Our "marketnews" Feed
15 Dec 2011 13:33
Graeagle Real Estate - No Immunity From Foreclosures and Lower Values
FeedBack ( 0) The sign of the times has hit the charming town of Graeagle hard as well, making a home purchase in Graeagle a fantastic buy, with values dropping again significantly since 2009. Most buyers are opting to purchase existing homes versus buying lots and building due to the high cost of construction.
Overall, YTD, there have been 22 sales in the Graeagle area, up from 19 during the same time period for 2010. However, values are down by 13% with an additional 2 foreclosure sales from last year. The days on market (DOM) for 2011 was an average of 329 days, up from an average of 221 DOM in 2010. In 2011 there was one sale just over $500k (my listing) with most sales $345k and below (15 sales under $200k). Prior year had one sale at $555k (my sale) with most sales $409k and under with the majority of sales (11) under $200k.
How I see it: This is a great time for buyers to come off the fence now, and in the near future, with more foreclosures looming in the pipeline.
Call me today to receive your listing of great buys in Graeagle and beyond!!
October Foreclosure Activity Nationwide
Foreclosure activity increased in October
Foreclosure filings increased 7 percent compared with September, according to the latest report from RealtyTrac.
Including notices of default, scheduled auctions, and bank repossessions -- of which all increased month-over-month -- filings were reported on 230,678 U.S. properties in October.
Defaults in California, Florida, and Michigan all rose to their highest levels in at least a year. California notices of default increased 17 percent from the previous month to 29,240, pushing the state's foreclosure rate to the second highest in the nation.