Approaching our Holiday Season, we still have very good sales and inventory figures, for this year. Our market has had a reduction in the number of listings; mostly it has been a reduction in the number of land listings. Of course the reduction in land listings has to do with the market conditions and the current ability to finance land.
Looking back over the last year, we have been looking at sales figures that are comparable with sales figures before we hit the hardest part of the recession. Our 3-month and 6-month figures are almost the exact same as this time last year, with a 15% difference in our 12-month figures. Also, the number of active listings has been about 500 listing below much of comparable dates from 2008.
There is a lot of data that shows where we have been and additional data that projects where we are going. My thoughts regarding both of these is that our market is going to slow down over the winter, which it almost always does, but people who keep there properties on the market over the winter will have less competition than before. There also seems to be a large number of buyers that are looking at less expensive properties as well as a large number that cant seem to commit to making an offer.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Marc White Real Estate, Boone Real Estate, Blowing Rock Real Estate, Banner Elk Real Estate, High Country Real Estate
CLICK: Local news & information: NC High Country Real Estate
Today, the President signed a bill into law providing tax incentives to prospective homebuyers. This bill extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Additionally, the bill expands the credit to include a $6500 credit for current home owners purchasing a new or existing home so long as the home they are leaving has been used as their principal residence for 5 years or more. For more information on the home buyer tax credit, please visit irs.gov. The bill signed by the President today also extends unemployment benefits.
ABOVE IS COPIED FROM AN EMAIL SENT BY Senator Richard Burr stating the provisions of the new FTHB Tax Credit passed and signed today.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Marc@CedarFallsRealty.com
Marc White Real Estate, Boone Real Estate, Blowing Rock Real Estate, Banner Elk Real Estate, High Country Real Estate
Conditions have dramatically improved! Our sales have continued to stay high, while our inventory numbers are diminishing. (This is exactly what our statistics Absorption Rates have been indicating). But, with this said, October 31st is our third largest day of the year for listings to expire. Because of this, we may see a slight increase on our Third Monday Update later this month. Our current properties under contract have stayed fairly consistent with a slight drop in residential contracts in the past two weeks. Under contracts provide us with insight to what the market is doing, and going to be doing in the future. Many agents rely solely on Days-on-Market or recent sales, but these numbers simply tell us the past and can rarely provide insight into the future.
Let’s keep our fingers crossed as we still have some bright days ahead for us. Additional note, the extended marketing that I spoke to you about several weeks ago has just begun showing itself as productive. Since this is a relatively new approach, I anticipate we will see more positive results as we move through November.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Marc White Real Estate, Boone Real Estate, Blowing Rock Real Estate,
Banner Elk Real Estate, High Country Real Estate, High Country Realty
