Those interested in real estate often ask me this question: The real estate bottom. Are we there yet?
Buyers are watching for signs that the bottom is here so they can crawl off the fence. Sellers want to stop dropping their price, or are finally going to put their house on the market.
All markets are checking for the bottom. I have an email relationship with a Realtor in Vegas who, when asked about the bottom in his market, say not even close. An acquaintence in Dallas says that her area of Texas is showing signs of improvement.
But how are things looking in Klamath Falls?
I have run some sales reports and the numbers are up. The number of sold properties, the price ranges that are selling, the percentage of listing price to sold price, good indicators of improvement. I talked to an appraiser on Friday, he feels strongly that our market is improving. He cited the availability of sold properties for comparables. which were tougher to come by even a few months ago, are out there to justify the appraisal amount. And the appraisals are coming in where they need to.
So, are we there yet? I hope so!