Mid-Ohio_Valley Real Estate

In February, 2011, I looked at our Mid-Ohio Valley Multiple Listing Statistics on Foreclosures trying to determine their importance in our market.

When I posted on 2/18/11, 10% of our current residential listings were foreclosure type homes for sale; while 18% of the pending sales were foreclosures.

I just repeated that search today, approximately 6 months later, not knowing what to expect.

The results indicate that 4.49% of our properties that are currently for sale are foreclosures and 9.3% of the pending sales are foreclosures.

As you can see that is about half of what it was six months ago.

In the year to date statistics, the number of units of sold residential foreclosure properties has been 13.45% of our market so far this year.

So it appears that this is good news, that these properties are working their way through the market and being sold.

We do have a search field in our MLS now where it is easy to send out those listings as a group to anyone interested.

If you want to take advantage of low interest rates to purchase one of these homes in the next few months, email me for a list of them. I am happy to send it to you.

Good news!

Kay Munchmeyer

You may be asking yourself these questions next year or in ten years like many of us know who are a little bit Senior have done in the past.

With home prices quite attractive and interest rates at an all time low currently 4% for 30 years, there may be quite a few of us asking that question.

If you are waiting to buy your family a home, consider this: at 4% for 30 years, the principal and interest payment on $150,000 is $716.12 while at 6% the payment is $899.33, a difference of $183.21 a month, and at 8% it is $1100.65. That $150,000 loan requires an annual income of $31,000 approximately. Some of us remember interest at 18-21% and to us the current rate is amazing!

Adding an investment property at this time can improve your future wealth position when sold in the future while letting the renter make the payment.

And contrary to what you read, houses in this area are selling! In August of this year, sales were up 40% over last year in August. Year to date sales were up 10.1% over last year in units sold, and 9.9% in sales volume closed.

Most all of our communites had increased sales over last year. Most all price ranges had increased sales over last year.

So think about doing some looking this Fall and don’t look back wishing- If only!

Kay Munchmeyer