On July 10-12, I was privileged to sponsor the Rochester Adult Open Tennis Tournament here is Rochester Minnesota.

The weather was ideal and some amazing tennis was played in every age group. I've downloaded a number of photos to my facebook account and am working on getting them to my website at www.sylviarogers.edinarealty.com. Look for those in the coming days.

Rochester market is going well this summer.Currently Rochester has 1041 homes for sale with the breakdown as follows:

Northwest-473

Northeast-179

Southwest-224

Southeast-165

We are holding with 215 homes that have gone pending. As of today the interest rates are steady at 5.125% on a 30 year fixed conventional mortgage. FHA/Va are running at 5.250%

First time home buyers are taking advantage of the $8000 tax credit available until November 31, 2009. No word yet on any extension to be given by the present administration.

A reminder to everyone to stop by the Kutzky Park this weekend July 10, 11, 12 and watch the Rochester Open Tennius Tournament! I'm sponsoring the event and have arranged a concession stand to be there all weekend. We'll have burgers, bagels, gatorade, turkey etc. Come enjoy some great tennis and teh fun Kutky Park play area.

See you there!

The market in Rochester has steadily grown over the past few months. With new Mayo Clinic residents and PhD candidates arriving in June, homes sales in the first time buyer range have dramatically increased. It is also a benefit having the first time buyer tax credit of up to $8000. Buyers should also be aware that they may file an addendum to the IRS and still may be able to get the tax credit event though taxes have been filed for the year. As always, consult your accountant first.

Currently in Rochester we have 1,083 homes listed as active on the market. This includes all areas and price ranges. As of January 1, 2009 The NW quadrant of Rochester is still the most active with 522 current active listings, 164 pending and 146 sold at an avg price of $161,967. These homes averaged 127 days on the market. the SW quadrant ranks second in active listings at 234 with 45 pending and 56 sold. The avg. sales price in the SW is higher at $250,838 and averaging 159 days on the market.

In the SE we have 183 homes active with 37 pending and 65 sold. These sold homes have an avg price $128,143 and averaged 129 days on market. Rounding out our city is the NE quadrant with 160 current active homes, 35 pending and 46 sold. The sold homes are averaging $177,305 and are spending an average of 161 days on market.

Interest rates continue to remain steady at an all-time low. Credit scores are crucial to getting the best possible rate. it is always a bonus to have a significant cash down payment as well. Fiscal responsibilty is key.

If you dream of owning your own home but feel you can't afford it you may want to look into this offer of up to a $7500 tax credit as part of the "Housing and Economic Recovery Act of 2008". Obviously this is for qualified first time home buyers. There are some stipulations of course. You must be planning on living in the home as your primary residence and have not owned a home in the last three years.  The tax credit must be repaid but you have 15 years to do so. The credit is good for homes bought before July 1, 2009 and is available on single family homes, condominiums, town homes, existing homes and even new construction homes! Buyers are excited to take advantage of this wonderful offer and I recommend talking with your tax advisor and lender to learn more about this great offer! There are also down payment assistance programs for qualified buyers as well. The contact you Realtor to find your new home!  We want you to live the American dream of owning your own home. Remember, if you're renting you ARE buying a home...it's just not YOUR home. Here's wishng everyone a Happy New Year! It's going to be a great 2009!