Blog Probes Real Estate Models

www.REALonomics.net is a blog that is asking serious questions about where the real estate industry is going. More specifically, REALonomics poses challenges to the broker/owners to adopt models that will allow their organizations to become more transparent.

REALonomics.net advocates that the industry open up the property information portals to consumers and upgrade its approach to how it is interacting with the consumer by implementing more social networking such as www.CityBlogUSA.com, a community blogging network for every city in the USA.

Visit www.REALonomics.net.

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Sioux Falls Real Estate - Market Report - January 08

As many parts of the nation continue to see a downturn in home values, high foreclosure rates, and poor economic trends, Sioux Falls and the surrounding area appear to be the the exception to the rule.  In 2007 the median home values increased 4.9% according to the REALTOR’S Association of the Sioux Empire (RASE). 

While new construction homes are on a slight decline from 2006 (approx 6.35%), pre-existing home sales which constitute about 80% of the market, are remaining steady.  In a recent Press Release by RASE CEO, Barton Hacker stated, “Interest rates continue to be extremely low and inventory levels throughout the region are such that we are seeing neither a traditional buyers nor sellers market.” “These are strong leading indicators that we have a stable real estate market.  Despite discussions of a possible economic downturn, conditions here remain generally positive for anyone considering the purchase or sale of their home.”

Single Family home sales remain steady in Sioux Falls, South Dakota.  As of January 31, 2008 there were 739 Active single family home listings in the city of Sioux Falls, South Dakota.  The median price of active listings was $169,900 and have been on the market an average of 103 days.  In addition, there were 170 homes with contingent or pending status.  These homes had a median price of $146,900 and were on the market an average of 105 days.

During the same time 83 homes were Sold.  The average Listing Price on these was $182,722 with an average Sales Price of $176,989 indicating that sale to list price at 96.86%.  The days on market averaged 83 days.

Looking to buy or sell in this Sioux Falls or surrounding area?  For more information, contact me by phone (605)376-4400, e-mail: rita@yournextexit.com, or stop by my website (http://www.yournextexit.com/) to browse.

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Condos in Town?

Are there any condo projects in Sioux Falls, South Dakota and are there any that are on golf courses? What is the condo price range? Are there any age restricted condo communities?

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Real Estate Companies

Sioux Falls has a lot of real estate companies. Which one is considered the best company according the Sioux Falls, South Dakota residents? Who are the best real estate agents in Sioux Falls, South Dakota? Historically, which company has been there the longest? Do any of the real estate companies also have title and mortgage companies?

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Foreclosures in Town?

Can anyone speak to the issue of foreclosures in Sioux Falls, South Dakota? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Sioux Falls?

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