Thursday, April 30, 2009

Buyers Market??? Split Market???

Wow, it's been a crazy month and I haven't really had anything much to offer so forgive me for being a while with updates. Today though, I have some information that will suprise some of you. We're seeing a trend lately in this "buyers market". Let me give you an example, there are several clients we personally know have who are making offers on homes in the $100 to $200K range as of late. The homes generally are bank owned and in need of some in need of repair. Price range is great though and prompting buyers to make their move. The thing is, offers are being made and we're commonly being told that someone already came in at the asking price, so, if we'd like to make an offer over that, please do! What I'm saying in a nutshell is that the "buyers market" in this price range isn't so much today. At least not in this part of the state. This means we're seeing something I don't recall in my time in real estate and mortgages. We're actually seeing a split market! 200 to 300K is not moving as quickly as the under 200k market, but we're seeing movement there too, offers are being made and often accepted but at full price. The real "buyers market" is in the price range over 300K. Those properties just don't seem to be moving or if so very little. Don't let this opportunity pass you buy folks, the trend is slowly starting to change, but it could flip completely very quickly. Go ahead and find your house now, wouldn't it be nice to buy your home now and have it DOUBLE in value over the next 5-10 years. Show us a stock that can near promise that kind of return and we'll buy it!!!

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