Real Estate is never dull, that's for sure. The news media is giving it a beating lately. I just read this morning that house prices and starts continue to fall.
Real Estate is also still a very LOCAL market. National focus, local direction. In our local market we've seen some changes. Nothing like the national trend. Keep in mind "national average" is being heavily weighted by Florida, California, and others who truly had a housing bubble to begin with. Here's our most recent stats: http://www.soldonlakeconroe.com/custom2.shtml
Why does 80-150K seem to be suffering so much? Simple, mortgage qualifying for the buyers. We could get almost anyone approved on all types of "stated/no doc" loans a year ago...now a days, it's more of an old school mortgage market. You are simply going to have to prove you make what you say and that you've paid your bills!!
What does all this mean to you? If you're wanting to buy, get with a loan officer, have them pull your credit and tell you what you qualify to purchase. And if you are selling? If you are in the 80-150K price range you're marketing time might be a little longer than it was a year ago. But it will sell! Our market is still HOT. I'm out there everyday and there are plenty of buyers ,who are qualified, looking for homes! Our market is healthy and going strong.
Have a general question, email me at holly@soldonlakeconroe.com! I'll personally email you back and do my best to help you find the answers you're looking for.
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