We hope you all had a wonderful Thanksgiving. We sure did. It seems the older I get the more thankful I am to have such a wonderful family and friends. Almost 15 years ago while I was in high school (yikes) we were fortunate enough to host an exchange student from Heuhuetenango, Guatemala, not realizing at the time how precious this friendship would become. It was a leap of faith, I had met Grethel in one of my classes and heard that she needed a new host family for the next couple months. I went home and just happened to mention this to mom and she was in. What an awesome coincidence. Over the years we have kept in touch some years more than others. Grethel and I were 16 and 18 at the time and in high school, now with 2 children of our own we once again have re-connected. We were fortunate enough to get together this Thanksgiving as her entire family has come to visit. It is truly amazing that we can go so long and pick up right where we left off. They are absolutely amazing people and we are so blessed to have them in ours lives. We hope that your family is just as fortunate as we are to have such special people in your lives.
Sincerely,
- Kari
Monday, November 26, 2007
Thursday, November 8, 2007
Some Statistics
Slow Market?
Since January 1st, 2007
323 Homes were SOLD in School District 200
23 Homes are Pending ( To Be Closed)
Single Family = 201
Townhomes = 122
Price Range Homes Sold In Hastings in 2007 (School District 200)
$0-200,000 Range = 56 Single Family
$0-200,000 Range = 100 Town homes
$201,000-250,000 = 63 Single Family
$201,000-250,000 = 12 Town homes
$251,000-300,000 = 33 Single Family
$251,000-300,000 = 7 Town homes
$301,000-350,000 = 10 Single Family
$301,000 + = 3 Town homes
$351,000-400,000 = 13 Single Family
$401,000+ = 27 Single Family
We have a total of 23 properties Pending ( Sold but Not Closed)
The Past 5 years SOLD properties in School District 200 (Hastings)
2006 = 359 Homes for the year ending 12/31/2006
2005 = 479 Homes for the year ending 12/31/2005
2004 = 471 Homes for the year ending 12/31/2004
2003 = 404 Homes for the year ending 12/31/2003
2002 = 354 Homes for the year ending 12/31/2002
It appears that the market has dropped off to where it was just 3 or 4 years ago. Is that so bad?
3 and 4 years ago Buyers were standing in line to purchase a home
Today Sellers are standing in line to sell a home.
Buyers have pulled away from the market in fear that they may be paying too much for a
home and may have a difficult time selling in the event that they would need to do so.
Not to worry, the market WILL swing your direction in the near future.
INTEREST RATES HAVE REMAINED AROUND 6% - 0 DOWN LOANS
ARE STILL AVAILABLE. SELLERS CAN PAY CLOSING COSTS FOR BUYERS.
We know that in the previous 10 years homes had appreciated far too quickly.
The market is just leveling out and 5 years form now when we do the
statistics for the past 50 years you’ll see the average being exactly as they had been
for the previous 40 years.
For now, there are bargains in the marketplace. Foreclosures are abundant and some
Sellers need to sell and have priced their homes accordingly. Take advantage of the present
situation (it will be short lived) and get yourself out into the market to check things out.
Since January 1st, 2007
323 Homes were SOLD in School District 200
23 Homes are Pending ( To Be Closed)
Single Family = 201
Townhomes = 122
Price Range Homes Sold In Hastings in 2007 (School District 200)
$0-200,000 Range = 56 Single Family
$0-200,000 Range = 100 Town homes
$201,000-250,000 = 63 Single Family
$201,000-250,000 = 12 Town homes
$251,000-300,000 = 33 Single Family
$251,000-300,000 = 7 Town homes
$301,000-350,000 = 10 Single Family
$301,000 + = 3 Town homes
$351,000-400,000 = 13 Single Family
$401,000+ = 27 Single Family
We have a total of 23 properties Pending ( Sold but Not Closed)
The Past 5 years SOLD properties in School District 200 (Hastings)
2006 = 359 Homes for the year ending 12/31/2006
2005 = 479 Homes for the year ending 12/31/2005
2004 = 471 Homes for the year ending 12/31/2004
2003 = 404 Homes for the year ending 12/31/2003
2002 = 354 Homes for the year ending 12/31/2002
It appears that the market has dropped off to where it was just 3 or 4 years ago. Is that so bad?
3 and 4 years ago Buyers were standing in line to purchase a home
Today Sellers are standing in line to sell a home.
Buyers have pulled away from the market in fear that they may be paying too much for a
home and may have a difficult time selling in the event that they would need to do so.
Not to worry, the market WILL swing your direction in the near future.
INTEREST RATES HAVE REMAINED AROUND 6% - 0 DOWN LOANS
ARE STILL AVAILABLE. SELLERS CAN PAY CLOSING COSTS FOR BUYERS.
We know that in the previous 10 years homes had appreciated far too quickly.
The market is just leveling out and 5 years form now when we do the
statistics for the past 50 years you’ll see the average being exactly as they had been
for the previous 40 years.
For now, there are bargains in the marketplace. Foreclosures are abundant and some
Sellers need to sell and have priced their homes accordingly. Take advantage of the present
situation (it will be short lived) and get yourself out into the market to check things out.
Wednesday, November 7, 2007
November
The weather sure is saying Winter - I'm not ready
Just in case you haven't heard the school levy did not pass.
In the housing sector we are experiencing a bit of a slow down.
Although, Buyers are beginning to take a look at the many foreclosures out there and
are beginning to realize that there are bargains in this market place.
Interest rates are low (6% - 6.125%) It is my experience that when the weather turns colder,
less buyers are looking and interest rates decline. Go figure! It's all about supply and demand.
Too much inventory, hungry loan originators and willing sellers.
If you think you are going to buy in the near future it is time to get qualified by a
lender and check out the market.Be ready! That's my motto. The time to buy for you just may be sooner than you think.
Have a great day!
Just in case you haven't heard the school levy did not pass.
In the housing sector we are experiencing a bit of a slow down.
Although, Buyers are beginning to take a look at the many foreclosures out there and
are beginning to realize that there are bargains in this market place.
Interest rates are low (6% - 6.125%) It is my experience that when the weather turns colder,
less buyers are looking and interest rates decline. Go figure! It's all about supply and demand.
Too much inventory, hungry loan originators and willing sellers.
If you think you are going to buy in the near future it is time to get qualified by a
lender and check out the market.Be ready! That's my motto. The time to buy for you just may be sooner than you think.
Have a great day!
Thursday, November 1, 2007
Halloween & the Interest Rates
Well we survived yet another cold and windy Halloween. We sure are feeling sorry for the teachers today with all the kids on a sugar low. That's not the only low that went on this week.
The fact that interest rates went down yesterday is a great sign for all buyers who have adjustable rate mortgages that are soon to be readjusted. Hopefully the mortgage rates will soon follow and be reduced a bit. So far this has not happened, Interest rates are hovering around 6.25%. FHA is looking at doing a zero down loan also. That should happen pretty soon, we'll keep you informed.
Hope you all had a great Halloween!
Take Care
-Mary and Kari
The fact that interest rates went down yesterday is a great sign for all buyers who have adjustable rate mortgages that are soon to be readjusted. Hopefully the mortgage rates will soon follow and be reduced a bit. So far this has not happened, Interest rates are hovering around 6.25%. FHA is looking at doing a zero down loan also. That should happen pretty soon, we'll keep you informed.
Hope you all had a great Halloween!
Take Care
-Mary and Kari
Tuesday, October 23, 2007
The Forclosure Auction
It seems that there is a lot of buzz on the foreclosures in the area. Well I decided to check it out.
On Sunday I went to the Mlps convention center to see what this was all about. It was very interesting to say the least. You would think that people would get a steal on these properties, however I did find out that most houses sell at there value. Value is defined as the price a willing buyer will pay. By the time the house was purchased and a 5% fee added plus buyers paying closing costs it wasn't much different than any house you can buy on the market today. Of course there were some bargains, but these same house would be a bargain on the regular market. As at any Auction it is the hype that get people going. It was fun and interesting, if you want to know more just call Me.
Sincerely,
-Mary
On Sunday I went to the Mlps convention center to see what this was all about. It was very interesting to say the least. You would think that people would get a steal on these properties, however I did find out that most houses sell at there value. Value is defined as the price a willing buyer will pay. By the time the house was purchased and a 5% fee added plus buyers paying closing costs it wasn't much different than any house you can buy on the market today. Of course there were some bargains, but these same house would be a bargain on the regular market. As at any Auction it is the hype that get people going. It was fun and interesting, if you want to know more just call Me.
Sincerely,
-Mary
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