Is Eastman Real Estate Affected By Foreclosure Rates?

Today’s news about the jump in foreclosures is not good for anyone. The jump was almost 5% in the July through September quarter vs. the previous April through June quarter. This jump was said to be caused by the rising unemployment level. New Hampshire has seen some layoffs but locally we are in fairly good shape.

So what have we seen in the Eastman Community over the last quarter? The number of condo sales were up and home sales have kept pace with the two previous quarters. For the first half of the year (2009) there were 2 condo sales. This quarter we had 4 sales bringing the total for the year to 6. Home sales for the first half of the year were 15. Add in the 6 home sales this quarter and the total goes to 21.

Not staggering numbers but a good solid quarter. If you add in the contingent home and condo sales it is going to make the fourth quarter the strongest of the year. As of today there are five condo’s pending or contingent and eight homes pending or contingent.

If you look at these numbers, they do not show a slow down in sales but a market that is gaining momentum.