The market continues to languish as we enter the summer. Business is still good but not great. The supply of houses continues to rise which puts pressure on prices. Buyers continue to look but with more choices, it is taking longer for them to decide. They know the market is on their side. If you are a seller and have not had great success in selling your home, there are two unique things you can do.
1. Offer a lease option on your property. There are more buyers looking for this type of housing than there are properties on the market. The reason is their inability to sell their home.
2. Buy down the rate for your buyers. This will expand your market of buyers and give them an opportunity to get more house than they thought they could afford.
BOND MARKET
As the bond market yields rise so do mortgage interest rates. And that's just what is happening this month. Rates have gone up for 10 straight days. Not good for a sagging RE market.
If you are a buyer, you have the leverage to get what you want if you are reasonable. Sellers are not ready to give away their property yet. This is true in this market as well as others that have slowed down.
June will give us a clearer picture of the market's direction.
Off on vacation until July 1. Look for more then. Michael
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment