End of Year Post - Goodbye 2008!

Happy New Year from the Team Green Family!

Collette and I are still new to blogging, but we did not want to pass on the opportunity to submit one last entry before 2008 is a memory. This past year was one of great change for us and we have enjoyed being able to share it with each of you. We are confident that 2009 will be even better and are anxious to find out what is in store for all of us. As far as we are concerned it cannot get much better thanks to our terrific family, outstanding clients (um, yeah, we mean you) and the loving mentorship we get from Del and Trish, our managing brokers. In addition, a shout out to the makers of the game called “Rock Band” for the Wii, to which we owe many hours of blissful delight since Christmas morning. I think I have actually racked up more hours on it than the kids have. I still owe Collette a lamp for the one I kicked over during an outrageous guitar solo. Collette is a terrific singer by the way; I guess there is a little rock star inside of us all. On to business…

In reviewing today’s mortgage interest rates, we noted that the 30 year fixed rate is 5.1%. Wow!  Add that great rate to the fact that the credit market has loosened up a bit and we have a recipe for success for both buyers and sellers! If you have been holding off or waiting for the perfect time to buy, it does not get much better than this.

As for market stats, here is a summary of activity for December.

Click here for the market summary.
Click here for a graph of active listings.
Click here for a graph of expired and sold listings.

The first thing that stands out for me when reviewing these numbers is that December was the 4^th busiest month of 2008 in terms of home sales in our area. Not bad considering it was also the peak of holiday season. We also saw the number of active homes on the market rise again in December, confirming our previous post about why some families move during the holidays versus waiting or trying to “time” the market. The drop in new homes on the market, as well as the rise in number of expired listings is par for the holiday season.

This month’s stats include the percentage of “Short Sales” and “Real Estate Owned” or “REO” properties (Bank Owned) contributing to active and sold listing is also telling. The way these statistics read for December is that 44% of all active listings were either short sales or REO properties. Short sales and REOs accounted for 63% of all sales for the month. Now is definitely the time to snatch up a short sale or foreclosed property for your primary residence, or as your first venture into investment properties. If you want to learn more about your investment options in this market, please use the link below to contact us, or simply give us a call.

Buying or selling, if you are ready to make a move, call us at 818.568.8402, or click here to contact us.  We look forward to hearing from you.

Still not sold on us? See what our clients are saying about us by clicking here.

Happy New Year!