Jan. 9, 2008 - Perfect Time to Buy

With current low interest rates for mortgages and many price reductions on existing inventory of homes in the Ithaca area, now is the perfect time for the savvy buyer to look seriously into making that real estate investment.

Community Credit Union is running a "no closing costs" purchase money Mortgage priced at 4.75% for a 30 year term. Here are the current rates for Tompkins Trust Company. SONYMA is at 5.375%.

Jan. 7, 2008 - Real Estate Roller Coaster

Jan. 1, 2008 - Market Report for Ithaca Area

The Ithaca area residential real estate statistics are out for November 2007.

The average selling price in November was $157,352 as opposed to $183,184 in November 2006 (down 14%). 166 listings went under contract in November 2007, up 3% over November 2006. Average days on the market went up slightly to 134 from 130. New listings on the market are down 7% from 87 to 81. The average selling to list price was 92.560%, down 3% from last November.

If you would like more information about specific data by school district, or what impact current market statistics have on the value of  your home, feel free to contact me. Knowing the value of your home is important information if you are planning to move, if you are considering refinancing, or for estate planning.