Statistics You Need Current Tri-Cities Real Estate Statistics

Statistics You Need
Current Tri-Cities Real Estate Statistics as of
now 11/18/2009
Active Residential Listings                        984
Last Year This time                                     1395
Contracts Written (U/c. ATB, SOLD) Information
Total Contracts Written YTD ……………..3219
Last Year This time      ………………………2741

Sold/closed Information
Number of Residential Sales YTD . . . . ……. . 2861
Compared to I Last Year YTD . . …………….. 2725
Average Sold Salesprice . . . . . . . . . . ….. … . $188,872
Compared to Last Year YTD . ……………….. $ 190,669

Avg. SOLD DOM . . . . . . . . . . . . . . . . . . . 110
Compared to Last Year YTD .  . . . . . . . . . .110

New Construction Information from HBA
Year to Date-same time in:
——————————————2009  2008  2007
Total Building Permits              899   910  1128
Kennewick                                      213  201  277
Richland                                        63  203  251
Pasco                                              399  367  470
W Richland                                    124 139 130
Active New Construction . . . . . . . . . . 208
Last Year This Time . . . . . .     370
AVG. Active List Price for New Const. . . $290,624
Total New Construction Sales YTD . . . . . . . . 655
Last Year This Time    . . . . . . . . . . . . . . . . 701
Average Sold Price for New Const. . . . . . $239,758
Last Year This Time .          . …………………$244,717

Stats were Created by Windemere based on information
from the Tri Cities Association of Realtor s
multiple listing service  11/18/09

Tax Credit $8000.00 Extended Through April 30, 2010

$8000 Tax Credit Extended Through April 30, 2010

In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more buyers.

Details on Tax Credit Extension:

* $8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
* $6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
* Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
* Tax credit not applicable for those buying homes worth more than $800,000.
* Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.

Will the Tax Credit Extension Help?

According to a recent survey  conducted , nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, potentially stimulating an additional 334,000 home sales. The caveat here is the survey asked first-time home buyers if they would purchase a home prior to the end of 2010; this bill will only go through April 2010, not the end of 2010 and it involves a different type of buyer, as well.

The cost for the tax credit extension is estimated to be $10 billion and opinions vary on whether it will actually help the economy or not. One writer provides 5 reasons the U.S. should stop home buyer perks.

Susan

www.susanknowshomes.com

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SUSAN