Friday, February 8, 2008

Gainesville - January 2008 Trend Report

Residential Homes trended DOWN by 17.3% (January Year-to-Year)

Original Price: $464,594
Sales Price: $414,708 (89.3% of Original Price)
Average Days on Market: 101
Number of Homes Sold: 31

Currently Active Listings:
Average List Price: $486,568
Average Days on Market: 178
Total Listed: 358

It is important to know the path the market is currently on. Sellers need to lead the market not follow. Continually lagging behind the trend will lead to higher days on the market and lower "walkaway" sales prices.

1 comment:

Carin said...

Using term life insurance to insure the mortgage for your new home can be much cheaper than the coverage offered by the lender. Term life also gives the homebuyer the advantage of naming the beneficiary; the lender always names itself. Term life doesn't change in the value of it's policy; bank mortgage insurance decreases in value as it only covers the balance due, not the original amount of the mortgage. However, the rates do not decrease as the value decreases. For ongoing coverage the homebuyer can choose a term life policy that converts into whole life insurance once the term has been completed; usually the policy will convert without having to submit new medical information. Talk to a qualified broker about this option; also compare term life quotes online for the best rates and coverage.