Real Estate info- buying, selling and everything in between: David Holden Broker/Owner RE/MAX Preferred (RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)

The new housing numbers are due out shortly so we thought this might be a good time to look at things on a more local level.

Jan. 1, 2009-March 17, 2009.

These are RE-SALE HOMES ONLY.

 So far this year (2009) 38 homes have sold with an average market time of 131 days. The most active price range is $200,000-$249,000 with an average market time of 118 days and 6 homes sold.

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For the same time period last year (2008) 52 homes had sold.  The average market time was 129 days.  The most active price range was $180,000-$199,900 with 12 homes selling, market time was 107 days. ***Second place was $200,000-$249,000 with 10 homes sold and 162 days on market. *** This is notable as over 42% of the RE-SALE homes sold fell into the $180,000-$249,900 range.

The good news, the prime selling months are just around the corner.  Internet traffic and showings have picked up considerably in the last 10 days so things look promising at this point. 

And a question:

Anyone else notice the guy on a ladder with a chainsaw carving a 7+ foot horse lately? 

The new housing numbers are due out shortly so we thought this might be a good time to look at things on a more local level.

Jan. 1, 2009-March 17, 2009.

These are RE-SALE HOMES ONLY.

 So far this year (2009) 38 homes have sold with an average market time of 131 days. The most active price range is $200,000-$249,000 with an average market time of 118 days and 6 homes sold.

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For the same time period last year (2008) 52 homes had sold.  The average market time was 129 days.  The most active price range was $180,000-$199,900 with 12 homes selling, market time was 107 days. ***Second place was $200,000-$249,000 with 10 homes sold and 162 days on market. *** This is notable as over 42% of the RE-SALE homes sold fell into the $180,000-$249,900 range.

The good news, the prime selling months are just around the corner.  Internet traffic and showings have picked up considerably in the last 10 days so things look promising at this point. 

And a question:

Anyone else notice the guy on a ladder with a chainsaw carving a 7+ foot horse lately? 

Hello!

This update includes both Thronbury Hill and the Manors at Thornbury Hill.  Keep in mind this data was pulled directly from the MLS.  If Fulford sells a home without agent involvement it does not show up in our system.

In 2008: 12 Homes closed in Thornbury.  Given the current state of the market this is very good activity.

Of the 12:

11 were Re-sale homes with an average sales price of $291,707 and average days on market of 84.

1 was new construction; it sold for $330,886 and was on the market for 371 days.

Compared to other areas in O'Fallon IL this is very significant activity.

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For 2009:

2 have closed so far. This shows a very early indication of continued elevated activity.  The 2 that have closed so far have an average sales price of $245,500 and were on the market an average of 104 days. One of these was a short sale that closed far below market value which explains the low average sales price.

More good news: 2 more are currently under contract.  Since they have not closed we have no average sales price data but will update as soon as it becomes available. 

Right now there are a total of 9 homes for sale.  Of the 9 homes, 8 are resale with an average price of $319,250 and days on market of 66. One new construction is currently listed for $299,900 and has been on the market for 80 days. 

There is one additional new construction spec home currently for sale for $390,455.  This one is not factored into the data. 

So all in all Thornbury is fairing much better than many areas.  If you would like further information feel free to contact us.

Don't forget to "Spring Forward " and set your clocks ahead 1 hour BEFORE you go to bed Saturday night!

Hello!

So... not much change from 30 days ago.  There are now 5 (there were 3) homes for sale in Windermire Ridge.  And nothing has closed (yet) this year.  Of the five homes for sale the average price is $334,820 and the average days on the market is 128.  If you are interested in the February 2009 Market Conditions Report for O'Fallon IL it can be found here.  Interest rates remain low and inventory is high so the time is still right to be shopping for a house.  Additional info on the First Time Home buyer Tax Credit is available by clicking here : Tax Credit.

Regards.

Your Market update for February 2009.  Activity is increasing from January!
Right now O'Fallon IL has a fantastic selection of homes in a wide variety of price ranges.  As of today (Feb. 25^th 2009 there are 240 homes for sale in the 62269 zip code.  Interest rates are still low and the first time home buyer $8,000 tax credit make this an excellent time to be shopping for a new home.
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TOTAL HOMES FOR SALE= 240 (slightly up)

Of the 240 on the market:

NEW CONSTRUCTION = 35.  Average price $238,435 (down from $242,404)

And average Days on Market is 316.

RESALE HOMES= 205  Average price $224,637 (Up)
and Days on Market is 138 (Down)
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HOMES UNDER CONTRACT =23 (02/02/2009-02/25/2009) UP almost 50%!

Of the 23 with a contract: 

NEW CONSTRUCTION= 5 Average price $236,873
and Days on Market is 181.

RESALE HOMES= 18 Average price $156,850
and Days on Market is 130

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CLOSED HOMES= 11 (homes closed 02/01/2009-02/25/2009)

Of the 11 that closed last month:

NEW CONSTRUCTION =3. Average price $241,333
and Days on Market is 168

RESALE HOMES = 8, Average price is $194,588
and Days on Market is 101

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So, not all bad news. There are a few bright spots with the homes going under contract in the last 25 days jumping from 13 to 23!

We have information available for other areas as well.  If you would like this data just let us know.

Information deemed reliable but not guaranteed.  Data pulled from SIRMLS.

Looking for homes?

Why use a RE/MAX Agent?

So the weekend is once again upon us. 

This Saturday is the Mardi Gras parade.  However, if the idea of standing around, in the cold with 200,000 of your closest friends does not appeal to you, there is another option.  Actually, there are hundreds of options but we promised to discuss the new stimulus plan earlier.

 Energy Efficent Housing tax credits and grants

Stimulate the economy.  And get a tax credit.  As part of the stimulus package (American Recovery and Reinvestment Act of 2009) there are some perks for becoming more energy efficient.  If you buy a new furnace, windows or insulation you are eligible for a 30% tax credit.  This is a significant jump over the 10% offered last year.

If you elect to go to Soulard:

Stay warm, stay safe and have fun!

Looking for homes?

The Stimulus Plan!

If you want to buy a house what does it mean?  Well, if you are a first time homebuyer...read on!

A First Time Homebuyer is defined as someone who had not owned a home in the last 3 years.  Before anyone gets any bright ideas...this includes your spouse.  So if you are on the Title and not your spouse you DO NOT get the credit.  Had several calls about this already today.

If you meet the above requirement, you are eligible for an $8,000 tax credit. Simple, right?  There are some income limits, $75,000 or $150,000 if a joint return.  The big change is that this does not have to be paid back, stay in the home for three years and no re-payment.  Must be purchased between January 1^st 2009 and December 1^st 2009. AND... It must be your principal residence.  

For full details contact us.  There are some more items attached to the bill including but not limited to:

Neighborhood Stabilization

FHA, Fannie Mae, and Freddie Mac loan limits

Energy Efficent Housing tax credits and grants*****A PERSONAL FAVORITE OF OURS******

Over the course of the next few days we will highlight several other points of the package to expand on.

Stay tuned.