Ask just about anybody, and they have an opinion about the current market. If you were to listen to the national news, they would say “the sky is falling”. Perhaps in the case of the broadcast news, No news is Good News, because they seemed to have nothing good to say.
WELL I HAVE A DIFFERENT OPINION. First ALL Real Estate is LOCAL. I HAVE BEEN BUSY!
Are there challenges? Sure but they are not insurmountable. What I have noticed is UPWARD pricing pressure!; and Multiple Offers!
The RMLS Market Action (see the links in the side menu) are helpful information, but depending on the segment of the local market you are shopping in, there is plenty of action and demand for good homes is UP.
There are plenty of bank owned properties for the investor types, Some are move in ready, most need some work, and others the hand of the skilled re-modeler/investor. The Fannie Mae Homepath programs are for both first time, owner occupied buyers, and on qualifying credit scores, have low down payment requirements of 3%, can be gifted, help with closing costs and NO PMI insurance! this is huge, if you can find and snag these properties quickly.
I’ll come back soon, with more thoughts…..but in general if you have been waiting for the “bottom”, it may have passed this last winter. Only time will tell, but I believe our local economy is strengthening and signs of new projects and new job growth is on the horizon.
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