Ability Realty

Trying to make predictions is like riding a roller coaster. It has its ups and downs and you are not sure what is coming next. I really think that interest rates are having a good affect on our home sales. I just had a Buyer close at 4.375% with an FHA loan. She had needs for a maximum payment that she could live with, and we matched a decent foreclosure to her needs, and she is now a proud first time home buyer without the tax credit.

According to the August statistics we had 388 more listings under contract than the month before which is a good sign but can it hold? Anything listed under $125,000 is going to get showings, as these are homes that allow the buyer to pay less, or about the same as living in a two bedroom average apartment. If you are an apartment dweller now is the time to see if you can qualify for a loan and start looking for your own personal home. We also had 90 more closings in August than we did in July.

Some of the other statistics went in a bad direction. Look at the chart to see what I mean.

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.
* Closed during the month.
** For the current month (not the total listing under contract)

We are still getting a large number of Foreclosures on a daily basis, so this will still keep our inventory up. Once the Foreclosures decline we will see a much more active market with price increases. I still think we are some months away from that. Maybe the November election will give us some real change starting after the first of the year.

If I can help you buy or sell a Home please call me at 240-7130