It struck me as an unusual place to take your prom date... Maybe everyone is cutting back on frivolities, but I think that was an isolated case.
It's been an interesting week in real estate...
We are still showing a trend to properties under $250,000 receiving the lion's share of showings. The domino effect is coming in as more Buyers are looking at move up homes, having recently gone under contract to those who were eligible for the first-time home buyer tax credit. I think that it would have been a great week, if the stock market had not been through major upheaval (That always makes people nervous about the economy, and if we were not having a heat wave - in San Antonio heat waves stall the market.
Of course, it's better than living in Greece, where the financial upheaval is perilous and home-selling must be the least of their concerns. We will still have military Buyers coming and relocation Buyers are trickling in as they finally sell their homes in Florida and California.
Buyers who have recently gone under contract are locking their rates this week.. they are back under 5%, even on a conventional loan. That's pretty exciting and will serve to push the market for move-up homes.
Have a wonderful Mother's Day!
--Sara
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