McDowell Mountain Ranch Home Sales Report for September 2010
Home closings continued their slow trend in September with 11 homes closing escrow. That is up from 9 in August, but the next lowest months were Jan and Feb at 17 each. So home closings are way down.
However, Pending home sales, homes under contract, jumped to 50. That was a 35% increase. Homes listed for sale dropped to 94, down 3%.
The average price per square foot dropped to 167.00 or down 4.8% from the previous month. Part of that can be due to the low amount of sales and possible product mix issues. But prices are continuing to decline. They are down from 192.39 per sf in January or 13.2% YTD. But again this is just the average price per square foot. Probably one of the better measurements of value.
Those are the numbers. But what is happening in McDowell Mountain Ranch? Honestly prices are all over the board. For example, the La Palma Floor plan in Sienna Canyon at MMR
Last 2 sales $500k and $605k, can you guess which was a short sale? It was also a nicer home.
Pending $360K, $515k and $550K…The good news is there are none available!!!
Short Sales are dominating, which is disappointing because they run prices down. Fundamentally, if I could sell you a book today and you get it today, you most likely would pay more than if I sold you a book today and said you might get it in 3 to 9 months. Oh, and BTW with houses you have all time low interest rates. They really can’t go much lower and have no where but up to go. Think about it. A buyer can get 4.3% today. If rates went up to 5%. Only 5%. That would be a 16% increase on the interest the buyer is paying. That is HUGE and that is why Short Sales are sold below market value.
Are you a buyer looking to purchase a Short Sale Home at a Great Price? If so, you want to be aware of the fact that some listing agents continue to search out other buyers, keep the home on the market for sale, have other offers and when they get a response from the bank they go back to ALL the buyers looking for highest and best. When you buy a Short Sale, you want an agent that knows the ins and outs. What to look for to secure as the only buyer for that home, The Cameron Team and our buyer specialists are experts in Short Sales and Bank Owned Foreclosure homes. We know the tricks and are your best choice. Call 480-502-7699 or email Jeff@TheCameronTeam.com
Are you a Seller Looking to sell your home in a Short Sale? Before you act, know your options. We have videos that walk you through the process in the privacy of your own home at what every time you wish to watch as many times as possible!
the links below will take you there:
Before Foreclosure and Short Sale: What are my Options?
Before Foreclosure and Short Sale: Save my Home!
Before Foreclosure and Short Sale:
Before Foreclosure and Short Sale: Save my Credit Through Short Sale
Before Foreclosure and Short Sale: Last Step – How to Clean up My Credit!
Or for a Free 1 hour consultation and a referral to an Attorney for 5-10 minute Free consultation call me at 480-502-7699 or click here to contact me!
480-652-2004