Skip to main content
Helping make real estate dreams come true
GLAR Market Update for November 2009


The passing of the home-buyer tax credit's intitial expiration date

hasn't yet slowed the urgency of home buyers in the Greater Lakes

region, as November saw a continuation of the strong sales we've

seen in previous months.

There were 245 closed sales during the month, up 59.6 percent from

a year ago. New Listings were also up 18.7 percent.

The Median Sales Price for the month was $134,850, dipping 3.0

percent from the same month last year. Year to date, the median

sales price has fallen 9.9 percent from a year ago. Falling prices

have combined with still-low mortgage rates to create a favorable

affordability picture.

Have you received a Notice of Default on your property?  What are your plans?  Do you plan to walk away or do you want to try a Short Sale which has much less damage to your credit and helps you save face? You need a plan of action and if you want to buy some time, stay in the home until it sells and save up some money - then contact:

 Kathleen Lordbock REALTOR/Staging & Short Sale Specialist 

Keller Williams Realty Brainerd Lakes

Don't just walk away - there is hope, there is help!
Labels:

Comments

  1. Jeff GreenJanuary 7, 2010 at 6:17 AM

    Thanks for this update on the effect of the extended home buyer tax credit in your area.

    ReplyDelete

Post a Comment

Popular posts from this blog

Do Bidding Wars Increase Home Prices?

‘Bidding Wars’ Not Boosting Home Prices, Latest HousingPulse Results Indicate Despite media reports of the emergence of so-called “bidding wars" in select housing markets, average home prices remained flat in the month of April, according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. While reports of some home listings attracting dozens of offers have become common this year, the closely watched nationwide HousingPulse survey found that most homes sold in April received only two or three offers and sold below list price. Demand from investors remained strong during the month of April. Investors accounted for 25.1% of home purchases, while current homeowners accounted for 40.1% of purchases and first-time homebuyers accounted for 34.8% of purchases. Average prices for home purchases declined slightly from March to April, according to transactions reported by HousingPulse survey respondents. The average price for non-distressed p...
Post a Comment
Read more

Don't Want to Give It Away?

Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an...
3 comments
Read more