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    Weak consumer finances, falling confidence, tighter mortgage lending, huge inventory of distressed properties have kept a lid on sales and prices. Since 2007 sales in the lower pricing tier in the housing market has dropped by 45%, dropped by 35% in the middle tier, and by 25% in the higher pricing tier. A major downward pull on the economy is the high unemployment rate of 9.2%, also 8.5% underemployed, and the high number of people who have completely dropped off the rolls.

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    Weak consumer finances, falling confidence, tighter mortgage lending, huge inventory of distressed properties have kept a lid on sales and prices. Since 2007 sales in the lower pricing tier in the housing market has dropped by 45%, dropped by 35% in the middle tier, and by 25% in the higher pricing tier. A major downward pull on the economy is the high unemployment rate of 9.2%, also 8.5% underemployed, and the high number of people who have completely dropped off the rolls.

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    109 vues1 page

    Newsletter

    Transféré par

    api-90437217
    Weak consumer finances, falling confidence, tighter mortgage lending, huge inventory of distressed properties have kept a lid on sales and prices. Since 2007 sales in the lower pricing tier in the housing market has dropped by 45%, dropped by 35% in the middle tier, and by 25% in the higher pricing tier. A major downward pull on the economy is the high unemployment rate of 9.2%, also 8.5% underemployed, and the high number of people who have completely dropped off the rolls.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
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    Real Estate Market Conditions Report

    Quarterly Report

    July 2011

    Volume 102011

    D AV I D M A N N - R E A LTO R
    Thank you for taking the time to review this real estate newsletter! This report will address the real estate market in southwest Virginia with a concentration on Carroll, Floyd, and Patrick counties. The main concern of most everyone these days is the conditions of the local real estate market. The sales data in this report is taken from the New River Valley multiple listing service MLS. A combination of weak consumer finances, falling confidence, tighter mortgage lending requirements, and a huge inventory of distressed properties has kept a lid on sales and prices. Demand, i.e. sales, is also being held back by an uncertain financial outlook. Since 2007 sales in the lower pricing tier in the housing market has dropped by 45%, dropped by 35% in the middle tier, and by 25% in the higher pricing tier. Like everything about real estate much depends on where your property is located, and how much house or land you are trying to buy or sell. A major downward pull on the economy is the high unemployment rate of 9.2%, also 8.5% underemployed, and the high number of people who have completely dropped off the rolls. These numbers are taken through June 2011 and reflect in the lack of consumer confidence in the current economy. So what are the sales results in our counties of Carroll, Floyd, and Patrick through June of this year versus through June of 2010? Sold Residences 2011 $10.6 Million vs. 2010 $9.3 Million Sold Residential Transactions 2011 was 81 vs. 2010 was 72 Days on Market to Sale 2011 was 203 vs. 2010 was 166 Sold Land 2011 was $2.65 Million vs. 2010 was $ 3.11 Sold Land Transactions 2011 was 32 vs. 2010 was 26 Days on Market to Sale 2011 was 206 vs. 2010 was 138 +13.9% +12.5% + 37 Days to Sale -14.8% +23.1% +68 Days to Sale

    Mobile: 276-952-8081 Email: davidmann48@yahoo.com Website: www.davidmannrealtor.com

    Sold Price As % of List For Residences 2011 89.4% vs. 2010 92.8% Land 2011 88.2% vs. 2010 87.3% Combined sales dollars for residences and land increased 3.6% for 2011 vs. 2010. The number of listings sold increased 15.3% for 2011 vs. 2010; however, the number of days on market to sale also increased for both residences and land. This is a mixed bag of sales thus far for 2011 vs. 2010 but it does seem the residential market is improving while the raw land market remains more of a challenge. Come and enjoy the cooler weather of the mountains and take advantage of the many great outdoor adventures in Carroll, Floyd, and Patrick counties. Should you have suggestion for content or format in the next quarterly report please feel open to email or call me.

    David Mann - REALTOR


    Licensed Virginia Real Estate Agent with Country Road Realty Mobile: 276-952-8081 Email: davidmann48@yahoo.com Website: www.davidmannrealtor.com

    646B Jeb Stuart Hwy Meadows of Dan, VA 24120

    To remove your name from my mailing list, please click here. Questions or comments? E-mail me at davidmann48@yahoo.com or call 276-952-8081

    This Newsletter was created by www.freelancecompanion.com

    Kathy Manns Buttermilk Coconut Pie Recipe


    Preheat oven to 325 degrees In a medium bowl, combine: 1 cups sugar 2 tablespoons all-purpose flour

    Whisk into sugar and flour mixture: cup butter (melted) 3 large eggs (beaten) cup buttermilk 1 teaspoon vanilla flavoring 1 teaspoon lemon flavoring 1 cup sweetened flaked coconut.

    Pour into unbaked pie shell sprinkle with 1/3 cup coconut. Bake for 50-60 minutes or until center is almost set. Enjoy!

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