My Real Estate Blog

I hope everybody had a great Spring break and Easter Holiday. The market did well through Spring break. We should see a big increase in new listings coming to market this weekend. We have 46 single family homes on the market in 20171 - down 4 from last week - so the inventory held its' own this week. We had 10 new listings. To see those, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-106623351-931. Nine homes sold this week - which is great news. To see those, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-106623373-293. They ranged days on market from 6 days to 187 days for the split level on New Parkland. It had originally come on the market at $465,000 and then got a contract on it this week when it was listed at $417,500. This week should be an interesting week. Another factor that comes into play this week is the increase in cost of getting an FHA loan. The Mortgage insurance premium went up this weekend from 1.75% of the contract price to 2.25% of the contract price. This will affect the first time buyer and then consequently the move up buyer in our market.

Posted by Angela Mitchell on April 5th, 2010 10:35 AMPost a Comment (0)

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