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ASK THE EXPERTS

Now is the time to buy a home

POSTED: May 27, 2009 4:00 a.m.

It’s late May, schools out, and it’s time to think about buying or selling your home.

  

Is your job transferring you to a new location?

  

Are you about to outgrow your current home with twins on the way?

  

Or maybe, the dreaded in-laws have moved in and you need more room? 

  

Is this the time to stick your toe into the Real Estate pool or not?

  

First, let’s recap the numbers for the last few months. January brought 16 total transactions. In February we posted 12 sales.

  

March remained flat with 12 sales, but when you break down the numbers it was a “Foreclosure Fire Sale” with banks dominating the total sales with more than 50 percent of homes sold in Dawson County.

  

April is going to pretty much mirror the March numbers.

  

There were a total of 17 sales county wide last month.

  

The bank owned homes continue to dominate the market with a staggering nine total, or well over 50 percent of the transactions.

  

There were two new homes sold, and again the majority of these were sold at or below cost. Which leaves six owner/occupant homes sold between a traditional buyer/seller.

  

So the question remains, is this the time to buy or sell?

  

If you’re in the market to buy, absolutely without a doubt this is the time to buy.

  

If you’re in the market to sell, only you and your Realtor can answer that question.

  

Keep in mind that you are competing against a bank that will go to any lengths to sell their inventory as quickly as possible. Is it fair to you as a seller?

  

No, but that is the reality of the market that we are currently in. Look at the bright side. Maybe the in-laws moving in can double as baby sitters for the twins when they come.

  

OK, let’s get to the figures for April:

  

There were a total of 17 home sales in March.

  

The average home sold for $325,289.

  

The average days the home was on the market was a staggering 210.

  

At the current rate of sales, there are 18.6 months of inventory available.

  

These figures were provided by First Multiple Listing Service and reflect all home sales that changed hands through the assistance of a Realtor.

 

Scott Whelchel is the public relations director for 400 North Board of Realtors.

 

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