My Blog

Election Day has finally arrived and I expect the lines may be formed by the time I arrive at my designated voting location on Joy Lane in Fort Mohave Arizona. I anticipate that as this day comes to an end, the American confidence will begin to return. Confidence in the future will begin to stabilize and our economy will begin to improve. I am an optimist and believe in the American spirit of entrepreneurship, I know that we are too strong willed to allow this economic plight to continue one day longer than necessary. Enough said, let’s take a look at how our local real estate market is fairing as we enter into the final quarter of 2010.

Single family home sales slowed slightly during October as we saw 71 home sales compared to 74 for September. As expected foreclosure sales dipped as well claiming 59% of the sales for the month. Short sales accounted for 5% of sales while regular home sellers hung on and staked their claim to 35 % of the single family home sales for Bullhead City, Fort Mohave and Mohave Valley.

Prices dipped again with the average home sales price coming in at an all year low of $ 110,010. This is directly related to the fact that 78% of the market home sales were under the $150,000 price point. We did see two riverfront sales this month one at 1825 East Shore Villas which sold for $310,000 and 2895 which sold for $530,000. Both of these sales were regular home sellers.

One number to watch this next month is the pending or homes going under contract. Homes under contract fell to a year low of 153 down from 232 in September. Interest rates remain at historical lows. Did you happen to see the lender commercial advertising that interest rates had not been this low since “I like Ike,” President Eisenhower had been in office? I just had to include this link. Apparently interest rates and marketing and campaigns techniques have changed dramatically over the years. I found this ad to be refreshing and brought a giggle to me this morning.

As always we hope that this newsletter finds you in good health and high spirits. Know that Michael and I are here to assist you with all your real estate needs.

Tags: Bullhead City housing market, Bullhead City real estate, BullHead City Real Estate Market, Fort Mohave home sales, Fort Mohave Housing Market, Mohave Valley Arizona Housing Market, selling my home in bullhead city arizona

Posted on Tuesday, November 2nd, 2010 at 12:22 pm and is filed under Housing Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.