Friday, February 22, 2008

February 22,2008

Interest Rates rose to 6.0% for a 30 year fixed on February 22, 2008. Lenders have not been willing to lower rates right now, but we did hear today that one major lender is going to be concentrating efforts on purchases rather that re-fis. That is very good news.

Current listing inventory - 210 active listings in Owatonna as of today. Showings have begun to pick up again and we are hoping for a good turnout at Open Houses tomorrow.
The number of pending listings remained rose slightly this week to 26 houses. Again this is a good sign as we continue to see the pending count rise it means homes are receiving acceptable off to purchase. There have been 24 properties Closed so far in 2008. The under $200,000 market has been the strongest so far this year. Almost 80% of the homes sold so far in 2008 have fallen in this price range. Only 3 homes above $209,900 have closed in 2008. If your home is on the market and you are just over that $200,000 price break (and I know there are a few of you out there, I've looked at the active listings), it might be a good idea to talk with your real estate professional about a new price

We are still working on some new format for the documents we post here as well as some additional statistics. Please continue to give us feedback via comments here, by phone 507-390-2121 or email us,


Anonymous said...

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etc, etc... (9 AM 2/23)

The Bartley Group said...

Thank you for letting us know the link was not working, Not sure why it wasn't but we have replaced them and they are working now