{"id":916,"date":"2009-12-03T10:13:50","date_gmt":"2009-12-03T14:13:50","guid":{"rendered":"http:\/\/www.realst8.crankpin.com\/?p=916"},"modified":"2011-03-21T12:22:34","modified_gmt":"2011-03-21T16:22:34","slug":"south-bend-real-estate-report-november-2009","status":"publish","type":"post","link":"https:\/\/www.realst8.com\/staging\/9756\/market-conditions\/south-bend-real-estate-report-november-2009\/","title":{"rendered":"South Bend Real Estate Report: November 2009"},"content":{"rendered":"
The South Bend Area MLS contains information on 245 sales that closed in November 2009. They add up to $27.48 million in sales. That is slightly higher than October 2009, though lower than November 2008.<\/div>\n
There has been speculation that the homeubuyer’s tax credit, which originally expired November 30th but has since been extended through June 30th, artificially inflated the number of sales last month.<\/div>\n
Here is the long term sales graph<\/div>\n

The South Bend Area MLS contains information on 245 sales that closed in November 2009. They add up to $27.48 million in sales. That is slightly higher than October 2009, though lower than November 2008.<\/p>\n

There has been speculation that the homeubuyer’s tax credit, which originally expired November 30th but has since been extended through June 30th, artificially inflated the number of sales last month.<\/p>\n

34 sales were disclosed as foreclosures in the MLS which sold between $5,000 and $139,000.<\/p>\n

Here is the long term sales graph<\/p>\n

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Sales Prices<\/h2>\n
The high price sale was $775,000 for 19000 New Road, a 1989-built 3,000 square foot home plus finished basement on 80 acres.\u00a0For a home without significant land value, the high price sale was $465,000 in Covington Shores. It sold at a loss since the seller paid $480,000 for it in 7\/07 and paid fees at the time of sale.<\/div>\n
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The low price sales were neighborhing homes at 720 and 724 Kenmore. They were sold at auction an brought in $3,200 and $4,600<\/div>\n
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for non auctioned homes, 617 walnut was the most affordable. It sold for $5,000 and was listed for $7,500 at the time of sale.<\/div>\n
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Check the scatter graph of the price of every sale in October 2009 below for a better sense of the market.<\/span><\/div>\n
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Financing<\/h2>\n<\/div>\n
FHA loans have become more common compared to recent months. They accounted for 38% of sales, followed by cash purchases which accounted for about 1 in 3 sales, then by conventional loans which fell to about 1 in 4 purchases. VA and other types of financing remain rare.<\/div>\n
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Condos and Townhouses<\/h2>\n
Sales of condos continue to be light. Two \u00a0townhouse\/condo sales are recorded in the MLS for November 2009.<\/div>\n
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