April and May market should be improved as the activity has increased
Much of the country seems to be having an increase in the number of sales as well as sales price. Real Estate is VERY LOCAL. The numbers through March do not show an increase (see below), though I really think the April and May market should be improved as the activity has increased, we have increased showings and offers. Our website hits have certainly increased, reflecting the renewed interest in the market AND the positive remarks from the news media really have had a big influence on our market along with pent up need and wonderful interest rates.
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March of 2012 and year to date are both below last year (15% fewer sales or 14 less homes).
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March, 2011 sales - 92
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March, 2012 sales - 78
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Year to date market is down 9% from last year. (Our market is so small that it doesn't take much to really change the numbers)
I have had several people ask if this is the toughest market I have seen, and the answer is a definite NO! Back in the early 80's, interest rates were 18% and so was unemployment. Today, unemployment is half that and interest rates are less than ¼ what they were then. After surviving those days, this market is manageable! As an example, check out the mortgage comparison on a $100,000 home:
Interest Rate Monthly Pmnt Interest Paid over 30 ys
NOW 3.875% $470.24 $69,285
THEN 18% $1507.09 $442,550
Housing is much more affordable and a lot more people are working. The market still is a price war and a beauty contest - and people are losing money on their homes from what they paid for them in the last several years.
If you are selling and buying in this market - - - as long as you are moving up in price, you still come out way ahead.
A special THANK YOU for referring people our way to the following:
Pastor Tim Crump
Jim Romanski (Realtor, Lafayette, IN)
Deb Widenhofer
We really appreciate the way all of these people have remembered to call us or have their friends, family, & associates call us when in need of our consulting and services. We can spend a lot of money on advertising, but the quality of the business is the very best when referred by people that know and and trust us!
We have an intern, yay! His name is Will Smith and he is in his last year at Millikin University. Will is from Evanston and is majoring in Communications and minoring in IT. Please join us in welcoming Will to our team!
