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Market Report Week Ending Nov 20, 2009

Monday, November 23, 2009
by Jason Harrell & Kevin Lee

 

MARKET REPORT

WEEK ENDING NOV 20, 2009

 

 

Current Market Conditions for week ending           Current Market Conditions for week ending

Single family Homes                                          Single family Homes

Nov 20, 2009                                                      Nov 20, 2008

                                                                                Same week last year

 

Closings                                                                          Closings

30                                                                                    22  

 

Average close price                                                       Average close price

183,887                                                                          120,072

 

Pending listings                                                              Pending listings

26                                                                                      38

 

Average Pending List price                                   Average Pending List price

196,475                                                                        170,762

 

 

 

Market Conditions for week ending                Market Conditions for week ending

Including multi-family                             Including multi-family

     Nov 20, 2009                                         Nov 20, 2008

                                                                      Same week last year

 

 

Closings                                                              Closings

45                                                                      32

 

 

Average close price                                            Average close price

144,129                                                               112,249

 

 

Pending listings                                                      Pending listings

32                                                                           59

 

 

Average Pending List price                                        Average Pending List price

173,946                                                                        146,192

 

 

 

This data verifies what many agents are talking about now, finally after a long dry spell for homes in the 200,000 plus price range, these homes are getting some activity bringing the average sell price up dramatically from last year.   We are hoping for a busy holiday sell season!

 

NOWS THE TIME TO OWN A HOME!

Wednesday, April 15, 2009
by Kevin Lee

Are you tired of making someone elses mortgage payment?

 Thats exactly what your doing when you rent.

 There may never be a better time to be a new homeowner than in 2009.  The government has many incentives including an $8,000.00 tax credit.  If you were walking down the street and saw $8,000.00 in a bundle with a note that reads , take me, free money to whoever finds me, you would pick it up right? Thats kinda what is happening now with this tax credit. Buy a house and close before Dec 1st 2009, and you will get up tp $8,000.00 in tax credit. 

Are you content to go another year with little or no tax write-offs? 

In addition to the tax credit, home ownership comes with many tax write-offs, mortgage interest is tax deductible making it the largest write off many americans have. 

Would you like to build equity in your financial future?

Your home can be one of your biggest resources during your retirement years.  Your home should increase in value over the course of years (amount varies based on individual markets), and as you make your mortgage payments the amount you owe on your home is reduced. The difference between the amount you owe and the amount your home is worth is your equity. This can add up over the course of years to significant amounts. For those folks that are not as good as saving for the future as others, their homes equity can fill in some budgetary gaps during retirement. Its the easiest savings account you will most likely have.  The purchase of additional investment properties over the course of your life is also a smart choice for preparing for retirement. The benefits of an investment property will prove to be even more beneficial in your retirement years, since tenants make your mortgage payments for you. Every month your tenants pay their rent , its as if they are making a deposit into your retirement account.


These are just a few of the reasons why now is the time to become a homeowner , and continue to invest in real estate through out your life. 

 

Displaying blog entries 21-22 of 22

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Lee & Harrell Real Estate Professionals
644 E. Arlington Blvd. & 3695 E Wilson Street
Greenville & Farmville NC 27858
252-347-8520
252-327-9668
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