Thursday, September 10 2009
We trust you enjoyed a relaxing Labor Day weekend. I know we did. The next two months will be busy in the real estate business. The $8,000 first time homebuyer’s tax credit is scheduled to Expire November 30th. There is very little time to complete purchases in time to take advantage of this program and we anticipate that title companies will be scrambling to accommodate closings scheduled for the end of November.
There have been some very positive articles recently about home sales nationally. Specifically pending contracts (a forward looking indicator) have increased for six consecutive months and are at their highest level since July of 2007. Although reviewing National information is fine, local statistics are much more important to your personal housing decisions. Locally, average sales price for all of 2008 was $119,301. This year through August average sales price is $117,390, a decline of only 1.6%. List price to sale price is also virtually unchanged from 95.61% for 2008 compared to 94.69% this year to date. These numbers suggest that prices have declined but only very slightly and that buyers who think they are going to buy homes at significant discounts from a couple of years ago will be disappointed. As we said last month sales and inventory levels in our local market remain remarkably consistent. Our market, although not booming, is still healthy. The best way to determine market value for your home is to compare it to recent sales of homes of similar condition and location. We would be happy to help you determine the market value of your home, just give us a call at 812-499-9234 or email at Rolando@TheTrentiniTEam.com
Things are going very well here at F. C. Tucker Emge Realtors and next month we will update you on some of the services we make available to our customers and clients.