Monthly Archives: May 2011

The April Housing Scorecard

………… shows growing evidence of economic progress according to a comprehensive report on the nation’s housing market. This April “Scorecard” was released in early May by The U. S. Department of Housing and Urban Development (otherwise known as HUD) and the U.S. Department of the Treasury. In true political speak, HUD Assistant Secretary Raphael Rustic is quoted as saying “The housing data in this month’s Scorecard offer continued mixed signals and some signs of weakness in the market – despite growing evidence of progress in the broader economy”. HUH? Is the market getting better or is it not?
Okay, what about the Kingsburg “Scorecard”? At least we can look at our numbers for the past 30 days with a clearer eye and determine that under the SOLD category, almost all of our data did improve. Not by much, sort of just inching up a bit, but nevertheless, better than March’s data. Kingsburg had 12 properties close escrow with an average price per square foot of $108, average days on the market of 62 and an average sales price of $175,977. Four homes sold for over $125 PSF and 1 sold for $145 PSF, so you can see, there is movement on the upper end in addition to the foreclosures and short sales. We listed a home on Silverbrooke St and within 10 days had a good offer. This home has great location, is in perfect condition and was priced right. These three things are what sell real estate!
This week REALTORS® will trek to Capitol Hill to meet with members of Congress regarding: protecting the mortgage interest deduction, retaining a government guarantee for the secondary mortgage market, fixing the short-sale process, and ensuring that the qualified residential mortgage rule is inclusive of future home buyers. Says NAR First Vice President Gary Thomas in a video from this week’s Midyear Legislative Meetings & Trade Expo, “A functioning real estate market can again lead this country out of recession.” Couldn’t agree more!
Don’t forget the upcoming 46th Annual Swedish Festival on May 20th and 21st with a prelude on Thursday, May 19th, that includes a Pea Soup and Pancake Supper. For more information, contact the Kingsburg District Chamber of Commerce at 897-1111.

Leave a comment

Filed under Uncategorized