owatonna houses for sale: What's the Buzz in Owatonna Real Estate?
- 02/22/11 04:37 AM
It seems that activity has slowed down a little from our earlier start. It's always difficult to try to make sense of when and why the level of activity varies as it does. I was looking at the sales statistics for the year to date and was a little surprised at the low average sale price. With seventeen homes sold so far this year the average selling price is $106,258. I know it's quite early in the year to make any predictions from this start, yet it is slightly lower than it was this time last year when the average sale … (0 comments)
owatonna houses for sale: What's the Buzz in the Owatonna Real estate Market?
- 05/22/09 09:04 AM
What's the Real Estate Buzz in Owatonna? Things were picking up in April and early May. The outlook is brighter with increased activity. It seems that our spring market is about a month behind - just like our spring weather. We're predicting that first time home buyers will be the mainstay of this market, along with buyers relocating into Owatonna for their jobs. According to my lending expert Brenda Bednar (through Advisor's Mortgage) she is taking applications from those two buyer niches. Property issues are becoming more of a challenge with the increase in foreclosed properties, many of which have deferred … (1 comments)
owatonna houses for sale: Appraisal Pendulum Swinging Too Far
- 04/08/09 02:15 PM
Unfortunately we're seeing the appraisal pendulum swing a little too far. We've experienced a couple of recent transactions that have been jeopordized by low appraisals. These aren't marginal homes that have had high closing costs added to purchase prices. These are mid to higher end homes (for our area) that have fallen short on their appraisal values compared to the purchase price. Have you seen issues like this in your area? Have you been able to keep the transaction together? In one situation the seller had to agree to an $8000 reduction in price to keep it from falling apart. In … (3 comments)
It seems that activity has slowed down a little from our earlier start. It's always difficult to try to make sense of when and why the level of activity varies as it does. I was looking at the sales statistics for the year to date and was a little surprised at the low average sale price. With seventeen homes sold so far this year the average selling price is $106,258. I know it's quite early in the year to make any predictions from this start, yet it is slightly lower than it was this time last year when the average sale … (0 comments)
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