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.