Welcome to the January 25, 2009 edition of real estate market reports. We have included great updates from some of the most active real estate agents and brokers around the country. There seems to be a common theme among many of them…. Distressed properties are starting to greatly influence housing prices, as prices seem to be dropping in all but one of the reported markets…. Can you find the one that is appreciating?
Housing Report
Taunya Fagan presents Bozeman Montana Number Nine in 2009 For Home Appreciation? posted at Taunya Fagan Bozeman Real Estate Blog, saying, “According to Housing Predictor, the collegiate, skiing, fishing, outdoorsy little city, Bozeman, Montana is tagged as a top ten US real estate market for home appreciation in 2009!”
Joe Manausa presents Tallahassee Housing Market News | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “Every month, we publish the Tallahassee Home Inventory Report which breaks Leon County into four quadrants and reports the “months of supply” of homes in each quadrant, by price range. The report actually has some good news this time!”
Lisa Heindel presents Westwego, Avondale and Bridge City LA: 2008 Home Sales Year in Review posted at Lisa’s New Orleans West Bank Blog, saying, “There was an error in how the monthly sales reports were being pulled for Westwego, Avondale and Bridge City that resulted in inaccurate information for 2008. The error has been corrected and you can be assured that the end of year sales information is as accurate as possible. That said, let’s take a look at how the communities fared for the year.”
Diane Aurit presents Lake Norman January 23, 2009 Hot Sheet! posted at Lake Norman Real Estate – Diane Aurit, saying, “New Listings have jumped up to the levels of last July. At a time of significantly high levels of inventory of homes for sale in Lake Norman, this is not a positive sign. This indicates that sellers are following traditional trends and putting their homes up for sale for the spring. Unfortunately, this will only further exacerbate our struggling real estate market.”
Local Real Estate Data
Ellen Crawford presents Howard County MD Real Estate Report – December 2008. Real Estate Trends for Howard County Maryland posted at Ellen Crawford CRS Northern Virginia Real Estate Blog. Virginia Homes, Sales, Real Estate Services!, saying, “Howard Maryland Homessales are driven by the distressed nature of the market. Bank owned, short sales, pre-foreclosures are bringing prices down dramatically. Howard County has held up better than most.”
Jo Soss-Olson presents Kitsap County Real Estate Market Data 2007 vs 2008 posted at WestSoundLive!, saying, “Today I was doing some market research and decided to compare 2007 and 2008. Not too indepth but just to see the solds and some price information. Here is what I found for Kitsap County. After my head stops hurting I will post some on the individual areas just so you can see how each city area compares. I have compiled figures for Silverdale, Bremerton, Port Orchard and Poulsbo.”
Petra Norris presents Lakeland Florida – Review of December 2008 Real Estate Market posted at Lakeland Real Estate Blog…not always Real Estate, Petra Norris Style, saying, “Lakeland Florida’s local real estate market – monthly report”
Jim Lee presents Was 2008 a good year for Knoxville real estate? posted at Knoxville Tennessee Real Estate Blog, saying, “The long awaited 2008 residential sales figures are now available from the Knoxville Area Association of Realtors. now we’re able to see how the Knoxville area fared in 2008 compared to our previous years.
First chart is the total number of units sold. That’s total single family residences and condos sold in 2008 by Knoxville area Realtors.”
Joe Manausa presents Tallahassee Home Building | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “We have seen the average monthly single family permit activity drop to a level lower than at any time since I have been tracking it. This is absolutely terrible news for the new home construction industry (and all the people who work in or on the fringe of that industry), but it is also what the housing market needs to return to a normal balance of supply and demand.”
Real Estate Market Report
Lenn Harley presents PRINCE WILLIAM COUNTY VIRGINIA REAL ESTATE PRICES are the best buy in 5 years. posted at Lenn Harley, Broker, Homefinders.com in Maryland and Virginia, saying, “HOME PRICES DOWN DRAMATICALLY IN PRINCE WILLIAM COUNTY DECEMBER 2007 TO DECEMBER 2008. Home buyers have real buying power today with low interest rates and many homes on the market.”
Bob Schwartz presents San Diego real estate blog » San Diego Real Estate Appreciation Up 100%+ posted at San Diego real estate, saying, “San Diego home appreciation of 2000 to 2005 (100%+) made all but a few cautious investors into something very much like a Madoff investors: If you thought about it, you realized something had to be wrong (how do San Diego home prices double, when San Diego household income is essentially static?) . . . but doubting didn’t pay; the small band of doubters were the ones gloomily renting condos while all the fun was being had by more aggressive sorts.”
Bob Southard presents Foreclosures 837 – New construction 8 posted at Bob Southard – Cobb,Fulton,Douglas, & Paulding Comments and Ramblings.
Joe Manausa presents Tallahassee Real Estate Market Improvement | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “December was down again, compared to December of 2007, but that was already expected as we have explained in previous blog posts on the Tallahassee Real Estate Blog. So, if December was down (again), what are the reasons that lead us to believe we’ll see improvement in the Tallahassee real estate market in 2009?”
Kim Adamof presents 2008 Market Update for Raleigh Real Estate posted at Raleigh Real Estate.
Haydee Sampiano presents Torrance Real Estate Market Recap for 2008 posted at HHC South Bay Real Estate News, saying, “The final numbers for the Torrance real estate market in 2008 are in and although it was a tough year for home sellers there were some interesting market developments towards the end of the year that may indicate a brighter 2009 for sellers.”
Haydee Sampiano presents Manhattan Beach Real Estate Market Recap for 2008 posted at HHC South Bay Real Estate News, saying, “The final numbers from the South Bay Association of Realtor for the Manhattan Beach real estate market in 2008 reveal just how tough a year it was for home sellers. The year started with a less than stellar 14 home sales (single family homes, condos/townhomes, and residential income) for the month of January and ended with 14 sales in December.”
My Woodstock presents Home Sales Rebound posted at Marjorie’s Blog, saying, “Home Sales Rebound in St. Augustine Florida”
Other Information
Jim Crawford presents What’s Taking Place in Your Real Estate Market? posted at Atlanta Real Estate Blog – Jim Crawford REMAX Greater Atlanta, saying, “I know in many markets sales are increasing, but the average price is still declining. That means the sales are lead by distressed properties. In Atlanta both price and sales are still in decline.”
Joe Manausa presents Real Estate Sales Success | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “When trying to get a handle on supply and demand dynamics in a local housing market, the Multiple Listing Service (MLS) is the only data source that contains both supply and demand information with limited bias. Some sites on the internet have samples of the market, but they are biased by the error of selective entry.”
Sue Botelho presents USDA Does NOT Lend Money – So How Can They Be Out??? posted at Sue’s Blog, saying, “It is amazing to me to see how many phone calls we are getting from around the country asking how we can still do USDA Rural Housing loans since they are “out of money”! It is a misconception that the USDA lends money – they don’t! Their role in the USDA Rural Housing Loan is to guarantee (insure) the loan against default. That is why the have the 2% funding fee as opposed to monthly mortgage insurance.”
walter wallace presents Releasing a Federal Tax Lien posted at Wally’s World of Taxes.
David Pylyp presents How old for your First House? Toronto posted at David’s Blog, saying, “With the mortgage terms and affordability as the biggest impediment to home buying a number of down payment programs can be created just for you thru the RBC Preferred Client Program. Amortizations have been shortened from the 40 year plan down to a 35 year amortization maximum.”
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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