Word must be getting out that it is a great time to buy a house. I recently returned from a well needed vacation and just before I left, I wrote 3 offers, had a couple that wanted to look at new construction, and another couple coming in from out of state the weekend I would be gone. Doesn't it always work out that way?? Anyhow, that couple wrote an offer while I was gone with the girl who was covering for me. Two of these pending sales are luxury homes, of over $500k. One is in Summit County and the other is in Stark County. Both areas where the average price of a home hovers around the $120k - $130k mark. Another client just wrote an offer on a second home, lakefront property in Portage Lakes, and another buyer is taking advantage of a foreclosed property. Both of my Luxury Home buyers are from out of state, so those prices seem like almost a bargain to them considering the prices in the areas they are from. It is also great news to this area in Ohio where the employment rate is a little higher than the average. I'm happy that we have jobs in the area that are luring in the out of state buyer. Hopefully the rest of '08 looks as positive as May does.
I think the people spreading the bad publicity are called reporters. It's to bad they don't have a clue to what is really going on in the real estate market in the US.