Last week was pretty quiet with regard to activity in 32804, but it was a great one for 3 of my clients.

I got a contract on a new listing the first week it was listed. Proof positive that if you are ahead of your competition with regard to price and condition, the odds are in your favor.

I got a short sale closed on one of my listings that took 3 months from contract to close. Thank goodness the buyer was patient and the sellers recognized how much better a short sale would be on their credit vs. foreclosure, so they were exceptionally cooperative in getting the necessary paperwork together, etc. The buyer got a great deal and the seller gets to move on with their life.

I was also able to help a first time home buyer negotiate a great deal on a house here in College Park. He recognized the fact that in this market you really can't over pay for a house with values continuing to fall. He did not get emotionally attached and walked away from negotiations on another house with less motivated sellers. He's so excited to get rooted in our great neighborhood!

Interest rates rose last week but still remain under 5%.

CLOSED SALES: 5/25/2009 - 5/31/2009
537 W WINTER PARK ST: 3/2 - 1,475 sq/ft - $120,000 *BO
1326 W PRINCETON ST: 2/1 - 1,024 sq/ft- $205,000 *SS
19 E PRESTON ST: 3/2 - 1,236 sq/ft - $230,000
2106 HARRISON AVE: 4/3 - 2,070 sq/ft - $420,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 5/25/2009 - 5/31/2009
New Listings: 9
Pending Sales: 4
Price Reductions: 14

PRESENTLY ON THE MARKET: 5/31/2009
Active Listings: 291
Under 100K: 11
100K - 199,999: 60
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 5
900K - 999,999: 7
Over $1,000,000: 10
Total Pending Sales: 44

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.