Busy, Busy and the Market Watch for the Week
It's been a busy week and that's good, even though interest rates didn't just rise in the last week, it was like they took the express elevator. While 4.6% is good 5.3% isn't bad either and that's just about where they're hovering today. I bought my home in 1980 for under $120,000, it rose and declined and rose in value until its value peaked into the mid $500,000. It has cooled off by a $100,000 roughly but I know its value will come back in time. Can you imagine though what I was saying in 1980 when interest rates were in the mid teens? Yes, cost of living was lower, yes home prices were lower, but do you really want to wait for rates to increase before taking that piece of the American pie? I wish I had a crystal ball to tell you what rates would be like in 3 or 6 months. Those that think they can predict are only guessing, they may claim they have the information to make an informed decision today, but their information changes, sometimes weekly, sometimes daily.
With regards to lending industry, and more importantly the appraisal situation they have in place that is affecting everyone from buyers to sellers to lenders and realtors. I encourage everyone to view and sign this petition and maybe we can put an end to the cancelled contracts, inaccurate appraisals. It is a short petition and takes all of two minutes to read. You don't have to work in the industry to sign it either.
I have to share an idea I thought of last weekend. After the For Sale sign post was planted last Saturday
at 1115 Via Alamosa I wondered how to illuminate it, and in the shortest time possible. I remember reading in my periodicals of a company that sold lights that mount on a sign post and would illuminate a for sale sign at night by solar power. Not that an illuminated sign is going to draw people to our listing from miles away but it could get noticed by people driving by just a few yards away. See the listing is just inside a courtyard and not viewable from any regularly traveled public street.
Nancy and I already have solar powered LED walkway lights leading to our door, but I knew they wouldn't work because of the direction the light is directed. But what about a LED spot or floodlight, do they make them? Well ordering the lights online is going to take a week or more. So I gave it a little thought and decided to head over to the nearest Home Depot store not totally sure I had a solution. Well, I have good news Hampton Bay makes a one piece unit that includes a solar panel, 3 led spotlight, two rechargeable batteries and stake that was selling for under $15. I planted one on each side of the For Sale sign and there you go, a lit for sale sign at dusk all through the night. I tried to find a link to the light on the Home Depot or Hampton Bay websites and had no luck so, you'll have to hope for the best and drive over.
You may have noticed your reading this second blog post of the week on a Friday instead of the Thursday I started out with. I think it gives a better perspective of the week to stretch it out an extra day to Friday. How much could change between Tuesday and Thursday? Well sometimes a lot, but for the weekend house hunters reading this an update of homes for sale on Friday is going to be more accurate than Thursday.
With that here are the links for the end of the work week.
NEW
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,250,000 | $2,500 | $553,476 | $550,000 | $14,943,875 | 27 | $0 | $0 | $0 | $0 | $0 | 9 | 1 | 4 | 4 | | |
|
ALL AVAILABLE
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,899,000 | $265,000 | $666,046 | $622,000 | $90,582,325 | 136 | $0 | $0 | $0 | $0 | $0 | 326 | 1 | 68 | 48 | | |
|
PRICE CHANGE
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $1,200,000 | $1,500 | $520,900 | $410,000 | $9,376,200 | 18 | $0 | $0 | $0 | $0 | $0 | 241 | 1 | 71 | 52 | | |
|
PENDINGS
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $10,400,000 | $162,900 | $717,215 | $549,500 | $70,287,081 | 98 | $0 | $0 | $0 | $0 | $0 | 352 | 0 | 50 | 26 | | |
|
SOLDS
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $750,000 | $445,000 | $569,633 | $564,450 | $3,417,800 | 6 | $735,000 | $436,000 | $557,500 | $539,000 | $3,345,000 | 197 | 14 | 47 | 18 | | |
|
RESIDENTIAL INCOME (All activity since 5/1/09 up to 5 units)
| LIST PRICE: | SOLD PRICE: | DOM: |
| HIGH | LOW | AVERAGE | MEDIAN | TOTAL PRICE | LISTING COUNT | $2,345,000 | $410,000 | $746,702 | $650,000 | $21,654,371 | 29 | $0 | $0 | $0 | $0 | $0 | 430 | 1 | 117 | 95 | | |
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If you have any questions on any of the properties included in the links above please contact Nancy or I.
Ciao for now, Chuck
