Well, I find that we are seeing some activity in the Lincoln Square neighborhood. Some shadow inventory has been removed, new fresh properties are popping up on the market. Pricing in general is around the $400's for single family homes with some reasonably priced upper bracket homes. The homes in the $400's can be generalized as 1.5 story homes that have been renovated with newer kitchens, today's amenities, newer windows, quality siding and/or brick work. Some great value are out there.
We have had some lower priced homes close out at $211,000 that were updated but not typical to the finishes reflected in the $400's selling price range.
Buyer's are more cautious, it appears when buying foreclosures as they now are getting good home inspectors, doing their homework and finding out that sometimes a foreclosure isn't the best deal because of hidden unknown issues that usually do not arise until after occupancy by the new buyer.
Short Sales are moving and I am seeing better disclosures by the short sale home sellers with respect to their properties as they stand a better chance to getting a buyer that will stay n the table as they know what they are buying and will, generally, wait for the short sale approval.
We will be discussing some new programs that are out there by some of the major banks for those who are in default on their mortgages over the weekend.
Remember: Spring is just around the corner and things are looking a lot better ....
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