Nate & The 12:45 Team Did It Again
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Community Pool and Fitness Center

Townhomes with garage

Condos with garage and secure entry

Interest Rates Drop !!

Now is the best time to buy ! If you have 3-4% to put down. Roughly $10,000

If you wait to make the decision to buy and the interest rates go back up like they will. You could be paying roughly $200 more a month and thats almost $75,000 more over the life of the loan. Not to mention your loan amount that you would be pre approved at would be less, than what you would be pre approved for now.

Ask us how we can help you get a great deal in this market

December 18th, 2008

Supported by the Federal Reserve’s recent decision to cut its overnight federal funds rate to a range of zero to 0.25 percent, the 30-year fixed rate mortgage hit a 37-year low last week reaching 5.17 percent. That’s the lowest the 30-year mortgage rates have been since Freddie Mac began its weekly mortgage rate survey in 1971, noted Frank Northaft, Freddie Mac chief economist.

Cedar Lakes Homes Weekly Report 11/28/08-12/04/08


We are your Neighborhood Expert !

As of today (December 4, 2008 12 PM there are 5 active homes in Cedar Lakes (-3 from last week) and 4 homes that are currently under contract and 3 homes that have sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

Condos- 4

Cedar Lakes A - 1 (1 regular sales)
Christopher at Cedar Lakes - 3 (2 short sales, 1 bank owned)

Townhomes- 1

Cedar Lakes - 1 (1 short sales)


According to MLS, there was 0 new listing this week.


According to MLS, there are 1 townhomes (1 short sale) and 2 condos under contract (1 short sale, 1 regular sale)

12491 Hayes Ct #202 - (23 DOMP) Condo 2bd/2ba

12437 ERICA HILL LN - (90 DOMP) TH - 4bd/3ba

12461 HAYES CT #203 - (41 DOMP) Condo 2bd/2ba

I will have the final numbers for these once they close


According to MLS, 3 home has sold in the last 30 days .

4338 THOMAS BRIGADE LN - 16 Days On The Market (DOMP) TH - 4bd/3ba

List Price - $399,900
Close Price - $390,000
Seller Subsidy -$11,700

4256 Wheeled Caisson Sq - (12 DOMP) TH 3bd/3ba

List Price -$279,900
Close Price -$279,000
Seller Subsidy -$0

4310R CANNON RIDGE CT #90 - (218 DOMP) Condo 2bd/2ba

List Price - 375,000
Sales Price - 345,000
Seller Subisdy - 0

Fairfax Condos Sold for 2007 vs. 2008

Fairfax Townhomes Sold for 2007 vs 2008

These stats are for all real estate in the 22033 zip code for the Month of October
2008 2007 % Change
Total Sold $ Volume $13,514,790 $17,929,266-24.6%
Avg. Sold Price$409,539 $484,575 -15.4%
Median Sold Price $374,000 $410,000-8.7%
Total Units Sold 3337 -10.8%
Avg. Days on Market8187 -6.9%
Avg. List Price for Solds: $432,953 $515,425 -16%
Avg. Sale Price as a percentage of Avg. List Price: 94.59% 94.01%


There has been 1 listings that have been taken off the market in the last 30 days.


There are currently 3 townhomes and 4 condos for rent

2 townhomes have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified.


We had 2 townhomes close this week. One was a bank owned and the other was a regular sale. We still have yet to see a short sale close for some time here at Cedar Lakes.

Just in the last month or two have TH prices come under 400k for the Fair Lakes area. So this is a great sign for first time buyers !! I don't see them dropping that much more right now.

Rumor has it that interest rates might be forced even lower than their record lows right now. If this is so, everyone that has 10-15k saved up should be buying their first home !

You will definitley be saving a lot of money buying instead of renting.

Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.