The real estate market in Woodmont Golf & Country Club is showing signs of improvement for sellers.  The inventory is down from historical levels as we have worked through many foreclosures.  The rate of pre-foreclosure (notices of loan default) has slowed in recent months as well.  That means we will likely see fewer short sales and foreclosures entering the market.  As you can see from the information below, home values are not yet reflecting improvements. 

If you are interested in buying your dream home in Woodmont, the time is now!  Prices will begin to rise and mortgage rates will be increasing.  If you are interested in selling, contact me quickly to get your home listed for the spring market.  If you are struggling to make your mortgage payment or your home equity is upside down, a "short sale" may be the best option. 

Summary Of 2011 Pendings (Signed Contracts But Not Closed)

This report shows all the closed sales for each month.  In addition, I show the "Original List to Sale Ratios" which reflect the original list price of the property.  It is common for list prices or MLS numbers to change.  This provides a better sense of the original pricing versus the final closed pricing.  You can also see that more properties are getting closer to list price.  These numbers can be skewed by bank-owned properties and other very competitive properties that are getting multiple offers.

More importantly, I am providing the "Last Sale to Current Sale Price Ratio" which reflects the last sale from the tax records compared to the recent closed sale price.  This is a much better indicator of the trends for Woodmont Golf & Country Club real estate values.  It is important to remember that foreclosures and short sales typically need significant repairs and maintenance to get back in proper condition.  Many resales have also been updated and upgraded so these are often not reasonable comparisons

Summary Of 2011 Closings

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