My Real Estate Blog

The market did not do well at all this week and not sure why. It looks as if it put on the brakes in a big way. We have 47 single family homes for sale in 20171. Still a low number but climbing. We had 7 new listings so you can see if we don't sell a few a week, the net inventory will climb and then prices will soften. To see the new homes, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-92316449-831. One of the new homes was a foreclosure on 12912 Framingham in Fox Mill Estates.  This is another example of when the market was high; the owners must have refinanced all the money out and now cannot pay their mortgage. The house was originally purchased in November of 2002 for $320,000 and now is on the market for $339,000 as a foreclosure - which is a great price today. The bad news is that only one home sold this week and not sure why. To see the lucky person, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-92316480-548. It was on the market 163 days and started at $489,000 and reduced to $429,000 and is a short sale so not even a seller sold home. Hopefully, next week will show much better results. Not sure why it looks so bad this week. Maybe you know because I am clueless - let me know if you have any thoughts. Have a great October day.

Posted by Angela Mitchell on October 19th, 2009 6:48 AMPost a Comment (0)

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