Real Estate Buzz: Activity for February 2010

The action in Belle Creek is really picking up!  Thankfully, many of the "For Sale" homes in our neighborhood are being sold.  This is great news whether you are thinking of selling or not.  When existing inventory clears our, it means less vacancy, and eventually, higher home values for the Belle Creek Real Estate Market.
Here is a snapshot of what we saw in February:
3 houses went under contract in Belle Creek in February.  This means that there is a signed agreement between the buyers and sellers to purchase the home within a given period of time (anywhere from 30-60 days, usually).  During this time, the buyers will secure financing and inspect the property and the sellers agree to take it off the active market.  Earnest money has been given to the home sellers by the home buyers as a show of good faith and their intent to see the contract through.
The properties under contract are:

• 9645 East 105th Avenue
• 9443 East 106th Drive
• 10933 Belle Creek Boulevard

These are what are known as pending sales.  Pending sales are a leading indicator- they show us what is likely to happen over the coming months.  The downside to pending or under contract sales is that we do not know what the offer price is or what the actual sales price will be until the sales close.

That said, there were 2 closed sales in Belle Creek this February!  They were:

• 10967 Beeler Street.  Listed at $210,000, sold for $212,500
• 10745 Boston Street.  Listed at $225,000, sold for $220,000