MLS activity sees a spike in the last 24 hours

In the last 24 hours in our local MLS, there have been 51 new listings and 75 went under contract or sold. That is the best ratio I have seen all year. Generally there have been more new listings than homes sold each day. A good sign!

Real Estate sales activity numbers have just been released-how did your area do?

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New Walkthrough Video of this North Arlington Home

www.youtube.com/watch?v=QnrWGJBtdRo

More good news for 1st time homebuyers!

First-time homebuyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit to pay for some of the costs of buying a home purchase. FHA just released details of a plan in which borrowers who use FHA loans can get advances from lenders that let them effectively receive the credit in advance, so they don't have to wait to get the money from the IRS.

Most borrowers will still have to come up with the FHA's required 3.5 percent down payment, unless they work through a state or local housing agency or an approved nonprofit. But there are many other potential uses, such as for closing costs and fees, or to beef up the down payment beyond the minimum level.

Any buyer who has not owned a home in the past three years is considered a first-time buyer and eligible for the program. Borrowers can claim the credit by filing an amended 2008 tax return or can wait for their 2009 return.

The tax credit was included in the economic stimulus package signed by President Barack Obama in February. It is not available to individuals with incomes above $95,000 or couples with incomes above $170,000 and expires Nov. 30.

Existing homes sales rose in April

Existing-home sales rose in April with strong buyer activity in lower price ranges, according to the National Association of Realtors®. Read more: http://rismedia.com/2009-05-28/strong-buyer-activity-in-lower-price-ranges-allows-existing-home-sales-to-rise-in-april/#ixzz0GuYGGaVD&B

“Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish,” he said. “The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program.”Read more: http://rismedia.com/2009-05-28/strong-buyer-activity-in-lower-price-ranges-allows-existing-home-sales-to-rise-in-april/#ixzz0GuYNtcaQ&B

I am definitely seeing tons of activity on my listings priced $150,000 and under. As these homes sell, we should start to see the move up market of $250,000 and up start to pick up.

New Listing with pool in S.W. Arlington-$155,000

Beautiful setting for this 4 bedroom home with diving pool & rock waterfall. Near Gunn Jr. High-quiet cul de sac lot & awesome curb appeal. 2 living & 2 dining areas, bay windows in breakfast area & formal living & built-in hutch in formal dining. Windows replaced & vinyl siding installed 2003. Seller providing $3,500 carpet allowance for new buyer! Outside AC just replaced & wood entry installed. Garage floor & all ceilings in the house just painted.


go to http://www.donlawyer.com/custompages_propdetail/83956.htm for more info and virtual tour

Keller Williams Realty Brokerages Dominate Annual Industry Surveys

3rd largest company in U.S. the only major franchise to show growth

According to two of the industry’s most comprehensive annual surveys, Keller Williams Realty brokerages continue to defy the pervasive downturn in the industry by growing and expanding.

RISMedia’s Power Broker Report and REAL Trends’ REAL Trends 500 rank the largest residential real estate brokerages in the U.S. based on transaction sides and sales volume. This year, Keller Williams Realty had more brokerages on both lists than any other real estate brand.

In the REAL Trends 500 report, Keller Williams Realty dominated, with its offices comprising more than a quarter of the entire list. Of all the major brands represented in the report, Keller Williams was the only company to boast growth in both number of agents added to its ranks and in total transactions closed.

Within RISMedia’s Power Broker Report, Keller Williams Realty again had the largest majority on the list – accounting for 35 percent of all the brokerages listed. The report also ranked Keller Williams Realty #1 in number of agents and total closed transactions.

“These results prove what we already knew – Keller Williams Realty is experiencing the next phase of our growth during this shift,” said Mark Willis, CEO of Keller Williams Realty, Inc. “Our agents and offices are capitalizing on the opportunities presented in today’s market and powering forward.”

“Two years ago, when the market began to shift, we mobilized to make sure our people would have the training, support and technology to tackle the market and they have truly blown us away with their accomplishments,” he added.

“When we do what we do best – coach and train our associates to higher levels of personal productivity and profitability – growth takes care of itself,” said Mary Tennant, president and COO of Keller Williams Realty, Inc. “Keller Williams Realty, the franchise company, didn’t rank on these lists – our people did.”

“We’re confident we’re in businesses with some of the most talented and focused individuals in the industry and we are so proud of all they’ve achieved,” added Willis.