I’ve been getting calls from sellers that are happy to hear that the market is turning around in Beaverton, Oregon, and they want to put their home on the market now. They have been watching the news for the past couple months so they know pending home sales are up in Beaverton and since summer prices normally rise, as do sales, they are ready to sell their home.
The local media took a lot of bashing over the past two years for bashing the real estate market and now that they found a bit of good news they are all over the band wagon of giving good stats. The one statistic they found that was good was pending sales are up… way up, almost up 1/3 over the past three months
There is only one problem with these statistics being brought to you by your local media.Though pending sales are up, actual closed sales in Beaverton haven’t changed. Meaning more people are putting offers in and more of these offers are being accepted, but I believe because of all the new government regulations like the new appraisal law and underwriting guidelines, these pending sales are not getting to the closing table.
I went back trough the statistics for the past three months and sure enough each neighborhood had pending sales up 10 to 15 homes per week more per neighborhood than in the previous three months, but the number that didn’t increase was the closed sales.They still were averaging 1 to 2 per week.
The government that is there to “HELP” is actually hindering sales and making it harder and harder to close. Even the best buyers are having problems with just ridiculous guidelines that have been put in place. If the government wants the market place to fix itself, then they need to get out of the way and let sales happen.
What have you seen your market place? Has the new government guidelines hindered your sales or even caused sale fails? I would love to hear your stories of the government trying to help actually hindering sales.
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