Thursday, December 29, 2011
Latest Local news effecting Real Estate
01-03-2012 Happy New Year! Let's make each day of 2012 count.
How's the (local) market?
Well that depends, the market is different depending on if you are looking to buy, sell, invest or rent. If you are looking to buy in the price range under $200,000, we have seen a shift from it being a buyer’s market to a seller’s market. This is because there is less than a six month inventory in that price range. For those looking to buy over $250,000, there are many homes to see and with historically low interest rates, it is not an over-statement to say, there has never been a better time to buy. If you are looking to sell you will be glad to learn that you can still get a fair price. A few years ago buyers were willing to over-look flaws, today, buyers are choosier. Some buyers are missing out on great older, well-kept homes because they can't see past some of the dated features. Our best advice is to paint, clean, upgrade and stage to avoid low offers. Investors are buying foreclosed homes and are doing well. The days of "flipping" are not as popular, partly because of the increased demand for rentals. Most investors are buying, improving and holding. Renters are paying more because of the demand created by those who lost their home to foreclosure. Renters who have the ability to buy a home, should buy now or save to buy before prices rise on both homes and rentals. Below you will find links to two local newspaper articles to help you understand what is ahead in the first quarter of 2012. Both articles are optimistic.
12/15/2011 - Study: Economic recovery finally taking hold in Springs
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