The Houses By Harlan Team Ameri/Star Real Estate (605) 274-7273 Fax: (605) 336-7749 5900 S Western Ave Sioux FallsSD57108
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Presented by: The Houses By Harlan Team
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Supply of Homes on the Market
June 15, 2008 to September 15, 2008
This report shows how many months supply of houses are on the market. We have taken how many sold during the past three months and divided it by the number of homes currently on the market.
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Price Range
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Months Supply
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Last Months
Supply
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Supply 3
Months Ago
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$1,000-$100,000
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4.4 Months
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3.2 Months
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3.2 Months
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$100,000-$150,000
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3.8 Months
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3.0 Months
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3.1 Months
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$150,000-$200,000
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5.0 Months
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4.2 Months
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5.0 Months
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$200,000-$250,000
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6.2 Months
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7.0 Months
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9.8 Months
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$250,000-$300,000
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8.9 Months
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8.1 Months
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11.8 Months
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$300,000-$350,000
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18.0 Months
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15.2 Months
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13.3 Months
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$350,000-$400,000
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11.2 Months
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10.6 Months
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13.1 Months
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$400,000-$450,000
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15.0 Months
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9.6 Months
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9.0 Months
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$450,000-UP
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15.0 Months
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12.0 Months
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20.8 Months
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This report is showing an increase in supply or a decrease in demand in all price ranges except the $200,000 to $250,000 price range. Remember we consider a balanced market to have a 5-6 month supply of homes. Thus in the $250,000 and above prices we seem to have an over supply.
For a little more information on the market and statistics go to this month’s podcast http://www.talkrealty.com/harlantennapel
Now the best part of today’s news is that mortgage rates have plummeted down. Thiry year fixed rates are in the 5.50% to 5.875% and the 15 year fixed rate is 5.125% to 5.50%.
All this tells me it is the best time ever to buy a house especially if you are moving up. There are some fantastic values and great rates!
Call Harlan or Mark anytime at 605-274-7273 to discuss your
specific real estate questions.
FRAMES!
One of the easiest ways to make your house feel more like a home — and also make it more appealing for showing — is to decorate the walls with framed art and photographs. It can seem like a daunting task to frame and hang art, but it’s easier than you think.
In most cases, you can do it yourself. Ready-made frames are usually available in standard sizes at stores everywhere. Odd-sized artwork, however, often requires a custom frame from a professional shop. It’s generally a pricier option, but it can be a worthy investment. To find a reputable framer in your area, go to the Professional Picture Framers Association’s Web sites: www.ppfa.pmai.org or www. findapictureframer.com. Whether you do it yourself or hire a professional, keep these tips in mind:
• When deciding on a mat and frame, select the mat first and then find a frame to complement it. Be sure that the subject and tone of the picture are enhanced by mat and frame selection.
• Get creative with mats. Don’t look just at color, but at texture and size.
• To make a picture look bigger, use a darker-colored mat. Lighter-colored mats draw attention away from the frame and allow the viewer to concentrate on the image within the frame.
• Consider using wide mats (greater than two inches) for prints and photos to create an updated look. Mats wider than prints give greater importance to small images.
• Layering mats can create a unique piece of custom-framed artwork. Using two or more mats is also a good way to accent colors in a room.
• Frames and mats can create a theme for your artwork, so make sure you choose frames and mats that correspond with what you want to convey.
• When choosing a frame, make sure the color of the frame doesn’t overpower the colors in the art.
source: HGTV.com
SHOW THEM YOU CARE!!
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You might think that the living room or family room is the heart of your home, but in the eyes of potential buyers, there are at least three other rooms that will demand your attention as you prepare to sell your home for top dollars. Avoiding improvements in the following areas may cost you a lot more than the small investment it takes to impress buyers.
For buyers, the kitchen is often the most importnat area, and while you may not need to replace your cabinets, refacing or just sanding and painting will go a long way towards improving their appearance. If the floor is in poor condition, consider replacing it.
In the bathroom, fresh paint and new flooring are also fine improvements, but your greatest payoff might come form simply investing a couple hundred dollars in a new mirror and vanity.
The laundry room is often overlooked when it comes to improvements, but buyers will respond positively if you install built-in shelving and storage. If your laundry area isn't flooded with light, consider upgrading the light fixtures. While you're at it, that fresh paint and new flooring wouldn't hurt here, either.
Trust me that if these three rooms are bright, neat and clean, it conveys to the buyers that you are a responsible seller with pride of ownership, worthy of a full price offer.
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For your Real Estate Needs or Questions, Please Give Us
A Call or Email Us!
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Ameri/Star Real Estate, 5900 S Western Ave, Sioux Falls, SD, 57108
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