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Chattanooga MLS Stats October 2007

Posted in Chattanooga MLS Stats by Karen Rhodes on November 10th, 2007

Sales and Inventory History

Category - Residential

Month

Year

Monthly Sales

Avg DOM

Curr Inventory

Months Inventory

January

2006

455

106.0

4275

9.40

February

2006

594

111.0

4380

7.37

March

2006

743

110.0

4468

6.01

April

2006

708

108.0

4692

6.63

May

2006

793

98.0

4813

6.07

June

2006

864

100.0

5015

5.80

July

2006

774

107.0

5131

6.63

August

2006

788

103.0

5338

6.77

September

2006

604

105.0

5501

9.11

October

2006

683

114.0

5579

8.17

November

2006

601

109.0

5623

9.36

December

2006

569

116.0

5536

9.73
           

January

2007

469

120.0

5183

11.05

February

2007

552

116.0

5441

9.86

March

2007

730

115.0

5567

7.63

April

2007

655

113.0

5763

8.80

May

2007

774

117.0

5852

7.56

June

2007

719

105.0

5973

8.31

July

2007

654

106.0

6211

9.50

August

2007

713

115.0

6321

8.87

September

2007

528

102.0

6374

12.07

October

2007

538

106.0

6239

11.60
           

 

The "Current Inventory" column reflects the number of active listings on the market
on the 1st day of each Month.The "Months of Inventory" column is equal to
the "Current Inventory" divided by the "Monthly Sales". This reflects how many months
it would take to sell out of inventory at the current months rate of sale.


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Today’s Mortgage Rates

Posted in Mortgage Info by Karen Rhodes on November 9th, 2007

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston

1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

  Conventional Fixed Rate

30 yr  =  6%

20 yr = 6%

15 yr  =  5.625%

40 yr = 6.375%

FHA and VA

30 yr  =  6%

Rates subject to change



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Chattanooga MLS Stats September 2007

Posted in Chattanooga MLS Stats by Karen Rhodes on October 17th, 2007
What can I say?  If you are a seller it’s ugly.  525 homes sold last month and as of September 1st, 6,322 available.

Sales and Inventory History

Category - Residential

Month

Year

Monthly Sales

Avg DOM

Curr Inventory

Months Inventory

January

2006

455

106.0

4273

9.39

February

2006

594

111.0

4378

7.37

March

2006

743

110.0

4469

6.01

April

2006

708

108.0

4693

6.63

May

2006

793

98.0

4814

6.07

June

2006

864

100.0

5016

5.81

July

2006

774

107.0

5133

6.63

August

2006

789

103.0

5341

6.77

September

2006

604

105.0

5503

9.11

October

2006

683

114.0

5580

8.17

November

2006

601

109.0

5626

9.36

December

2006

569

116.0

5533

9.72
           

January

2007

469

120.0

5182

11.05

February

2007

551

116.0

5436

9.87

March

2007

729

115.0

5559

7.63

April

2007

655

113.0

5749

8.78

May

2007

775

117.0

5835

7.53

June

2007

718

105.0

5950

8.29

July

2007

655

106.0

6187

9.45

August

2007

708

115.0

6281

8.87

September

2007

525

102.0

6322

12.04

The "Current Inventory" column reflects the number of active listings on the market
on the 1st day of each Month.The "Months of Inventory" column is equal to
the "Current Inventory" divided by the "Monthly Sales". This reflects how many months
it would take to sell out of inventory at the current months rate of sale.



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The Cruel Reality of ARM’S

Posted in Mortgage Info by Karen Rhodes on October 12th, 2007



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Solution for Tiny Spaces

Posted in Just for Fun by Karen Rhodes on October 9th, 2007

With all the tiny condos on the market now, space is at a premium.  Along comes Grandma’s revenge, second place winner in the International Kitchen + Environment Design Competition.

Grandma's revenge

Billed as the "ultimate example of space efficiency" Grandma’s revenge is a unit that transforms into a full kitchen and dining area for four thru a series of slides and latches.  Perfect for the tiny condos that have popped up. 

Grandma’s revenge is a new interpretation of a good old kitchen dresser. And so it’s like the grandma herself: a real multifunctional talent.

grandma's revenge


 


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FHA and Down Payment Assistance

Posted in Mortgage Info by Karen Rhodes on October 1st, 2007

Just got off the phone with one of my lender friends.  She has just gotten notification that FHA will no longer acceptFHA down payment assistance progams effective Oct 31.  The most well known of these programs was the AmeriDream and the Nehemiah Programs.

What does this mean?  Well, it means that those people who do not have down payment money will not be able to get an FHA loan.  Unfortunately, that will leave no option for a lot of people except to continue to rent.



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Today’s Mortgage Rates

Posted in Mortgage Info by Karen Rhodes on September 27th, 2007

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston

1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

  Conventional Fixed Rate

30 yr  =  6.375%

20 yr = 6.25%

15 yr  =  6%

40 yr = 6.625

FHA and VA

30 yr  =  6.25%

Rates subject to change



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August Foreclosure Rates

Posted in General Real Estate Info by Karen Rhodes on September 24th, 2007

RealtyTrac has released it’s market report on August foreclosures.  The report shows 243,947 properties nationwide entered some stage of foreclosure during the month.  And, are you ready?  That’s up 36% from last month and 115% from August 2006.  It’s a record breaking month with 1 in every 510 households entering foreclosure.

Tennessee certainly contributed to these abysmal figures coming with the 11th highest rate in the nation.  1 in 569 households.  An increase over last month of 31.57% and up from August of last year by 95.57%!

The 10 highest were:

10  Indiana
  9  Texas
  8  Colorado
  7  Arizona
  6  Michigan
  5  Ohio
  4  Georgia
  3  Florida
  2  California
  1  Nevada



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Chattanooga MLS Stats August 2007

Posted in Chattanooga MLS Stats by Karen Rhodes on September 11th, 2007

Woo Hoo!

Sales were up in August by 5% over July numbers!  Enjoy that sentence because it’s the only good thing we have to report. 

The difference of 100 closings from August 2006 and August 2007 is a 13% decrease.  Available listings continue to climb with a 15% increase from last August.  We still have a 9 month supply of homes available.

I may start breaking the figures down into different areas or price ranges.  The stats that I give are for the entire MLS and it’s very general. 

Category - Residential

Month

Year

Monthly Sales

Avg DOM

Curr Inventory

Months Inventory

January

2006

455

106.0

4270

9.38

February

2006

594

111.0

4374

7.36

March

2006

743

110.0

4467

6.01

April

2006

708

108.0

4691

6.63

May

2006

793

98.0

4812

6.07

June

2006

864

100.0

5013

5.80

July

2006

774

107.0

5130

6.63