January 25, 2008
As part of our weekly market update, please find the weekly Kinder Team Report - Lawton Total Market Overview. We publish the data weekly to provide detailed insight into the inner workings and trends for the real estate marketplace in the Lawton area.
HUGE Improvements in Interest Rates - Good news for our housing market! The Fed's have dropped the Federal Funds Rate and we are finally seeing the improvements that we have desperately needed. Rates have plummeted over the last several days so finally there is a light at the end of the tunnel and we can give our clients a huge reason to BUY NOW! We have not seen interest rates as attractive as they are now since the refinance Boom in 2003.
Here is this weeks update of Real Estate in the Lawton Area: (the definition of each category is explained below) |
I wanted to share a few articles posted by the National Association of Realtors that I thought would be of value to you. If you have any questions or need some assistance in finding a great home, let me know and we will take the absolute best care of you! Click the story link below..
NAR Pleased With Stimulus' Housing Provisions
NAR Commend Federal Reserve's Rate Cut
If you or someone you know is interested in becoming a Real Estate Professional, check out http://www.successwithjaykinder.com/ and join us for our FREE LIVE events. Find out how to Jump Start Your Real Estate Career for FREE! If you are a Licensed Producing Realtor check out how you could receive up to $10,000 in Cash Rewards!
If you know of anyone that would benefit from this report please let me know and I will add them to the report mailing list. Also attached is the Total Market Overview Report Definitions.
This information is obtained from Paragon MLS and deemed reliable but not guaranteed. If you wish to no longer receive this update then please reply.
Thanks,
Jay Kinder
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The Kinder Team Report - Lawton Total Market Overview Report Definitions
Active Listings: Active listings in Paragon (MLS).
Pendings: Listings which have received an acceptable offer from a buyer and are on the way to closing.
Pending Ratio: Pendings / Active Listings (by price range)
Expired Listings: Listings which have been ‘rejected by the market' in the past six months. This is a rolling six-month (we calculate by going back 180 days from the date of the report) set of listings which were listed for sale and ‘rejected' by the market and the sellers decided to pull or withdraw them and take them off the market.
Closings: These are homes which were listed for sale, received an offer and closed with a new buyer. This is a six-month rolling total (180 days back) of all homes sold.
Sold/Mo: Number of houses sold over a six months (180 day period) / 6
Months Inventory: Active Listings divided by Sold/Month. Note: Although many months of listings show for any price range, the average days on the market is normally significantly lower. This is due to the fact that there are normally a substantial amount of homes that are mis-priced or grossly overpriced. Days on Market is driven by the homes that actually sell vs. Months of Inventory.
Average List / Sold Price: These are the averages for all homes that have sold in the past 180 days. MLS Data calculated for the average list and sales price for every home sold in the respective price range.
List to Sales Ratio: Average List Price / Average Sales Price
Days on Mkt.: Average days the homes in the price range that sold over the 180 day period.
