Monday Market Memo for Feb 24-March 2, 2009 March 3rd, 2009
Here are the statistics for Wasilla Real Estate and the rest of the Mat-Su borough for the week.
It appears that life is coming back into the real estate market. After several very slow months, the last two weeks have been very active.
Interest rates are low, first time home buyers receive an $8,000 tax rebate and purchasers of new 5 star plus houses receive an additonal $7,500 energy rebate. That’s $15,500 extra in your pocket if you play it right.
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Average Price | Median Price | DOM | |
| New | 44 | $230,566 | $221,250 | . |
| Total Active | 723 | $284,759 | $237,500 | 156 |
| Pending | 22 | $176,367 | $176,500 | 61 |
| Closed | 25 | $198,862 | $215,000 | 116 |
The inventory continues to grow but pending sales and closed sales were much stronger this week. That will likely continue to be the case as we move through spring.
I do notice that the houses that are selling seem to be lower and lower in price as time passes. The whole inventory also is lower priced. This is probably a combination of sellers actually lowering their prices, and buyers only focusing on the lower end of the housing prices.
The good interest rates and the availability of rebates present an opportunity for buyers that hasn’t been here anytime during my real estate career. I imagine you would need to go back at least 50 years to see interest rates this low, and even then they didn’t have rebates on top of them.
If you are interested in getting the very energy efficient houses and receiving the $7,500 energy rebate I would encourage you to act quickly. That money will soon run out.
Send an email or give a call at 232-7900 to find out more about these opportunities.
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Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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