Welcome to the December 14, 2008 edition of Real Estate Market Reports. Every week real estate professionals from all over the country report localized information about their residential real estate markets, and lately the reports have been consistently negative from coast to coast. But not this week! Renee Burrows reports that the Las Vegas Valley is showing great year over year improvements and DavidPylyp points out the strong local economy in Toronto has it poised for a strong year.
Housing Report
Renee Burrows presents Real Estate Blog – Las Vegas, NV Area November 2008 Area Pendings Report: Absorption Up Slightly posted at active rain, saying, “The Las Vegas Valley (includes Henderson & North Las Vegas) has seen some major market stabilization in the last year! Absorption for December 2008 is a healthy 8.6 months of inventory (compare it to 22.5 months inventory in Nov/Dec 2007!)”
David Pylyp presents Will the Spring Market Last 13 Seconds? posted at David’s Blog, saying, “Housing is based on confidence. Confidence in your job, your home life and your financial security. Where and What you will buy is based on your family need. Interest Rates starting in 2009 will be the lowest they have been in the last 50 years.”
Joe Manausa presents Tallahassee Home Inventory Report | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “The final Tallahassee Residential Real Estate Inventory Report for 2008 has been published and can be downloaded, as usual, from the Century 21 First Realty Web Site. This great monthly housing report allows one to see the current months of supply of homes by price range in the Tallahassee real estate market.”
Tracy Santrock presents Cary NC Luxury Home Market Report posted at Raleigh, Cary, Apex NC Real Estate Blog, saying, “I knew the market was soft but the numbers really tell the story. Since I live in Cary I wanted to break the numbers down even further to see what is selling and at what price ranges.”
Local Real Estate Data
Bob Schwartz presents San Diego October Condo Prices posted at San Diego real estate, saying, “In a graph, www.brokerforyou.com looked at selected San Diego neighborhoods that had 10 or more closed condominium sales in October 2008 & October 2007. We compare the 12 San Diego neighborhood’s condo resale value changes for this one year period.”
Brien Berard presents More Homes Selling In Laurel MD posted at Laurel & Silver Spring MD Blog, saying, “Third quarter results show that sales are picking up in Laurel Maryland and surrounding areas.”
Carol Zingone presents Jacksonville Beach Market Data 11/08 posted at My Insight Into NE FL, saying, “Active listings have decreased by 9% year to year, which indicates unmotivated sellers pulling their listings off the market, which is a good thing. The pending listings this month are UP DOUBLE year to year, which is terrific. The sold listings are also UP about 40% from 2007 to this year.”
Rob Arnold presents Orlando market statistics for November 2008 orange county fl & Apopka posted at Central Florida Orlando Real Estate – full service & investor friendly Realtor specializing in foreclosure, short sale, & bank owned REO houses, saying, “The November 2008 market stats have been released by the Orlando Regional Realtor Association (R) for Orange County & Seminole County. The month of November is typically a slower time of year as it starts the holiday season. So there are less people buying and typically less pending contracts and closings. These numbers show nothing unusual. Listing inventory continues to decrease ever so slightly. The number of new pending contracts and closings is less than previous months which is not a surprise.”
Brien Berard presents Home Sales In Laurel MD 20707 For November posted at Laurel & Silver Spring MD Blog, saying, “Homes sales this November 2008 as compared to last November 2007 in Laurel Maryland zip code 20707.”
Lyn Sims presents Top Selling Hoffman Estates Subdivisions by Price – Lyn Sims (847)230-7324 – Hoffman Estates Illinois Real Estate posted at Lyn Sims – Schaumburg IL Real Estate – Northwest Chicago IL, Illinois Real Estate,, saying, “Hoffman Estates Illinois Top Subdivisions”
Joe Manausa presents Real Estate Value | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “We should consider the fundamental question, a very important question, “If wages are up 5% in the past five years, how is it that buyers can afford to pay 40-80% more for a home?””
Lyn Sims presents Hoffman Estates Illinois Homes – Hoffman Estates IL Real Estate – Lyn Sims (847)230-7324 REMAX Suburban posted at Lyn Sims – Schaumburg IL Real Estate – Northwest Chicago IL, Illinois Real Estate,, saying, “Homes for sale in Hoffman Estates Illinois”
Brien Berard presents November Home Sales Laurel MD 20708 posted at Laurel & Silver Spring MD Blog, saying, “Home sales in Laurel Md 20708 continue to show the correction is ongoing. For more information visit www.mymarylandcastle.com.”
Missy Caulk presents Ann Arbor and Saline Residential Market Reports, November 2008 posted at Ann Arbor Real Estate Talk, saying, “Homes ARE selling in Ann Arbor and Saline, Michigan. In fact after a slow October and November, the market picked up in late November and two weeks before Christmas is rolling along. Perhaps the people decided it was time to buy and got out of “fear” mode throughout our nation.”
Real Estate Market Report
Cindy “in Indy” Marchant with Keller Williams in Fishers Indiana presents Indianapolis/Fishers Real Estate » Blog Archive » Fishers Real Estate Market Report by Quarter through November 2008 posted at Fishers Real Estate, saying, “Fishers Indiana has a population of 66,000 and growing. It is a suburb just north of Indianapolis Indiana
It was named by Money Magazine as one of the best places in the country to raise a family.”
Gita Bantwal, ReMax Centre Realtors presents Real Estate Blog – Warwick township Bucks County, Real Estate Market report November 2008. posted at Philadelphia, Bucks and Montgomery Counties Real Estate. Tips for home buyers, home sellers by Gita Bantwal,Realtor at ReMax Centre Realtors., saying, “Warwick Township is located in Central Bucks School District. Homes priced right are selling . There are some great buys available in all price ranges.”
Joe Manausa presents Real Estate Supply And Demand | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “There are so many distractions that can lure us away from our study of the real estate market and finding the direction of the market. With inaccurate reporting, hype, and media blitzing, it is a wonder anyone really knows what’s going on at all.”
Doug Willis presents Pasadena Real Estate Report on November Home Sales posted at Up2Date.
Christine Donovan presents Costa Mesa Real Estate Minute December 12, 2008 – Mesa Verde Costa Mesa Market Report posted at Costa Mesa’s Neighborhood Blog, saying, “Based upon general definitions, it appears that the Mesa Verde area of Costa Mesa should be in a Sellers’ Market though it still appears to be a Buyers’ market. Given all that is going on in the credit market and the banking industry, we are in an unusual time and will have to see what happens over the next few months as things hopefully begin to stabilize.”
David and Kristin Small presents Real Estate Market Report for Carolina Willows in Carolina Forest of Myrtle Beach posted at Myrtle Beach Real Estate Blog, saying, “Here is the market report for Carolina Willows in Carolina Forest of Myrtle Beach, SC. This report is current as of 12/12/08.”
Other Information
Joe Manausa presents What Is A RSS Subscription | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “Have you ever noticed that anytime you read a blog, there is a Subscription Button that encourages you to subscribe to it? Well, I have been questioned about this a few times and thought I’d write a post about how and why you should subscribe to the Tallahassee Real Estate Blog.”
Brian McKay presents Mortgage Rates Finally Fall posted at MonitorBankRates.com, saying, “The Federal Reserve Bank has been consistently lower rates to jump start the economy but mortgage rates have barely gone down because of the housing crises, that is until last week.”
Melissa presents SHOULD I HAVE MY HOME FOR SALE DURING THE HOLIDAYS? Sarasota real estate posted at Sarasota Real Estate Expert Blog.
Bob Schwartz presents San Diego Real Estate Bust of 1945? posted at San Diego real estate, saying, “This real estate bust is NOT fair! Already the California legislature is considering a four month moratorium on foreclosures. In July, a new California law requiring lenders to try a number of times to contact homeowners prior to filing a notice of default has delayed the foreclosure process by 30 days. Plus, Obama is said to be in favor of a 90 nationwide foreclosure moratorium. With the average mortgage payments in San Diego running about $2,000 a month, who is paying for these moratoriums?”
Jesse Wojdylo presents Six Straight Weeks of Mortgage Rate Declines posted at Subprime Blogger.
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.
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