Monday, February 11, 2008

February 11, 2008

Interest Rates fell to 5.5% for a 30 year fixed on February 11, 2008. Mortgage rates have been somewhat strage over the last 14 days or so the took a big drop on the 22nd of January for about 3-4 hours and then bounced back up again. The continue to move around between 5.375% & 5.625% every couple of days.

Current listing inventory - 207 active listings in Owatonna as of today. As we speculated last week many of the expired listings came back on the market and brought the count back up. We are continuing to see strong market activity with the number of showing requests that have been scheduled. In addition our website set a record last month for the most number of visitors since we launched the site 6 years ago. Those are the positive signs that we are looking for.The number of pending listings remained stable at 19 houses. There were 22 properties Closed so far in 2008.

We would like to thank all of you who have e-mailed us or comments on our blog. We are working on bringing a different type of format to the documents that we post here. The new MLS system that we went to several weeks ago has much more capability for us to provide additional information, however we need to learn how to present that information to our visitors. This week we are using a different format and we will continue to experiment as we move ahead. Please continue to give us feedbackvia comments here, by phone 507-390-2121 or email us,

No comments: