Murfreesboro Real Estate Statistics

In this episode of Tuesday Morning Coffee John Jones, a Realtor and owner of John Jones Real Estate in Murfreesboro presents the September 2010 Rutherford County real estate statistics and compares that data to the Sept 2009 stats. John also covers the year-to-date statistics as well as the current mortgage rates.

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Transcript

JOHN:  Hey, John Jones with another edition of Tuesday Morning Coffee.  I hope that everybody had a great fall break.  I know my family did.  We traveled to Uganda, Africa, and had a great visit down there with Divine Grace Primary School and our friends Peter and Phoebe and just had a remarkable experience.  All four of my children got to go, and it was an experience I don’t think we’ll ever forget.

But back to reality.  We’re here today talking about September numbers.  This September, we were down 29% compared to September of ’09.  We did 221 sales this September, and we did 315, so down about 29%.  So what’s interesting out of the homes that sold, 28% of them were either short sales or foreclosures.  So 1 in 3 transactions consisted of a short sale or foreclosure.  Our pendings were down about the same percentage as this time last year.

Our inventory is very similar as it was this time last year.  We are about 100 homes higher, so we’re up a little bit there.  For the year to date, total homes closed in 2010 is 2,535 year to date.  In ’09, it was 2,537.  So we’re about dead even on homes closed, but I do anticipate that that’s going to kind of come down a little bit the next few months because last year, of course, we had that tax credit.  So anyway, those are our numbers.

Some good news.  Rates right now are at 4 and a quarter.  FHA’s at 4 and a quarter, zero, zero with your credit score and debt to income is at a good place.  Conventional 30 years at 4 and a quarter.  Fifteen year is at 3.75.  So incredible rates, incredible pricing, incredible time to buy.  So anyway, thank you.  If you need anything, please come see us at our website, www.JohnCJones.com