Sunday, October 4, 2009

Apple Valley Real Estate News

Hello Blog Fans,

It’s been awhile since my last blog and the news just isn’t getting better for buyers, so I’m pulling my head out of the sand so to speak and talking about what’s happening instead of ignoring it and hoping it will get better.

What the news is, there is a lack of inventory on market.

There are 288 houses listed in Apple Valley today on
44 are short sales
186 are real sellers, not shorts sales and not bank owned.
Now of the homes that are standard sales, under $300k, the average price per square foot asking is $106.61.

There are 296 sales pending.
There are 44 sales contingent. That word in today’s market most likely mean paperwork is out and will be signed shortly.

For the last month there were 93 sales.
The average home was 1817 sq. feet.
The average sale was for 66.49 a square foot.
Average days on market 62.
Median sale price $110.000.
Average sale price to listing price 99.98%.

The biggest problem we are facing after we get an accepted offer is making appraisal. If you are a buyer looking at a bank owned property under $70 per square ft. you can expect multiple offers. It’s tough stuff right now for buyers.
Find an agent that will keep working with you and be prepared to write multiple full price offers and over asking price offers.

I normally close by saying happy house hunting.
To find a deal right now you must stay positive and keep at it. It will be worth the effort.

Happy Housing Hunting,

From Karen @ Hamilton Landon GMAC in Apple Valley, CA