Summer is in full swing at Riss Lake and the swimming pools are the popular spot to be as temperatures have climbed well into the 90's!
Our First Annual Riss Lake Block Party was a HUGE success in June with well over 400 neighbors in attendance. Be sure to check out the new photos and video clips on Facebook!
Sales of new construction on the 12th Plat have continued to stay strong while existing home sales have lost some of their momentum from the Spring.
As of July 26, 2010 there are a total of 44 homes for sale in Riss Lake. Prices range from $275,000 (A Short Sale) to $1,200,000.
On average, homes that are currently listed have experienced a fair amount of showing appointments. My listings are averaging 1-2 showings per week with better numbers in the lower price ranges.
In working with buyers within Riss Lake I have noticed a definite slow down since the expiration of the home buyer tax credit in April. The likely effect of this stimulus was that sales were "brought forward" or "borrowed" from the summer months and thus the lag that we are now experiencing. Lending continues to be a struggle for buyers who are experiencing more scrutiny from the banks and mortgage lenders.
On a positive note, there has simply never been a better time to purchase a home in Riss Lake than right now!
The combination of choice, price and interest rates are better than at any time since I have been following this market since 1997. The entry level homes in Riss Lake (Homes priced between $300k-$400k) represent some outstanding values. Given the broad diversity of amenities, the incredible location and the cost to rebuild, I am convinced that this is a perfect time to purchase within Riss Lake.
Nationally we have experienced a severe correction in home prices and Riss Lake home prices have only very recently reflected this. I believe that in the near term the market will begin to more accurately reflect the cost to rebuild a home and this should lend support to home prices.
Please feel free to contact me directly for a more detailed market analysis of Riss Lake home prices and marketing strategies.
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