My winter vacation in Puerto Vallarta was great, as was the warm temps and the sun. The whales were jumping and the seas were calm. The Real Estate Market was also jumping. Appreciation rates were over 20% in a year, now that US citizens can get mortgages. Where can you get beachfront property for $3-400,000? The only problem is the closing costs which amount to about 8%---OUCH!! That's $25,000 on a 300K property.
Anyway, the market in Asheville is still lingering but there does appear to be light at the end of a short tunnel. With mortgage rates at 5.5% and prices at their lowest and great selection, this would be the time to buy. So buyers get off your couches and start looking before the market explodes.
MDZ
www.kellerwilliamsasheville.com
Tuesday, January 29, 2008
Monday, January 7, 2008
New Year Brings Hope for Better Market
The last quarter of 07 certainly wasn't the greatest, but the number of written contracts for December hint at a better start than expected. Over 988 homes' listings expired on December 31, a record for this MLS. Asheville sellers are getting the message that getting real on pricing will be necessary in order to sell their homes. RE companies will have to help sellers get better educated on the market for their homes to sell or we will again see a glut of homes on the market.
Buyers are cautious now, but are still recognizing a good deal when they see it. So whether you are a buyer or seller, look at the numbers first before listing or the competition if you are a buyer before buying.
www.kellerwilliamsasheville.com
Buyers are cautious now, but are still recognizing a good deal when they see it. So whether you are a buyer or seller, look at the numbers first before listing or the competition if you are a buyer before buying.
www.kellerwilliamsasheville.com
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