Market Update - March 2009

Things are getting brighter, and it’s not just because of the time change.  We are seeing a definite increase in traffic.  This is a welcome change over the last quarter of 2008. 

The February closings in our area were more numerous than I expected to see.  The list to sales price ratio is also running a bit stronger at 93%.  All of these properties that sold had been on the market for less than 127 days.  This means that new sellers, or sellers that relist their properties are sharpening their pencils and pricing them to sell.  The sales price averages out at around $164,000, which leads me to believe that most of these were primary homes.  I think that we will start to see that price climb a bit over the next couple of months.

The signs are saying….go ahead.  Buy!   You have lots to choose from.  There are some motivated sellers out there.  There is an $8,000 tax credit for first time homebuyers (see related article), and there are tax credits available for energy efficient upgrades.

Don’t wait.  Put your money into something that you can see.  There is mortgage money out there.  Give us a call, we will help you - or some friends or yours - find just the right property!

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