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Winter 2012 Market Update
Foreclosures increasing in 2009. Depressing other home values. More owners may end up short selling or foreclosuing because their home values have plummeted. Even if they do not want to move, they may be forced to do so, and will do it at a huge loss. As realtors, we need to get the foreclosures off the market asap by working with first time buyers and getting banks to price them right. Once they are gone, we will stabilize and values will slowly appreciate.
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| Average Home Price | $350,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 25-30% |
| Average Time on Market | More than 120 days |
| Prices As % of Asking Price | 90-95% |
| Market Trend | No Change |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Multiple Offers? | No |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Other |
| Average Sold Price | $350,000 - View Graph Trend |
Montgomery Village Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.61%
15 yr. jumbo rate: 3.97%
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