April 2012 Newsletter Here’s What’s Happening in Patriots Ridge
ACTIVE: There are currently 14 homes for sale in your neighborhood. Seven of these are 2 bedroom, 1 and 1/2 baths. They range in price from $179,900 to $215,000. The median sales price is $209,900. The average days on market is 178. There are five 3 bedroom, 2 1/2 bath homes ranging from $227,900 to $264,500. There are two 3 bedroom 1 1/2 bath homes for sale priced at $227,900 and $245,900. The median price is $227,900. The average days on market is 77. There are no short sales.
PENDING: Only 1 home pending at 3705 Swetland. A 3 bedroom 2 1/2 bath that is listed for $250,000. Due to settle soon.. JUST SETTLED: 4107 Captain Molly Cir., 2 bedrooms, 1 1/2 baths, full finished basement,. Settled for $191,000.
5501 Rinker Circle: 2 bdrms, 1.5 baths, settled for $205,000.
3792 Swetland Drive, a 3 bdrm 2.5 bath settled for $247,000.
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What buyers are looking for in 2012
You would think that buyers would be thrilled with lower prices AND GREAT rates but they want MORE. Those great ingredients don’t necessarily translate into confidence that prices won’t continue to drop. They want three things and three things only:
A good value. Condition. Location.
You can thank HGTV and House hunters for some of this. Buyers are watching other buyers from around the world pick the house that is in great condition, at the lowest price and the best location. MOST buyers do not want to deal with contractors so even if you price your home without granite and updated bathrooms, they’ll pass it up if they can, or they’ll kill you with price if they have to do the work. Everyone is afraid they might lose their jobs. They’re looking for a place to settle down where the mortgage, taxes, utilities and upkeep won’t kill them. They want something where the mortgage, taxes, utilities and upkeep won’t kill them. They are looking for PRICE, CONDITION, LOCATION. You can’t change your location—but you have total control over your price and your condition.
