My Real Estate Blog

September 21st, 2009 11:44 AM
The market did okay this week but I think if the first time buyer $8,000 credit goes away, we will see some softening again. It seems to be holding up our  market right now like the 100% buyers were doing in 2004/2005. Our market has and is historically about 70%-80% move up buyers so they drive the market when they can buy. We have 40 single family homes on the market in 20171 - Oak Hill. There were 8 new listings, to see those http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-89730050-283.  Of the 8, 2 were relisted properties and 1 was a foreclosure. The foreclosure was at 2602 John Milton and was purchased for $620,000 in May 2005 and is now listed at $446,000 when it got a contract so a loss to the bank of somewhere close to $200,000 with real estate commissions.  We had 5 homes sold - to see those - http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-89729527-928. There were 5 homes sold - 2 were relists that have been on the market over 100 days and the other was a foreclosure - so 3 seller sold homes - its lowest sold number in several months. Hopefully, this is not an indication of what is to be this Fall.  I know there seems to be a rush to get a home bought to qualify for the $8,000 since the time is running out.

Posted by Angela Mitchell on September 21st, 2009 11:44 AMPost a Comment (0)

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