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ABCNews.com, Existing Home Sales, Prices Off in Sept.

by Nancy Jenkins, CRB, CRS

This AP article outlines the current National Real Estate trends. The market in Vermont is improving with the number of active homes going down.  The peak in Chittenden County was over 595 and now is down to 582, and dropping.  The numbers of deposits is in line with the 2004 statistics and are showing signs of improvement.  The number of showings and offers are up and the bonus is that the Federal Reserve Board did not raise interest rates on Thursday.

How would I view the Vermont Real estate market?  “It is like spring, you can feel the sun is warmer, you can smell it in the air but you still have some time to go before it stops snowing and really warms up”.

I was speaking with Allen Domb one of the nations foremost Realtors, he and other national realtors I polled agree that the change is happening and the last two weeks have been most telling.  As Linda Sandlin, Realtor from Marco Island Florida said, “Our market certainly dropped but I feel like it has hit bottom and is turning upward”.

I did find this quote quite interesting, and certainly do agree,

"The worst is behind us as far as a market correction this is likely the trough for sales," said David Lereah, the Realtors' chief economist. "When consumers recognize that home sales are stabilizing, we'll see the buyers who've been on the sidelines get back into the market."

Good signs for things to come.

-Nancy

Existing Home Sales, Prices Off in Sept.
Sales of Existing Homes Fall Yet Again in September; Median Sales Price Drops by Record Amount

By MARTIN CRUTSINGER

The National Association of Realtors reported Wednesday that home sales fell by 1.9 percent in September to a seasonally adjusted annual rate of 6.18 million units, the slowest pace since January 2004.

The median price of a single-family home fell to $219,800 last month, a drop of 2.5 percent from the price in September 2005. That was the biggest year-over-year price decline in records going back nearly four decades. Home prices had also fallen in August and it marked the first back-to-back declines in 16 years. (read more)

Inc.com, Best & Worst/ Governor Ratings

by Nancy Jenkins, CRB, CRS

I found a few articles on the Inc.com website that you will find interesting.

The first article rates the best and worst states in the country.  You'll be interested to know that Vermont was rated the best in school spending, $11,128 per pupil. To read more, click here.

The second article rates state Governor's. Vermont's Governor Jim Douglas was given a four star rating, the best mark available in this study. Governors were judged in several areas, including: tax and fiscal policy, work force and economic development, health care, education, and regulation. To read more, click here.

-Nancy

CNNMoney.com, Help! Home for sale

by Nancy Jenkins, CRB, CRS
Another good article from CNNMoney.com.

-Nancy

Help! Home for sale
Notes from all over on the difficulties of selling real estate.

By Les Christie, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Home price increases have slowed nationwide and even reversed in many markets. Inventories are up and new home builders are cutting back. More and more sellers are having difficulty selling their properties. 

We've profiled some of these sellers and that has produced a flood of reader emails from other troubled sellers.

Some are from homeowners who live in one-time red-hot markets who not too long ago watched their neighbors sell for huge gains.  (more)

Displaying blog entries 1-3 of 3

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Nancy Jenkins
Nancy Jenkins Real Estate
140 Kennedy Drive, Suite 102
South Burlington VT 05403
802-846-4888
Fax: 802-846-4899