Market Update -- Vickie York ... At the Beach Realty real estate

Market Update
9/19/08-9/29/08

Current Number Of Listings In Bethany/Fenwick (All Companies):

232 Single Family, 257 Condos

New Listings, Bethany/Fenwick (All Companies):

6 Single Family, 2 Condos

Pending Listings, 9/19/08-9/29/08

17 Single Family, 23 Condos

Currently Pending Listings, Bethany/Fenwick (All Companies):

2 Single Family, 3 Condos

Closed Listings:

3 Single Family, 2 Condos

Current Number Of Listings In Ocean View (All Companies):

471 Single Family, 290 Condos

New Listings, Ocean View (All Companies):

12 Single Family , 3 Condos

Pending Listings, 9/19/08-9/29/08

57 Single Family, 29 Condos

Currently Pending Listings, Ocean View Area (All Companies):

5 Single Family, 2 Condos

Closed Listings:

2 Single Family, 1 Condos

Showings On Our Listings: 89
Numbers do not include new construction communities.

We have been busy showing property to buyers. However, it is taking buyers at least 3 trips to the beach to make a decision since their choices are many. The buyers we are working with are strong buyers, though; most of them are paying cash. Lenders are scrutinizing the buyers' loan applications, especially the appraisals. Buyers need to have a 740 or above credit score plus 20% down in order to get market rate for loans.

Our biggest competition for listings priced from $400k - $500k is Bay Forest. We have lost several sales in the last 30 days.

Attached are pertinent news articles for your review. The article about second homes is particularly informative.

Please call me at any time to address your concerns or questions. I hope you will find the information helpful.

News Articles.

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