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Bob Bentley

West Madison Market Update - May 2009

06-02-09
Bob Bentley

May 2009

Single Family Homes

Condos

All

New Listings

235

142

377

Currently Listed

894

1010

1904

Average List Price

$370,999

$241,971

$302,555

Number Sold

130

66

196

Average List Price – Sold

$275,437

$179,323

$243,072

Average Sale Price

$268,536

$173,454

$236,519

Average Days on Market

86

183

118

Compared to Last Month (April)

Single Family Homes

Condos

All

New Listings

235

125

360

Currently Listed

869

1008

1877

Average List Price

$375,469

$237,661

$301,462

Number Sold

83

36

119

Average List Price – Sold

$284,850

$212,583

$262,988

Average Sale Price

$271,183

$204,087

$250,885

Average Days on Market

94

94

94

Bob
608-235-6701

bob@bentleyrealtygroup.net
www.bentleyrealtygroup.net

Bentley Realty Group is Your Clear Choice in Madison Area Real Estate!

Information obtained from the South Central Wisconsin MLS, deemed reliable, but not guaranteed.

East Madison Market Update - May 2009

06-02-09
Bob Bentley

May 2009

Single Family Homes

Condos

All

New Listings

159

50

209

Currently Listed

640

541

1181

Average List Price

$278,176

$206,491

$245,338

Number Sold

87

17

104

Average List Price – Sold

$194,044

$137,529

$184,806

Average Sale Price

$186,769

$134,101

$178,160

Average Days on Market

74

142

85

Compared to Last Month (April)

Single Family Homes

Condos

All

New Listings

184

79

263

Currently Listed

610

540

1150

Average List Price

$283,280

$204,112

$246,106

Number Sold

54

18

72

Average List Price – Sold

$197,467

$159,027

$187,857

Average Sale Price

$187,611

$149,816

$178,162

Average Days on Market

79

103

85

Bob
608-235-6701

bob@bentleyrealtygroup.net
www.bentleyrealtygroup.net

Bentley Realty Group is Your Clear Choice in Madison Area Real Estate!

Information obtained from the South Central Wisconsin MLS, deemed reliable, but not guaranteed.

Dane County Market Update - May 2009

06-02-09
Bob Bentley

May 2009

Single Family Homes

Condos

All

New Listings

713

250

963

Currently Listed

3191

2156

5347

Average List Price

$338,125

$219,544

$290,311

Number Sold

376

102

478

Average List Price – Sold

$248,379

$173,684

$232,440

Average Sale Price

$240,185

$168,219

$224,828

Average Days on Market

85

161

101

Compared to Last Month (April)

Single Family Homes

Condos

All

New Listings

777

309

1086

Currently Listed

3137

2147

5284

Average List Price

$340,846

$217,577

$290,759

Number Sold

265

82

347

Average List Price – Sold

$253,201

$186,402

$237,416

Average Sale Price

$241,231

$177,253

$226,112

Average Days on Market

93

121

100

Bob
608-235-6701

bob@bentleyrealtygroup.net
www.bentleyrealtygroup.net

Bentley Realty Group is Your Clear Choice in Madison Area Real Estate!

Information obtained from the South Central Wisconsin MLS, deemed reliable, but not guaranteed.

First Time Home Buyers Tax Credit Gets Even Better!

05-30-09
Bob Bentley

This is great news for all of you first-time homebuyers using an FHA insured mortgage. Below is an article published by Reuters.

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WASHINGTON, May 29 (Reuters) - The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday.

The plan to "monetize" the tax credit up-front is aimed at more quickly stabilizing the housing market, HUD Secretary Shaun Donovan said in a statement.

But in detailed rules, the FHA will still require home buyers to provide a minimum 3.5 percent downpayment from other sources.

The $8,000 tax credit for first-time home buyers was created as a part of the Obama administration's $787 billion stimulus plan. Some private lenders already were allowing buyers to apply the credits directly toward purchase costs through special financing schemes.

With the FHA following in a similar vein, a significant portion of the first-time homebuyer market will have up-front access to the credits instead of waiting until tax returns are filed.

"What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing," Donovan said in a statement

FHA-insured loans, which largely have replaced the subprime mortgage market, now accounts for about 25 percent of new mortgages, senior HUD officials said, versus about 2 percent of the market two years ago. At this pace, the agency will insure some 2.2 million mortgages this year.

The National Association of Home Builders estimates that the $8,000 first-time homebuyer credit will stimulate 160,000 home sales across the United States -- 101,000 purchases from first-time buyers and another 59,000 purchases by existing homeowners who sold dwellings to first-time buyers.

Bob
608-235-6701

bob@bentleyrealtygroup.net
www.bentleyrealtygroup.net

Bentley Realty Group is your Clear Choice in Real Estate!

Weekly Market Update - Madison, WI

05-27-09
Bob Bentley
For the week ending May 20, 2009

The average listing price of homes for sale in Madison made a very slight increase of .8% during the past week from $247,608 last week to $249,644 this week. The median sales price for the quarter dropped from $210,000 to $208,500. There are currently 2629 homes for sale in Madison compared to last week of 2621. Foreclosures are actually beginning to drop a bit and are getting closer to 170 each week.

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Bob
608-235-6701

bob@bentleyrealtygroup.net
www.bentleyrealtygroup.net

Bentley Realty Group is Your Clear Choice in Madison Area Real Estate!

The real estate market data provided was obtained from Trulia.com Information is deemed reliable, but not guaranteed.