Tuesday, January 16, 2007
by Liz Warren
There's a lot of talk of doom and gloom out in the media of massive foreclosure rates, mortgage fraud, over saturated markets and other issues.. Recently the National Association of Reatlors is seeing stabilization in the national market with some areas still trying to absorb the excess inventory. Let's face it, real estate is a "local" market and can't be dictated by sweeping "national trends". Take a look at current statistics for area "153" the mountain market straight from the Multiple Listing Service. This area serves statistics from Cherryville Hill (half way between Brightwood and Sandy) to Government Camp.
The market has a general two month supply of homes. Naturally, many sellers take their homes off the market in winter thinking there are few buyers but recent listings with multiple offer situations prove that there are many active buyers waiting for any new listing to hit the market. Rates are fantastic and with predictions of nearly 7% fixed rates by the end of 2007, NOW is a GREAT time to BUY or SELL!
