State of the Evansville Market

Local interest rates held steady with the following average rates:

Conventional Mortgages (up to $ 417,000):

Term                                            Rate                 Points                APR

30-Year Fixed                             4.125%             0.625%             4.242%

20-Year Fixed                             3.875%             0.375%             4.007%

15-Year Fixed                             3.375%             0.875%             3.616%

When selling a home it is always a good idea to offer a rate buydown or pay all or part of the buyer's closing costs. Typically a seller can command a better sales price. Talk to your real estate professional about this option.

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From January 1, 2012 - October 27, 2011 ERA First Advantage Realty had total sales of $ 241,726,086 in total market penetration (sales) with an average sales price of $ 147,213.26. ERA First Advantage is #1 in the market with FC Tucker at #2 $ 5 million behind. ERA First Advantage and FC Tucker command 54.5% of the total market with the other 67 companies sharing the remaining 45.5%.  There are currently 2,807 active properties and 622 showing "pending" or under contract. The average days on the market to sell is 118 days. The average sales price is $ 127,606. The real estate market in the Evansville Metro area is still very good.

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If you are "under water" on your mortgage or find yourself struggling to make your mortgage payments due to loss of job or other extenuating circumstances, call me, I can help you. There are several Federal morgage modification programs available.