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April, 2010
Dear
Fairway Estates Neighbors,
I’ve enclosed my "Market
Watch" for Fairway Estates for the 1st
Quarter of 2010. In the first quarter of 2009 the average sale
price dropped by
almost 30% over 2008.
In the first quarter of 2010 the drop was 4.26% from
2009. Hopefully, this is a sign that prices have bottomed out.
It is estimated that home prices have retreated to 2002 and
2003 price levels.
There
was a dramatic increase in the number of single family homes
sold in the first quarter of 2010 over 2009. Much of this
increase is attributed to the stimulus of the $8000/$6500 tax
credit. This incentive program will expire at the end of
April. There are concerns as to whether the housing market
will be able to stand on it's own without these incentives.
Short
Sales
(more
is owed than it's worth) and bank owned (referred to as REO
properties-Real Estate
Owned by the
bank aka foreclosures) properties continue to be a large
segment of the market (40-50%) thus putting pressure on the
value of homes not in distress. Many of these properties are
in need of repair and are being sold at large discounts from
their previous selling price.
If
you or anyone you know is having difficulty with their
mortgage due to a drop in income or a mortgage interest rate
that increased, there are options rather than facing a
foreclosure. Often, a lender will do a
“loan modification” to help you stay in your home or allow a
“short sale” rather
than force you into a foreclosure.
Be wary of anyone who
tells you they can save you from foreclosure and then asks you
for money up front. If you have any questions on these
options, please call me for a
FREE, confidential,
no obligation appointment.
Of course when it comes to your Fairway Estates home,
no one continues to sell more homes for more money (and in
less time) than I do. In this market can you afford to risk
your equity with an agent without a PROVEN track record of
success???
If you would like to know more about my industry
leading TEAM approach to selling
and buying homes, please call me for a no-obligation, no
stress meeting. You can reach me at (386) 334-2587 or if long
distance call 1-800-791-7108. I promise to answer all your
questions. Thanks for your time.
Most Sincerely,
Ed Savard, Your Fairway
Estates
resident
Realtor.
"Your Home SOLD Or I Buy It!"
PS: Just as good markets
don't last forever, neither do bad markets. It's a great time
to buy a home!
PPS: Visit my web site
www.EdSavard.com for
a
FREE
Report on the
"10 Questions You Must Ask When
Interviewing A Real Estate Agent."
REMEMBER
to check your community website:
www.MyFairwayEstatesNews.com where you can find it, buy
it,s
ell it and talk about it and so much more, all
for FREE. Also remember to support your Fairway Estates Home
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