{"id":1013,"date":"2010-01-05T11:44:02","date_gmt":"2010-01-05T15:44:02","guid":{"rendered":"http:\/\/www.realst8.crankpin.com\/?p=1013"},"modified":"2010-01-05T11:44:02","modified_gmt":"2010-01-05T15:44:02","slug":"south-bend-real-estate-report-december-2009","status":"publish","type":"post","link":"https:\/\/www.realst8.com\/staging\/9756\/market-conditions\/south-bend-real-estate-report-december-2009\/","title":{"rendered":"South Bend Real Estate Report: December 2009"},"content":{"rendered":"<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">The South Bend Area MLS contains information on 234 sales that closed in December 2009 with a<\/div>\n<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">cumulative volume of $25.04 million. That is down from last months $27.48 million in sales,<\/div>\n<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">though up from December 2008&#8217;s $22.61 million in sales which was the lowest amount since our<\/div>\n<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">area&#8217;s MLS began keeping digital records in August 2001. The high volume mark was June of 2006<\/div>\n<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">at $69.30 million.<\/div>\n<div id=\"_mcePaste\" style=\"position: absolute; left: -10000px; top: 0px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;\">Here is the long term sales graph<\/div>\n<p>The South Bend Area MLS contains information on 234 sales that closed in December 2009 with a\u00a0cumulative volume of $25.04 million. That is down from last months $27.48 million in sales, \u00a0though up from December 2008&#8217;s $22.61 million in sales which was the lowest amount since our\u00a0area&#8217;s MLS began keeping digital records in August 2001. The high volume mark was June of 2006\u00a0at $69.30 million.<\/p>\n<p>Here is the long term sales graph:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignnone\" title=\"South Bend Home Sales Prices\" src=\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/long-term-sales-december-2009.jpg\" alt=\"\" width=\"539\" height=\"545\" \/><\/p>\n<h2 style=\"text-align: center;\">Sales Prices<\/h2>\n<p>The high price sale was $440,900 for <a href=\"http:\/\/bit.ly\/7AA3XE\" target=\"_blank\">125 Esther<\/a> in South Bend. The home went under contract 11 days after hitting the market and sold without photos in the MLS.<\/p>\n<p>The low price sale was $3,800 for <a href=\"http:\/\/bit.ly\/6CEXki\" target=\"_blank\">230 Calvert<\/a> in South Bend, which went under contract about five months after hitting the market and sold with just one poor quality photo in the MLS. I won&#8217;t post it here.<\/p>\n<p>There were a number of sales that caught my eye as\u00a0notable\u00a0discounts:<\/p>\n<ul>\n<li>51345 Amesbury Way in Covington Shores sold for $419,000 about six months after hitting the market. It sold at a loss to the seller, who appears to have paid $500,000 for the home in July 2007.<\/li>\n<li>1904 Golfview Court in Barrington Estates sold for $335,000 about 28 months after hitting the market in August 2007. The seller started with a list price of $635,000.<\/li>\n<li>51245 Parisian Drive in Bradford Shores\u00a0was a recent &#8220;lottery house&#8221; that was raffled off for charity. The winner sold it for $275,000 about seven months after hitting the market at $375,000.<\/li>\n<li>420 Abbey in Dublin Village sold out of foreclosure for $180,000 about three months after hitting the market at $199,900. The previous owners tried to sell it\u00a0without success,\u00a0starting at$244,900 and lowering their price to $234,900 .<\/li>\n<\/ul>\n<p>Here are all 234 sales prices, in represented visually on a scatter graph<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignnone\" title=\"Sales Prices of South Bend Homes\" src=\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/sales-prices-dec-09.jpg\" alt=\"\" width=\"536\" height=\"455\" \/><\/p>\n<h2 style=\"text-align: center;\">Financing<\/h2>\n<p>Cash sales accounted for more transactions than either FHA financing or conventional loans and they dominate the market under $50,000. \u00a070 of the 76 sales under $50,000 were cash purchases.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"alignnone\" src=\"http:\/\/www.realst8.com\/staging\/9756\/images\/market\/financing-dec09.jpg\" alt=\"\" width=\"539\" height=\"286\" \/><\/p>\n<h2 style=\"text-align: center;\">Condos, Townhouses and Select Villas<\/h2>\n<p>This was not an active month for sellers of condos and townhomes in our area. Just one Notre Dame Area townhouse sold at Dublin Village.<\/p>\n<p>420 Abbey in Dublin Village is a 1,745 square foot, 3 bedroom, 3.5 bath townhouse. It was built in 2006 by the same construction company now erecting many of the new townhomes near Notre Dame. Its price of $180,000 was well below the $214,900 to $265,000 list prices of the six Dublin Village townhomes currently listed for sale.<\/p>\n<p>145 Bridgewater Way, a 1,450 square foot 2 bedroom, 2.5 bath condo sold in The Forest for $128,000. That is down from the $158,500 it sold for in August 2005.<\/p>\n<p>Unit 312 at Topsfield, a 1,000 square foot 2 bedroom, 1 bath condo, sold for $51,000.<\/p>\n<p>1522 Peachtree Lane in Mishawaka&#8217;s Savannah Pass is a detached villa but is in a community with many attached unit and seems to fit here. The 1,112 square foot, 3 bedroom, 2 bath villa\u00a0\u00a0sold for $123,900 down from the\u00a0$145,000 it commanded in September 2006<\/p>\n<p>There were two other condo-type sales in developments I don&#8217;t usually report in detail here. One was in the\u00a0Somers Square condos, for $122,000, and one at the Jefferson Square townhomes for $74,000.<\/p>\n<h2 style=\"text-align: center;\">New Construction<\/h2>\n<p>18 December 2009 sales were reported in the South Bend Area MLS as new construction. They closed at prices from $99,000 to $324,305 and ranged from about $74 to $151 per square foot.<\/p>\n<p>11 were built by Weiss Homes. 9 were sold with FHA financing.<\/p>\n<h2 style=\"text-align: center;\">Have Questions? Need Help?<\/h2>\n<p>While this is the most detailed and most current information you&#8217;ll find on real estate sales in the South Bend Area, there are significant details we can&#8217;t share here. If you need to better understand the market to make smart decisions, or need help buying or selling property <a href=\"http:\/\/www.realst8.com\/staging\/9756\/agents\/\">call or e-mail<\/a>. We&#8217;d be pleased to hear from you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South Bend Area MLS contains information on 234 sales that closed in December 2009 with a cumulative volume of $25.04 million. That is down from last months $27.48 million in sales, though up from December 2008&#8217;s $22.61 million in sales which was the lowest amount since our area&#8217;s MLS began keeping digital records in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-1013","post","type-post","status-publish","format-standard","hentry","category-market-conditions"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/comments?post=1013"}],"version-history":[{"count":4,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1013\/revisions"}],"predecessor-version":[{"id":1017,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/1013\/revisions\/1017"}],"wp:attachment":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/media?parent=1013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/categories?post=1013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/tags?post=1013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}