It has been a while since I have had the time to look over Genesee County Stats. Tonight I did and here is what I came up with:

1707 homes have sold in Genesee County this year, 1919 through the end of May 2006, so we will be close.

In 2006 roughly 512 of these sales were foreclosures, so far this year...650. OUCH!

That leaves 1057 "civillian" sales for 2007 against 1407 last year. Number of listings on the market right now? 5959. How many of these are foreclosures? 733.

Yes that leaves a 24 plus month supply of "civillian" homes on the market and about 6 months of foreclosures.

The good news is prices are great for buyers. The average sales price of a "civillian owned" home is down to $130,161 net sales price. That is the sales price minus seller paid costs. For all of you bargin shoppers the average ask price was $138,109 so about $8,000 of or 6%. Not bad.

Interest rates are reasonable, but will rise over the next 3 months, they always do in the summer, but they will again fall.

Once again Buddy Kane nailed the prediction of tight money on subprime mortgages a couple of months ago, easy money for bad credit and nothing down is gone.

One suprise, Lake Fenton. A ton of listings. 61, two are foreclosures. 11 of them are priced over $1,000,000! To put that into perspective, since 2000 there have been 195 sales with 8 of those over $1,000,000 and only three over $1,275,000. There are now 7 priced over $1,275,000 and three over $2,000,000. Beautiful homes no doubt. Two of the greatest homes on the lake are currently listed, both real high in price but I never thought either one would ever hit the market. And the sewing circle is buzzing that there will be two high priced newer homes going for sale on the court house steps soon. How will the banks react to having to deal with a 10 year supply of million dollar homes for sale on one lake?

Check out Lake Fenton Homes For Sale here.