Several local homeowners are no doubt disappointed by the lack of potential buyers in the market. According to the following article in USA Today, existing home sales fell 1% in April compared to one year ago... the midwest saw a 6% decline. Meanwhile, the number of homes for sale on the market is 'surging'.
Find the details in the following USA Today article. There is a little bit of a rosy outlook (for homebuyers), but you have to read all the way to the end!
http://www.usatoday.com/money/economy/housing/2008-05-23-existing-home-sales_N.htm
In my opinion, there is no better time to consider selling fsbo. After getting a professional appraisal of your home, you can be much more flexible with your price- knowing you won't have to pay a six percent realtor commission.
Saturday, May 24, 2008
Wednesday, May 21, 2008
More on Mortgages
A few days ago I blogged about my conversations with some local mortgage lenders discussing a decline in applications this spring. Today, I see this related article at USAToday.com
http://www.usatoday.com/money/economy/housing/closetohome/2008-05-21-mortgage-demand_N.htm
http://www.usatoday.com/money/economy/housing/closetohome/2008-05-21-mortgage-demand_N.htm
Monday, May 19, 2008
Mason City Housing Market
While the housing market in Mason City and North Iowa isn't experiencing a severe value decline as in other parts of the country, the market is definitely soft.
I've spoken to several mortgage lenders in the past few weeks. All of them agree that fewer people in general are applying for mortgages locally compared to one year ago. No longer do buyers enjoy 100% loan programs. They're needing more money down.
According to one mortgage lender "The market is definitely softening. Values are not as high so owners are hanging on to their current homes."
The good news for buyers with good credit, interest rates are still under 6%. A great time to buy if you have your ducks in good order!
I've spoken to several mortgage lenders in the past few weeks. All of them agree that fewer people in general are applying for mortgages locally compared to one year ago. No longer do buyers enjoy 100% loan programs. They're needing more money down.
According to one mortgage lender "The market is definitely softening. Values are not as high so owners are hanging on to their current homes."
The good news for buyers with good credit, interest rates are still under 6%. A great time to buy if you have your ducks in good order!
Sunday, May 4, 2008
April 2008 Best Month Yet!
Just wanted to let North Iowa real estate owners know that April 2008 was our best month yet for visitors to http://northiowahobo.com!
We averaged a total of 3,581 unique visitors, or approximately 119 per day. These potential homebuyers also opened a whopping 12,601 pages full of information about homes for sale by owner in North Iowa.
That beat our previous record-holding month of July 2007 which averaged 107 visitors/day.
We averaged a total of 3,581 unique visitors, or approximately 119 per day. These potential homebuyers also opened a whopping 12,601 pages full of information about homes for sale by owner in North Iowa.
That beat our previous record-holding month of July 2007 which averaged 107 visitors/day.
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