Our rate of pre-foreclosure and bank owned properties for sale is on the rise, with 44 of the 283 active listings in that situation. We are starting to see investors enter the market once again, which is one of the reasons most of the sales lately are under $250,000. Aside from first time home buyers, investors are buying properties at prices that will allow rental rates able to sustain positive or break even cash flow.

Last week five properties went under contract in the 32804 zip code, three houses listed between $189,900 - $225,000 and two condos at the Wellesley listed at $290,000and $425,000. There were 3 closed sales (see below).

Average rates last week were 5.10% on a 30 year fixed, 4.8% on a 15 year fixed.

CLOSED SALES: 1/26/2009 - 2/1/2009
907 GOLFVIEW ST: 2/1 - 1,188 sq/ft - $250,000
3513 FAIRWAY LN: 3/1 - 1,398 sq/ft - $157,600
2218 MUSSELWHITE AVE: 3/2/1 - 1,608 sq/ft - $266,500

OTHER MARKET ACTIVITY: 1/26/2009 - 2/1/2009
New Listings: 7
Pending Sales: 5
Price Reductions: 18

PRESENTLY ON THE MARKET: 2/1/2009
Active Listings: 283
Under 100K: 10
100K - 199,999: 46
200K - 299,999: 99
300K - 399,999: 30
400K - 499,999: 19
500K - 599,999: 16
600K - 699,999: 31
700K - 799,999: 10
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 18

The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.