In addition to focusing on the "average" days on market, I suggest that you ask an experienced agent for input on things like paint colors, floor coverings and amenities that you should consider putting into your rehab to increase your potential for a quick sell . Be sure your keep your costs at a level to be able to properly priced the home for the area.... more
Norman, everything is local . . . However, last year I had my best year in a few years, if that means anything. At our Kickoff Meeting in January our guest speaker was the number cruncher for Smart Numbers, the outfit that advises developers on location, price point, land cost, timing, etc. I had an opportunity to see him at a round table 2 years ago and he said no one could predict when we would come out of this and that if anyone did, they were just guessing. Well, in January he predicted we would start to see a turnaround (gradual) in 4Q11 or 1Q12. He said we were bouncing off the bottom now.
Furthermore, and to back him up, I have seen the beginnings of housing starts (not many) for the first time in a few years. I'm even seeing yellow re-zoning notices around the area where developers are starting the process of going before the zoning commissioners to have vacant property zoned for single family homes.
That's what's going on here. I hope these are indications that we are coming out of this. Maybe banks sitting on inventory won't have as great an effect as we thought (at least here).... more
If you mean Springfield, MA - than the simple answer is the median price for a single family in Springfield, MA was $143,700 in 2005 and is $134,000 for 2008.
To get a better answer you really need to even drill it down to the neighborhood and really look at hat is going on within that neighborhood. Than you need to look at the active, pendings, and recent solds for that neighborhood. Some neighborhoods have way too much inventory and just aren't moving while other neighborhoods actually don't have enough inventory.
As always, all real estate is local and talk to your local real estate expert.... more
Hi this is Matt Ingram I work with Weichert Realtors and I actually live in Kings Park and have some great market updates for you. You can email me at Mingram@weichert.com or give me a call at 571.235.3257... more