Was just thinking about some recent closings I have had...
We are in a market that ended 2010 with about 70% of the solds being
distressed...meaning either a short sale or an REO.
This year I have been involved in 4 transactions already where the seller had equity in their home.
I don't know if last year total I had 4 sellers who had equity!
I think this is a possible shift in the Nampa Idaho Market....now prices are still low...and pretty much most sellers don't haveequity in their homes these days..
However there are some sellers who are not in a distressed situation who want to sell their home for various reasons!
Sellers are coming out of the wood work and that is a good thing!!!
It can be the right time to sell....will a seller gain as much equity as a few years ago? Probably not...but the next home they buy may be a better value and the equity lost can be regained.
Which home would you rather gain the equity in? The one you live in now or the next one you buy??
I am also noticing my price point is increasing....now do I think that prices are increasing? Not at all...but the buyers who are buying are not only in the entry level price range as they have been in recent years!
Is this happening in your area?
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