Real Estate News

by B. J. Weyer

Happy 4th of July!  It’s a great time to celebrate summer.  What will you do?  Head to the beach or the mountains?  If so, have you considered the purchase of an investment property or 2nd home?  What’s the difference? It depends on your purpose and how much you plan on occupying the home during the year. The determination of an investment property vs a second home can also have an impact on interest rates if you finance the purchase, as well as the cost of homeowners’ insurance.  I’m no expert in mortgages, insurance or taxes; however, there are plenty of lenders, agents and accountants who can provide the expert advice you need before you make the purchase.  Once you know what fits your situation best, I am the expert in real estate.

According to the 5/29/18 NEFMLS, 14 homes are currently for sale in Deercreek.  Priced from $349,900 to $899,900, they range in size from 1898 to 5741 sq ft.  The List price averages $156.52 per square ft.  These homes have been on the market on average 115 days, down from 148 days.

The last 3 months have seen 9 homes sold & closed ranging from $299,000 to $625,000.  Extensive repairs were required on the home selling for $299,000. The average selling price was $459,200.  The average price per sq ft was $147.54. The homes sold between 93 and 99% of the list price, and they were on the market an average of 84 days. Eight homes are currently under contract, with list prices from $400,000 (8237 Bay Tree) to $740,000 (8263 Ashworth).

Enjoy the longer days of summer!  Find a way to beat the heat!  Barring anything unexpected, July will continue to bring new homes on the market and homes sold; maintaining an inventory around 15 homes on the market in Deercreek at any one time.