(No, that is not me in the picture). Below is a link to a recent article referencing the commonly heard of Lawrence Yun , NAR Chief Economist, stating that the housing market is improving. I can’t speak for other states or cities but I can tell you what we’re seeing in Portland. Homes under $250,000 that are in good condition and located in good areas (especially those in inner NE/SE) are moving. Homes priced under $185,000 are selling even better. In fact it’s become very competitive. Homes above the $300,000 aren’t moving nearly as fast and of course the higher the home price from there the longer to sell. My advice?
If you have property to sell that will be priced under $250,000 get it on the market.
If you are a first time home buyer, get a move on and avoid wasting time on short sales, with the 12/1/09 close date deadline you may get left with worst inventory.
If you are buyer other than a first time home buyer, get hustlin’ because rates are going up and higher end inventory is high.
If you are a cash buyer you don’t need to worry about interest rates. Take advantage of “fixers” that won’t qualify for FHA financing, short sales or consider waiting a bit longer to catch all the short sales that will soon become bank owned.
If you are a seller with a home over $350,000 and can wait to sell, wait.
Until next time~! -Kristie McDonald ‘To Read Article from National Association of Realtors CLICK HERE
Tags: advice, housing market, Lawrence Yun, NAR, pending home sales