Saturday, October 19, 2013
ROCHESTER HORROR: FRIGHT at the FARM
Organize Your Move
How to Price Your Home - Do You Need a Realtor?
Real Estate Sales Statistics For Rochester MN
Saturday, January 30, 2010
Market 2010 Update
Last week (January 18-24, 2010) there were 53 new listings, an increase of 39% over the same time period last year; 14 homes that went under contract, a decrease of 48%; and 8 homes that closed, 1/2 as many as last year.
Last week’s 53 new listings and 33 back on the market listings in Rochester had an average asking price of $180,246 (median $155,000) and $187,963 (median $159,900) respectively. There were 33 listings that canceled, 11 expired, and 32 were extended.
The 14 listings that went to pending (under contract) last week had an average list price of $186,167 (median $159,900) and averaged 128 days on the market.
The average sold price of the 8 homes that sold (closed) last week, $173,231 (median $130,225) was 96.6% of the list price, 93.2% of the original asking price. Average market time for these homes was 153 days.
Saturday, November 7, 2009
NEW HOMEBUYER TAX CREDIT
On Thursday, the House and Senate passed an extension of the popular homebuyer program that would allow people who have owned their homes for at least five years to buy a new home and get up to $6,500 off their tax bill. Why the switch?
By extending the credit to current homeowners, the federal government is aiming to move a more upscale segment of the market into “a more normal cycle of buying and selling,” where people might move to a better home every seven or eight years, Mr. Cottrell says. The five-year ownership requirement discourages people from flipping houses the way they did during the real estate bubble.
President Obama is expected to sign the bill quickly. Here’s what it means for you:
– First-time homebuyers still qualify for up to $8,000 in tax credits; those who have owned their homes at least five years qualify for up to $6,500 in credits.
– Purchases must be secured by April 30, 2010 and closings finalized by June 30.
– Single taxpayers with an adjusted gross income under $125,000 (under $225,000 for joint filers) are eligible for the credit’s full benefits. Those with incomes up to $145,000 (single) or $245,000 (joint) may receive partial credits.
– Homes worth $800,000 and under are eligible for the program.
– Members of the military serving outside the United States for more than 90 days will have until June 30, 2011, to qualify for the incentive.
– The program is expected to cost the federal government $10.8 billion in lost taxes.
Tuesday, April 14, 2009
Rochester MN Market Update April 13, 2009
Last week (April 6-12, 2009) there were 70 new listings and 2 listings that came back on the market. The average asking price was $202,685 (median $161,550) and $304,900 (median $209,900) respectively. Three listings expired last week, 10 cancelled, and 8 were extended.
There were 54 homes that went under contract (to pending) last week. Average list price was $164,623 (median $154,900) and average market time was 82 days.
Eight homes sold (closed) last week. The average sold price of $198,200 (median $153,100) was 97.34% of the list price and 97.09% of the original asking price. These homes averaged 89 days on the market.
Friday, April 10, 2009
8,000 Dollar Homebuyers Tax Credit - Better Than You Think!
You've heard about the $8,000 First Time Homebuyer's Tax Credit. And you've thought it might come in handy ... someday.
But you're not sure it'll help you now, today. With the projects that require an urgent infusion of cash.
The house you're planning to purchase is in fundamentally good shape, but the landscaping needs attention and you want to install window treatments, too.
Now you can. A little loophole in the $8,000 First Time Homebuyer's Tax Credit allows you to purchase the house between January 1, 2009 and December 1, 2009 and then immediately file an amendment to your 2008 tax return, in order to take immediate advantage of the tax credit.
"Hold on," you say. "How can I purchase the house in 2009 and take the tax credit on my 2008 return?"
In a word, "loophole".
The federal government is doing everything it can to get the stimulus package into circulation. The intent of the bill is to infuse the economy with cash. The feds want you to spend money on landscaping; they want you to install those new window treatments.
Keep in mind, first time homebuyers are defined as those who haven't owned a home in the last three years. Home purchases must be made between January 1 and December 31, 2009 in order to qualify for the $8,000 tax credit.
So go ahead. Work with your trusted real estate advisor. Select a solid home with a good foundation. Hire a qualified home inspector to make sure it's a sound investment. Move forward with the purchase, enjoying one of the lowest mortgage interest rates in history. And then enjoy the $8,000 tax credit.
Scott Finley a designated GRI, CRS and Broker/Owner of Help-U-Save Real Estate. A prominent name in Rochester MN real estate with over 22 years of Real Estate experience. Visit http://www.helpusavemn.com for details, property listings, and information about finding beautiful Rochester homes for sale.
Rochester MN Market Update April 6th 2009
There are currently 1,090 residential properties for sale in Rochester, MN. The average list price for these properties is $227,165 (median $174,900) and the average market time is 148 days.
Last week (March 30 to April 5, 2009) there were 51 new listings and 16 that came back on the market with an average asking price of $189,641 (median $169,900) and $212,093 ($149,900) respectively. Two listings were withdrawn, seven canceled, 14 expired, and 21 extended.
There were 40 homes that went under contract (to pending) last week. These properties had an average list price of $173,355 (median $154,500) and an average of 113 days on the market.
The 29 homes that sold (closed) last week had an average sold price of $181,221 (median $155,000), 98.69% of the list price, 94.06% of the original list price. These homes had an average market time of 129 days.
Rochester MN Market Update March 30 2009
(March 23-29, 2009) there were 63 new listings and 13 that came back on the market. Average list price was $201,346 (median $165,900) and $233,107 (median $159,900) respectively. Seven listings canceled, one was withdrawn, ten expired, and fourteen were extended.
There were 35 residential properties that went under contract (to pending) last week with an average list price of $175,560 (median $149,500) and an average market time of 90 days.
The 18 homes that sold (closed) last week had an average sold price of $167,641 (median $142,445), 93.22% of the list price, 84.56% of the original list price. These homes had an average of 179 days on the market.
There are currently 1,096 homes for sale in Rochester, Minnesota. Average asking price is $227,482 (median $174,900); average market time is 149 days.