Are you thinking about selling your home but you're not sure what it is worth? The value of your home is determined by a number of factors, including the selling price of other homes in your area. To see what some houses in your area have sold for recently, enter your address in the space provided:
Attached please find a summary of Los Alamos market activity between May 28th and June 11th. During that time...
- 24 new price reductions. This represents quite an increase over recent weeks.
- 14 homes went to Pending, Pending Show, or Under Contract status. Also a strong showing.
- 22 homes sold. This is the best news yet. This reporting period includes the predictably busy month-end, but 22 homes sold is quite respectable.
- 11 new homes for sale
- Showing activity increased - more encouraging news
- The total number of homes for sale decreased slightly
- The average number of days on market was almost unchanged
- Mortgage rates increased significantly in the past week - a full half point. A 30-year fixed rate mortgage is available at 5.5%.
It's hard to tell if the increase in mortgage interest rates is permanent or temporary. It will probably discourage some buyers, and motivating others to take action before rates climb any higher.
On February 17th the American Recovery and Reinvestment Act of 2009 was passed into law. It includes a very attractive first-time home buyer tax credit. Qualified buyers who purchase a home in 2009 will receive up to $8,000 in tax credit. The definition of first-time home buyer also includes buyers who have not owned another primary residence in the past 3 years.