September 2015 Market Stats

Housing-Market

Residential Real Estate Sales

September 2015 Absorption Rates

Northwest Louisiana (NWLA)

 

 

The following figures are for the month of September 2015 :
 

Currently, there are 2295 homes for sale in NWLA.
Last month 371 homes actually sold.
That’s a 6.2 month supply of homes if no more homes come on the market.
Last month 671 homes came on the market.

Currently, there are 225 homes above $400,000 for sale in NWLA.
Last month 14 homes actually sold.
That’s a 16 month supply of homes if no more homes come on the market.
Last month 47 homes came on the market.

Currently, there are 413 homes priced between $250,001 and $400,000 for sale in NWLA.
Last month 65 homes actually sold.
That’s a 6.4 month supply of homes if no more homes come on the market.
Last month 123 homes came on the market.

Currently, there are 718 homes priced between $150,001 and $250,000 for sale in NWLA.
Last month 125 homes actually sold.
That’s a 5.7 month supply of homes if no more homes come on the market.
Last month 209 homes came on the market.


 

Currently, there are 939 homes priced at $150,000 or less for sale in NWLA.
Last month 167 homes actually sold.
That’s a 4.7 month supply of homes if no more homes come on the market.
Last month 292 homes came on the market.

 

  

6 month supply = balanced market
<6 month supply = seller’s market
>6 month supply = buyer’s market

 

Source: Northwest Louisiana Association of Realtors MLS, Inc., 10/13/15

Information believed to be accurate but not guaranteed.

Broadmoor Family Fun Fest – Oct 16th

Wow Folks…The Broadmoor Neighborhood Association has over 30 local businesses participating in the Oct. 16, Family Fun Fest in A.C. Steere Park from 5-7 . Spar will show "BIG HERO" at 7-9.

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https://www.facebook.com/Movies-Moonbeams-Outdoor-Cinema-358992701364/timeline/

Anyway, these local businesses are excited to participate. They will set up and meet and greet with people and have a lot of goodies and discounts. This is really gonna be a fun event for families and we are excited to be co-sponsors with Christus Schumpert, Spar and, those fun loving Nuns that put on the "Run with the Nuns" event every year. Spar.

There is gonna be a ton of activities for the kids. Remember to bring your own lawn chair to watch the movie. A huge thank you to the Caddo Sheriff's Department for providing 14 Deputies for our security. Parking will be at First Baptist and St. Joseph's (St Joseph will have a shuttle bus running) . Most of the Broadmoor Residents got a letter in the mail from us describing activities and encouraging our residents to shop locally. See ya'll Friday… Stop by the BNA booth for a treat for the kids!

https://www.facebook.com/BroadmoorNeighborhoodAssociation

Why listing your home during the Holidays is a GREAT Idea

We are approaching the Holiday Season, and many think that Listing a home during this time is NOT a good idea. Well here are a few reasons why listing your home during the holidays can get you a quick offer, for more money.
1. People who look at your home over the holidays are serious buyers.
2. Serious buyers have fewer homes to choose from over the holidays as most sellers take their homes off the market. That means less competition for you and more money for you.
3. Since the supply of homes will drastically increase in January, they’ll be less demand for your particular home. Less demand means less money.
4. Houses show better when they’re decorated over the holidays.
5. Buyers are more emotional during the holidays and tend to spend more money on getting your price.
6. Buyers have more time to look over the holidays and can come during the weekdays.
7. Some people must buy before the end of the year for tax reasons.
8. January is traditionally a month where employers have to move so they can’t wait until springtime. They have to buy now so you’re there to capture that market.
9. You can still be on the market and you can have the option to delay your close or restrict your showings during those six or seven days if you want to celebrate the holidays.
10. You can sell now for more money and provide a way for you to delay that closing and extend your occupancy until next year.
11. By selling now, you have the opportunity to be a non-contingent buyer for next year when houses are less and you’ll have more opportunities to choose from.

Holiday Listings Sell

Holiday Listings Sell

Best Month to BUY a HOME is October

October Is the Best Month to Buy a Home

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Frank Rothe—Getty Images

Sellers are more motivated, and the price is right.

Move over location—there’s a new real estate mantra in town.

It turns out when you buy your home can be as important for your budget as where.

After reviewing more than 32 million real estate sales since 2000, RealtyTrac analysts have discovered October is the best month to close on a home purchase.

“On average, October buyers get a 2.6% discount below estimated market value,” says Daren Blomquist, RealtyTrac vice president. “It’s that middle month between the summer selling season and the holidays [when] people are trying to squeeze in a purchase or a sale.”

And a seasonal price discount isn’t the only motivating factor for buyers to consider.

We turned to real estate and money pros for more insights into why October is the time to sign on all those dotted lines.

Reason #1: Motivated Sellers Willing to Negotiate

“Home prices often drop in October as sellers realize they’re on the shoulder of the home-buying season,” says Sandra O’Connor, a North Carolina-based regional vice president of the National Association of Realtors.

Any sellers whose homes have been on the market since the summer will be especially motivated, adds Blomquist, because they are getting nervous. The result is an environment that gives buyers the upper hand in negotiating a deal.

House hunters also typically run up against less competition come October. Many families avoid the fall buying season because their kids have settled into school, which thins the crowds.

And with all four major professional sports in play, other would-be buyers may be tempted to stay home with their big-screen TVs rather than hit open houses.

Reason #2: The Potential of Rising Interest Rates

This fall, the possibility of a long-awaited interest rate hike is in the crisp air. And if one does occur, it will likely make it less affordable to buy, says Blomquist.

So if a new home is on your radar—and you’ve saved up to cover a down payment and closing costs—he suggests that you make your move sooner rather than later.

After all, as O’Connor notes, “The lower the rate, the more house [you] can afford.”

The 30-year fixed mortgage rate remains near historic lows for now. But keep in mind that the Fed is scheduled to meet again in late October and December 2015.

 
 
 

Reason #3: End-of-Year Tax Perks

The tax code generally incentivizes home ownership, explains O’Connor, who says the benefits are biggest in the early period of your mortgage, when you’re mostly paying interest that can be deducted.

To optimize your taxes, you’ll need to decide whether the standard or itemized deduction approach is best for you, says Ted Kleinman, a CPA in Redmond, Ore., as itemizing can sometimes work in your favor.

So get ready to do a little math.

Add up your new home’s interest and tax payments, and your mortgage insurance premium if you have one.

If you are considering adding energy-efficient upgrades like solar panels, you can write off 30% of the cost, thanks to the Residential Renewable Energy Tax Credit. (But it is set to expire in 2016, so act fast if you want to take advantage.)

Then add your valid housing deductions to your list of other potential write-offs to see how that number compares to your standard I.R.S. deduction: In 2015 it’s $12,600 for a married couple filing jointly, or $6,300 for a single person or a married person filing separately.

If the number is higher for itemizing, it may be a good reason to consider buying before the end of the year. Of course, you’ll want to check with your accountant to make sure this approach is right for you.

Reason #4: Cool Weather Exposes Systems Issues

As temperatures drop it’s easier to notice draftiness and other possible problems with a home’s insulation, heating and drainage systems.

A qualified HVAC inspector can assess not only if the unit is performing, but also evaluate the amount of wear and tear to help predict how much longer you can expect the system to last, adds O’Connor.

Checking systems can also give you an idea of how the property is being maintained. Even taking a look at the gutters to see how the owners deal with fall leaf debris can help you size up whether they are likely to have stayed on top of other types of home care and repair.

If these four reasons aren’t motivation enough, here’s another bonus of closing in October: You are likely to move in time to deck the halls with your favorite decorations.

“Holidays generally are a time for sharing,” says O’Connor, “and what could be better than observing traditions, or making new ones, in a new home!”

Open House SATURDAY 1909 E Kings HWY

 
Open House:
SATURDAY, OCTOBER 3 | 11:00 AM – 1:00 PM
 
1909 E Kings Hwy, Shreveport, LA | $$224,995
 

REDUCED !!!!!! MUST SEE THIS AMAZING REMODELED WATER FRONT TOWNHOME! NEW MARBLE COUNTER TOPS IN…

 
Click for more information or to schedule a private viewing
 
Click for Directions!
 
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Jenny Dawson
Realtor
Keller Williams Realty NWLA
318-344-5355
jennydawson@kw.com
 
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