West Savage Real Estate Blog

Tuesday June 2 is Adopt-a-Street along County Road 16

This coming Tuesday, June 2, 2009 is our Adopt-a-Street along County Road 16 that runs alongside The Pointe, Oak Hills, and Hamilton Hills.   If you would like to join us in the project (and for pizza afterwards!), give us a call or send us an email.   Or, if you are driving by, just honk in support.   Keeping our roadways clean and tidy are important to the integrity of our community! 

Just Listed in Summit Ponds of West Savage!

***This home is now SOLD***

Just Listed in Summit Ponds of West Savage!

 

Adorable home sits at the end of cul de sac street. This home boasts 4BR on one level, 3 bathrooms, family room with gas fireplace, formal living and dining rooms, and vaulted master suite with whirlpool tub, dual-sink vanity and separate shower. The home offers a 3 car garage, concrete driveway, walkout basement, and fenced backyard. Pride of ownership shines in this home!  Offered at $249,700

View our online flyer for this home at:   http://chuebs07.vflyer.com/home/flyer/home/2530096

West Savage Housing Update - May 2009

The market is HOT right now, at least in some price brackets! We have seen a dramatic upswing in the number of active listings and active buyers.   While these increases are typical of spring market, the recent FHA modification to the $8,000 First-Time Homebuyer Tax Credit allowing buyers to use the tax credit as a downpayment (when financing with an FHA loan) has had a tremendous impact on buyer activity in entry-level housing. 

 

 

For our West Savage neighborhoods, total listings have remained unchanged.  The slight drop in pending activity has translated into more closed sales in our marketplace, as sales have closed on paper.  Overall, we are seeing price reductions each week scattered throughout our West Savage neighborhoods.   We are finding an interesting trend has developed:    The homes that are selling in our West Savage market meet one of two criteria:   a) They are in pristine, tip-top shape compared to the competition and are listed at market price, or b) they are priced far below market value.   The homes that that fall “in the middle” – i.e. they are priced at market value and are of average condition - see lengthy market times.  (*Note the CDOM category on the enclosed report – this indicates Cumulative Days on Market – the total length of time a home has been listed for sale without having sold.)  Homes in these price points need staging updates or price reductions paired with aggressive marketing approaches to become competitive in this marketplace. 

 

 

Savage as a whole has seen a significant increase in single family inventory and a decrease in townhouse inventory, perhaps as many townhomes are being purchased by first-time buyers and/or investors, and some people are retaining these properties for use as rentals. 

 

 

Our West Savage absorption rate has increased to 9.44 months.   This means that if zero new homes come on the market, it will take 9.44 months to sell the existing inventory. 

Just Listed! 4BR 3BA 2007-Built Townhouse

***This home is now SOLD***

Just Listed!

Absolutely pristine townhouse faces preserved grassland & walking trails!  Recently finished Lower Level in 2008. Maple kitchen w/ stainless appliances, center island, recessed lighting. Vaulted master with soaking tub, ceiling fan. Less than ½ blk from the neighborhood inground pool. Move-in ready!

Offered below purchase price at $184,700

Just Listed! Credit River Sanctuary!

Credit River Sanctuary! Enjoy wild turkey, owls and deer in your backyard! Almost 4000 sqft of living space. Granite kitchen, silestone baths, and views overlooking the Credit River valley from almost every room! Main floor laundry, formal dining room, sunroom with skylights, two fireplaces, built-ins galore. Huge master suite with bay windows and enormous tub. Dream workshop, 3 large storage rooms Large deck and 3-season gazebo with cupola. 3-car garage, shed, perennial gardens. Many recent updates to mechanicals. Unbeatable location!  

$8000 Tax Credit can be used as Downpayment

By Sara Huebener

I have some incredible news for anyone who knows of someone looking to buy their first home.  The $8000 First TIme Homebuyer Tax Credit has once again been modified, and the news is great!!  The $8000 can be used towards a downpayment if the buyer is using FHA financing.   They do not necessarily need to wait until they file for their taxes to claim the $8000 credit.   This is a terrific program that expires on December 1, 2009.  If you know someone looking to buy their first home, this program is incredible!  Have them talk with their lender about this new change!

Real Estate "Skinny" - May 2009 **Watch the Video**