It's over...or is it? The Governments housing stimulus plan of the tax credit ended April 30th with more of a whimper than the roar of a victorious game plan. Several communities including my hometown of Naperville have enacted their own stimulus plan to keep the faint-but-present pulse of the local real estate market alive. These involve sometype of tax credit incentive if you buy local. (email me for the details)
Some real estate companies have also enacted their own plans. Coldwell Banker has big plans to keep the ‘dream alive' The plan involves sellers giving back to buyers -All legal and above board of course, but still to me (IMHO) it's nothing more than the seller conceding 8k to the buyer and since most sellers are still in La-la land as far as realistic pricing goes, what's 8 grand among friends? (kind of like a rebate....why not just give me the lower price in the first place and lets get'r' done!)
Let's stop now before I start ranting....so with that I give you this months:
By The Numbers...
For April 2010 Single Family Detached Homes (Information courtesy of MRED LLC)
Naperville
Active Listings: 1152 (as of 05/01/2010)
Sold(04/01/2010-04/30/2010): 107
Months Supply(Act/Sold): 10.77 Months
High Sold Price: $1,700,000
Average Sale: $421,229
Average Market Time: 148
April 09 Top Subdivision (sales): White Eagle (5),
Cress Creek (5)
Aurora
Active Listings: 1281 (as of 05/01/2010)
Sold (04/01/2010-04/30/2010): 150
Months Supply(Act/Sold): 8.5 Months
High Sold Price: $2,300,000
Average Sale: $177,377
Average Market Time: 134
April 09 Top Subdivision (sales): Oakhurst (7), Hometown (6), Stonebridge (6)
Plainfield
Active Listings: 926 (as of 05/01/2010)
Sold (04/01/2010-04/30/2010): 68
Months Supply(Act/Sold): 13.61 Months
High Sold Price: $457,000
Average Sale: $232,115
Average Market Time: 126 Days
April 09 Top Subdivision (sales):Liberty Grove (5), Carillon (4), Clublands (4)
Oswego
Active Listings: 327 (as of 05/01/2010)
Sold (04/01/2010-04/30/2010): 29
Months Supply (Act/Sold): 11.27 Months
High Sold Price: $435,000
Average Sale: $257,055
Average Market Time: 217 Days
April 09 Top Subdivision (sales): Churchill Club (3), Fox Chase (3)
Mortgage rates rising, no more tax credit, the next wave of bank owned foreclosures on the way...but amazingly....home prices creeeeeeeeeeeeping upward ......what's next?? Will we be able to stall off those new foreclosures In order to keep prices on the rise? Is more government intervention needed or even welcomed at this point....)
Quite the situation we got going on here.....got me some thinking to do.
- Dawg -
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