This quick blurb is not documented as fact…merely observation and intuition on my part.
- Interest rates have risen to 5% or above.
- Real estate inventories are being replenished as sales continue. However, some would say that the choicest properties are being snapped up.
- Properties above 1 million and below 500K are seeing the most activity.
- REO and short sales continue to be mainstream in our market.
- Prices may be stabilizing as evidenced by multiple offers on some properties. Properties that are overpriced, however, will continue to see degradation of those prices or lack of sales.
- Properties across all classes and price ranges are closing within 10% of ask price. This includes REO’s and short sales, discounting what popular opinion would have one believe.
Anne Mayberry 970.846.1425