Clarkson Valley is a relatively small city with a population of about 2675 residents. The City is comprised of thirteen subdivisions; Crestview Middle School; Marquette High School; Forest Hills Country Club; Fru-Con Center; Alizadeh Orthodontics Building; First Church of Christian Scientist; and Ellisville United Methodist Church. Homes are on 1+ acre lots.
|
2005 |
2006 |
2007 |
2008 |
2009 |
| # Sold |
43 |
28 |
36 |
40 |
22 |
| Low |
320,000 |
352,000 |
362,500 |
314,900 |
269,000 |
| High |
1.010,000 |
1,050,000 |
1,150,000 |
1,395,000 |
784,500 |
| Avg |
622,243 |
591,958 |
604,119 |
647,088 |
507,303 |
| Med |
625,000 |
570,000 |
592,750 |
602,500 |
525,000 |
| DOM |
63 |
78 |
94 |
116 |
91 |
| SP/LP |
96.56% |
93.70% |
96.91% |
90.73% |
87.92% |
| Avg Appreciation |
7.3% |
-4.9% |
2.1% |
7.1% |
-21.6% |
Real Estate Contracts >Contingency Contracts
Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?
Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.
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| Q |
What mortgage transactions between borrowers and lending institutions operate in the private sector of the economy?
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| A |
Conventional mortgages are private sector transactions that are not insured or guaranteed by the government. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
