Mid-Year 2008 Update
Straight from the National Association of Realtors, President Yun provides the mid-year update:
End of First Quarter Numbers:
It is “official” as the Dayton Area Board of Realtors has released the End of March / First Quarter Numbers, Spring Selling has Sprung!
“Single-family residential transactions in March rose 88 units, or 11.2% over February’s total…the 869 sales reported resulted in over $110 million in transactions. Compared to a year earlier, March’s figure represented a decline of 203 units, consistent with the recent lull in the market.
The average sale price per single-family unit is still holding remarkably steady. For March the average came in at $126,790, just 3% below the comparable figure of $130,741 a year earlier.
Year-to-date through the first quarter, 2,364 single-family properties have been reported as sold…the average sale price of $120,419 is just a 3.9% decline compared to last year, a far less significant decline than in many parts of the country…listings added to the MLS in March totaled 2,142, a large drop-off of over 26% compared to the 2,911 figure from last March. This follows increases in listings in both January and February. This drop-off in listings has contributed to a decline in the overall available MLS inventory. A decline in the supply of homes could have a positive upward affect on average sale prices, if the trend continues.”
Our local home values are holding steady. If you are looking for a home to purchase – it is a good time with interest rates still at an all time low rate and many choices in home and features available. If you are looking to sell – the key is in your PRICE and being Priced Right. Allow me to work with you in finding the best property for your money / needs and to market your home to gain the most exposure and best price.
Land Contract Information
Buyers who are looking to BUY but are concerned that with all the mortgage changes they may not be able to find the right loan program – are looking at LAND CONTRACTS as an option.
Sellers who are looking to SELL and don’t want to have to take the hit to the bottom line or who need to make a sale NOW are looking at offering a LAND CONTRACT as an option.
Now, the benefit is this: a LAND CONTRACT can actually work very well for both parties and everyone can feel confident that the deal is solid, that both buyer and seller have “built-in protection clauses” and that for all intents and purposes – this seller financing option is a viable way to make the deal happen now. (more…)
Real Estate News
Sellers who really “need” to sell, are sometimes willing to work with buyers with assistance for closing costs, down payment or allowances for interior work. HOWEVER, some sellers are in a position that they CANNOT reduce their price, or they CANNOT offer that assistance – it doesn’t mean we have a bad market. Just the same, buyers need to understand that just because there are over 9200 Single Family Houses in our area that are LISTED For Sale – doesn’t mean they will find that one “perfect” home to call theirs. It takes a little effort, sometimes you’ll have to paint the whole inside or replace carpeting, maybe add that extra bathroom you really want – but ultimately, if the house fits your needs and it is in the price range you can afford – NOW is a great time to buy.
E-Listings Are Here!
Check out this cool feature for listings I have, not only is it higher tech – but it is way cool! The Upper Right / Left Corners will actually “turn the page…” CLICK HERE.