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Slow But Steady
April 3rd, 2013 10:13 AM

Real estate continues to be moving, a bit slower this time of year, but still steady.  Price increases are also continuing on a slow but healthy pace.

There are many good bargains to be had, with the average sales price around $98 per sq. ft.  Most homes for sale currently are not a special sale, meaning they are not short sales, REO's or foreclosures.  We are getting back into a more normal market, as buyers deal directly with sellers instead of a bank. 

Mortgages continue to be a problem, though,  as lending requirements are still tight, and qualifications for most homebuyers are difficult to meet.  However, there are many cash buyers looking for quality homes at good market prices, most from foreign countries, but also from northern states in the USA. 

Overall, the housing market is moving in a very positive direction, with appreciation levels around 3% per year.  This is where we need to be in order to restore real estate and stabilize the economy.  Commerical real estate is also showing a rebound and growing at a positive rate.  

Hopefully, we will see nothing but positive and encouraging numbers by the end of 2013 and homeowners will once again begin to see some value and equity in their homes for the first time since 2005.   

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Posted by Barbara Doeringer on April 3rd, 2013 10:13 AMPost a Comment

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