The Week in Review
.....your Wilmington Connection
December 7, 3008
Keller Williams had their 2nd Annual Fashion Victims Ball last night.It was a success with alot of hard work for our team. First it's hard to believe we raised so much money by looking so awful. and wow.....its hard to believe that clothes like that exist. Smile.
Currently in the Wilmington area there are 2728 properties on the market, at the moment about 9 % are under contract which equates to 256. Homes are still getting about 95% of their list price. The 1 million above are actually only getting 92% of their list price. In the last six months 1276 homes have sold. with an overall average days on market being 200.
What Will 2009 Bring?
With 2009 rapidly approaching, we must consider the changes that have occurred in our market, and plan for what we will experience in the coming year. While 2009 will be a difficult year for many, it will also bring unprecedented opportunities for the few who choose to adapt now, before it's too late.
Prices may continue to fall a little, but dramatic price drops such as those we saw between 2006 and 2008 are unlikely.
Affordability will drive an increase in existing-home sales. Proper pricing, as always, is essential.
Mortgage defaults will remain elevated as job and economic growth slows and the next significant wave of mortgages reset.
Onward and Upward !
Thank you to those who sent a response to my HGTV stint on My House is Worth What? The comments were a joy to read. You can catch the program again. Click here to find out when.
....until next week in The Week in Review
Tina
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