Journeys End market activity...and some other stats

Only 2 reported sales the past 30 days....

1. 6946 Houlton...Kensington, Short Sale: $310k
2. 6995 Houlton...Buckingham, Short Sale: $299k

Here is what is currently 'under contract'...3 homes currently...some have been under contract for a long time as they are short sales, and these negitiations can take anywhere from 60 days to over a year in some cases!

1. A Laredo on C Durham...Short Sale, has been under contract since Dec. 9th, 2009
2. A Kensington on Houlton...Short Sale...went under contract for the 4th time on April 5th
3. A Pecos on C Durham...not a short sale or bank owned...went under contract on April 30th

There are 19 homes currently on the market.
7 Short Sales
1 bank Owned
11 traditional sales

Looking at the sales figures for the previous 12 months - 24 total sales. If we were to apply this rate of sales to the current 'for sale' inventory, we arrive at an absorbtion rate of 9.5 months to liquidate the current inventory on the market in Journeys End.

Thanks again for taking the time to read our blog. If there is a subject you would like us to post on, please send us an email.

Steve and Jackie Jackson

Recent market activity update

There are currently 12 homes on the market in Journeys End.

Asking prices range from $264,000 to $450,000.

3 of the 12 are being marketed as short sale...with maybe 4 more that would be short sales if they were listed at market value.

A few of the homes have been on the market only a week or 2...but then you have 3 of them on the market 400+ days, 1 at 500+ days and one OVER 800 days on the market!!
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Under Contract Homes: currently there are 6 homes with a pending contract on them. Asking prices on the six range from $249k to $365k

4 of the 6 are short sales.
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The SOLD properties for the previous 90 days are as follows:

1. Windsor/Lake/Pool - $415,000
2. Windsor/Canal/Pool - $369,000
3. Kensington/Lake/Pool - $345,000
4. Taos - $340,000
5. Biltmore/Lake/Pool - $335,000
6. Santa Fe - $327,500
7. Santa Fe- $325,000
8. Santa Fe/Lake/Pool - $300,000

New on the market

A Pecos, 1 story, 4/2/2, 2400+ sq ft, on the lake, has just been placed on the market at an asking price of $450,000. The home is being sold by the original owners who paid $290,000 for the home in December of 2000.

Journeys End...On The Market

As of this morning, there are 23 homes on the market in Journeys End/Grande Estates.

The range of pricing is from $294,900 to $495,000.
6 of the 23 are reported as Short Sales and 1 is a bank owned sale. There are also a number of homes on the market NOT listed as short sales but if they were to be priced at market value WOULD be short sales.

Below is the model and current asking-price range:
1) 1 Laredo-3/2.5/2-1 story-2067 sq ft-$299,900
2) 1 "Custom"-4/3/2-1 story-2357 sq ft-$365,000
3) 3 Pecos models-4/2.5/2-1 story-2433 sq ft-$375,000/$379,000/$427,999
4) 3 Biltmore models-4/3/2-1 story-2473 sq ft-$398,700-$404,990
5) 1 Phoenix-5/3/3-1 story-2906 sq ft-$390,000
6) 1 El Paso-5/3/2-1 story-3030 sq ft-$439,000
All of the following are 2 story homes
7) 1 Tucson-4/2.5/2-2656 sq ft-$428,000
8) 1 Yuma-4/3/3-3013 sq ft-$400,000
9) 3 Santa Fe models-5/3/3-3068 sq ft-$294,000-$425,000
10) 1 Austin-5/3.5/3-3157 sq ft-$418,000
11) Windsor-5/3.5/3-3623 sq ft-$495,000
12) 2 Taos models-5/3/3-3788 sq ft-$424,800-$439,000
13) 5 kensington models (courtyard)-6/4/2(3)-$350,000-$479-900

As you can see, there is quite a choice and range, even among the pricing of the same or similar homes. Some of the smaller homes are priced higher than much larger homes and the lowest priced home is one of the larger 2 story homes.

In the posts to come, we'll go into more detail regarding "days-on-the-market", listing "history", location, upgrades, etc.

If there is anything in particular you would like to see discussed here, just call us at 561-432-5202 or click the "contact me" button at the top.