-Burke, association executive, noted the number of listings changes from day to day - even hour to hour. Two days later the total was 2,200.

Here is another telling statistic involving residential property in Sebring. Between Jan. 1 and Aug. 20 of this year, the number of new listings more than doubled compared to the same period in 2007.

There were 570 new listings during that time in 2008 in Sebring. From Jan. 1, 2007

to Aug. 20, 2007 there were 240.

In an attempt to boost sales, the Realtors and the association have organized a campaign called "See This House." It involves caravanning to homes that are on the MLS.

Dawn Dell, broker/owner of Dell Realty, came up with the idea of "See This House." Dell said she is always thinking about marketing strategies.

"We need to get the inventory down," she said.

Participants will be meeting at the association office on Sept. 10 at 9:30 a.m. for a 30-minute preview before hitting the road. The real estate agent who has the listing will give a brief description of the home.

A vendor will then make a presentation. Metroplex Mortgage Services is scheduled to be the first presenter.

They will then pile in their vehicles and carpool to the homes for tours.

The caravan will visit six homes in the Harder Hall/Lake Haven area of Sebring.

"You can't see the heart of the house until you're in it," Jordan-Burke said.

Participants will be asked to complete a survey rating the property from 1-10, with 10 being the best, in several categories. They include: curb appeal, floor plan, front landscape, cleanliness of home, backyard landscape and price.

"It gives them a realistic view of what challenges there are with the house," Davis said.

There are those who think that an open house is not really effective.

Davis responds that an open house serves different purposes including satisfying the seller and generating leads. The community can become involved if neighbors are invited.

He believes it is a matter of mindset and notes "if you think it won't work then it won't work."

"I think it is a great idea," said Dale Stewart, a Realtor with C.S. Edwards Realty Inc.

"There are so many houses that we don't preview them all.

"I think it will help," Stewart added. "Agents will be working with agents."

"We have to work with each other to sell houses," Davis said.

Davis said they will cover different areas and plan to include homes in Lake Placid and Avon Park.

The caravan will roll out twice a month.

Davis said setting up tours for the public is planned in the future.