Pending Homes Sales Rising

Pending home sales rose 3.2 percent from June to July, with a surge in sales in the Western U.S. outweighing declines in the Northeast and Midwest, the National Association of Realtors said today.
It was the sixth consecutive monthly increase in pending home sales, a trend that NAR Chief Economist Lawyrence Yun expects to continue before falling off in the first quarter of 2010 if a tax credit for first-time homebuyers is allowed to expire Nov. 30.

Every week the Bellingham Herald comes out with a listing of all property sales in our area. There were two weeks in July where 80% of the sales were under $300,000 which indicates that a lot of these buyers were probably first time home buyers. I'm hoping that they continue to offer the $8000 tax credit into next year since I suspect this is fueling the number of first time home buyers that are getting into the market.

Thanks for reading,

George Geer

www.georgegeer.com

Finally some affordable land

Finally some affordable land. I just listed two 5 acre parcels for $ 90,000 each and one 20 acre parcel for $ 175,000. Located on a high level bluff in Ferndale, these pieces have a Mt. Baker view, attractive vinyl fencing and located at the end of a quiet country road. Services at the road are, natural gas, power, and PUD water. Buyer will have to dig their own well and the septic designs have been submitted to the health department. Well priced...Check them out.

Thanks for reading,

George Geer

www.georgegeer.com