My New Blog

http://www.msnbc.msn.com/id/28471137/

Happy New Year all - hope everyone has recovered from all the family festivities!  Great article today on the MSNBC website from Newsweek with great advice on everything from your ARMs and fixed rates and what is happening with the lenders right now - here is the link above - a very informative read if you have time.

All the best in the New Year!

Carol

Hi Everyone!

I hope you are all staying warm!

In the statistics from October till the present, sales are up slightly this December but still way down along with prices. Homes are currently selling for about 92% of the asking price up to about 5-6 BR or 750,000 and sold prices are as low as 88% or less of the asking price on the larger homes. Only 7 out of 70 homes on the market sold that are 7 bedrooms or more and 46 out of 194 at the 5-6 bedroom level - sales are closer to a third at 4BR or less. Interest rates are still low and inventory is high.  A home that sold for 400,000 in 2005 is at 300,000 in may cases now.  In other words, it continues a great time to buy and not a great time to sell here. These statistics vary by area of course, but lower prices are pretty much across the board now.

Call or email me anytime with questions.

Carol