Real Estate is moving, but……

Looking at the North East Valley, the lower priced homes are moving. I have seen more movement on homes not only bank owned, or short sales, but also regular sales.

I think that the bargain shoppers, both for owner occupied homes and for investment, are making a move. The larger lots seem to be the most popular in this area and I believe that this trend will increase in the first quarter of next year. Builders are starting to take another look at the larger lots, and some are buying older homes to lock in a price and then renting them out until the market comes back

There has not been an increase in existing  home prices as the sales are, for the most part, the lower priced properties. Foreclosures will continue next year so I don’t forecast a rapid increase in home prices.

The media and lenders are still our worst enemies. The media keeps writing about doom and gloom ( a self fulfilling prophecy and most lenders are not interest in lending money or helping with loan modifications.

 

As in any downturn in the Real Estate Market, there are more opportunities for those that can afford to participate. There are parts of the Valley in which home prices are still dropping so knowing where and when to buy is critical.

Please call us with questions.

 

Have a great day!

Our recommendations still encourage a purchase,  if you want to increase the size of your home or to move to a better location. Interest rates have had a little upward movement, but at this point I can’t tell what is going to happen in 2011.

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