Welcome to the October 5, 2008 edition of real estate market reports. This week we have local real estate market reports from all over the United States. The consistent theme seems to be that inventories are very high (though many markets are now reporting inventory levels dropping) and that homes that are priced incorrectly are just wasting the time of everybody involved.
Please comment on this week’s edition of the Real Estate Market Reports Blog Carnival and if you would like a specific market included, please mention it below as well. We aim to please …
Housing Report
Cindy Jones presents Marketing Reports-The Paul Harvey View posted at VA Real Estate Talk, I rarely post market reports. On occasion when an area is on the rise or on a steep decline as the market in Prince William County has been over the last year it is interesting to post a perspective.
Lyn Sims presents So what’s up with the Real Estate Market? Lyn Sims (847)230-7324 RE/MAX Suburban – Hoffman Estates IL Real Estate posted at Lyn Sims – Schaumburg IL Real Estate – Northwest Chicago IL, Illinois Real Estate,, saying, “Prices do not increase when competition to sell is a fierce as it is. Here are some examples of the ‘absorption rates’ for our area. This is fancy speak for ‘Hey – how many homes are on the market and how long with it take to sell on the average’. A ‘good market’ is normally in the 5-6 month range. (This is what Realtors go to church on Sunday and pray for!)”
Tallahassee Real Estate presents Soft 2009 Home Sales Create Buying Opportunities posted at Tallahassee Real Estate Blog, saying, “This is the final “installment” on a three part blog series that was dedicated to predicting home sales in the real estate market for 2009 and beyond. Readers have provided great feedback and it has been a good discussion.”
Dave Peeples presents With logic like this, you might be the next Wells Fargo Short Sale! posted at Dave Peeples, saying, “Just how bad does our housing crisis need to be before people start to get it?”
Local Real Estate Data
Evelyn Johnston presents Elkhart County, Indiana, Cleveland Township, Oakbrook Springs Subdivision posted at Evelyn’s Blog, saying, “Important facts about Elkhart County, Indiana by Subdivision can help you determine where you want to Buy a Home.”
Mike Mitchell presents St. Clair Shores Real Estate Market Report – September 2008 posted at Macomb County Real Estate Blog – Mike Mitchell, saying, “There were 55 home sales that closed in September. The average list price was $101,664. The highest list price was $274,900 & the lowest was $15,750. The average sale price of those 55 transactions was $97,452. The average total days on the market was 175.”
The Tallahassee Realtor presents Changes In Housing Inventory Moving In The Right Direction posted at Tallahassee Real Estate Blog, saying, “The Tallahassee Real Estate Blog has been instructing readers that the first sign of change in the housing market should be noted when inventory levels begin to fall on a long-term trend. I can say, with cautious optimism, that we are starting to see our long-term trend move to falling inventories in the Tallahassee real estate market.”
Jason Crouch presents Travis Heights – Downtown Austin Texas Neighborhood – Home Sales Trends – 2008 posted at Austin Texas Real Estate Blog (and other stuff), saying, “Travis Heights is an eclectic and beautiful neighborhood nestled on the southern edge of downtown Austin, just across scenic Lady Bird Lake south of Riverside Drive. Located very near I-35, Barton Springs, Zilker Park (which is much like Austin’s version of Central Park), and much more, this area offers unique homes, convenience, and a sense of community. The tree-lined streets have always reminded me of something straight out of a movie set.”
Real Estate Market Report
Jo Soss-Olson presents Bremerton WA Real Estate Market Report Recap | August 2008 posted at WestSoundLive!, saying, “Here is the Real Estate Market Activity for January – August 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.
On August 31st there were 551 homes for sale with 4 of those homes listed as a contingent sale and 57 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection. Once the home inspection has taken place these 57 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)”
Kathryn Alexander & John Slocum presents Battle Ground WA Homes & Real Estate Market Report: September 2008 posted at Vancouver WA Homes & Real Estate Blog, saying, “This month has 18 fewer homes in the active category, and the average days on the market showed a several-day increase. For the listings that are agreeing to offers the average time on the market is about 90 & 39 days respectively per lot-size below. In our opinion this area is still very much in a Buyers Market, with an end-of-summer up-tick sales.”
Tallahassee Housing presents Discover A Simple Method To Accurately Predict Future Home Sales posted at Tallahassee Real Estate Blog, saying, “This is my “prediction” for the real estate market in the coming years.”
Pam Dent presents Fluvanna County, Virginia Homes – September 2008 Market Report posted at Pam Dent -Charlottesville, Albemarle,VA’s Blog, saying, “There is a lot of inventory on the market. At the current rate of sales it will take about 21 months to buy down all of the inventory on the market. This translates into alot of choices for buyers.”
Other Information
Short Sale Blogger presents Why Short Sales Exist posted at Dave Peeples, saying, “Peter Schiff gives a very simple and truthful explanation of how loose lending standards will cause artificially higher prices (and he did this 2 Years Ago!). Nobody was listening then, do you think they are now?”
Real Estate Blog presents Discover How The Sub Prime Mortgage Mess Has Destroyed The U.S. Financial Markets – 1 Funny Cartoon For A Not-So-Funny Affair posted at Tallahassee Real Estate Blog, saying, “With all the media’s attention on the $700 Bailout of the U.S. Financial Markets, there has been confusing information (at best) on exactly how we got there. Here is a cartoon that very clearly shows how the Sub Prime Mortgage Market lead us down the road to near financial annihilation.”
Bob Schwartz presents #1 EZ Fix to The U.S. Housing Market posted at San Diego real estate, saying, “An EZ fix of the housing market with a government bailout!”
That concludes this edition. Submit your blog article to the next edition of real estate market reports using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
Technorati tags: real estate market reports, blog carnival.
{ 3 comments… read them below or add one }
Joe, I love how you compile all of the information together. It is a blast to read about other parts of the country.
Thanks Jo. I’m looking forward to when we have each State reporting in with at least 1 market each week. Thanks for the submission.
This is a very detailed post.. It may be concise but it gathered a lot of informations..It really helps me a lot especially in the field of real estate..