DuPont WA Real Estate Market Update for August 2012
The DuPont WA real estate market update for August 2012 is seeing a stable and steady recovery, which in the long run, is very good. A market that improves too fast or too high will decline just as quickly and devastatingly.
Year-to-date median sales prices between 2011 and 2012 have remained virtually unchanged.
The DuPont real estate market overall is remaining steady and slowly improving due to:
· Historically low interest rates. Many buyers are obtaining mortgages at 3.25% to 3.5% interest rates on a 30-year mortgage.
· Sellers are pricing appropriately as seen in low Days On Market.
· Shortage of inventory.
Year-to-Date for 2012 shows DuPont listings are on the market for an average of 61 days vs. last year for this same time period of 86 days.
The number of homes for sale in August 2011 is cut in half for August 2012. Buyers have fewer homes to choose from and sellers are pricing their homes in line with what the market can tolerate. These are all positive signs for a steady recovery in the DuPont WA real estate market.
The VA Buyer FAQ
Q: I want to buy a house with a VA loan. Do I need to occupy the property?
A: Yes. And when you are go through the loan approval process, and again when you are signing your closing documents, you will be certifying that you will be occupying the property as your home. This is a law, not just a lending condition. (For more information, visit the US Department of Veterans Affairs website, http://www.benefits.va.gov/homeloans/faqpreln.asp)
If you’d like more information about how the DuPont WA real estate market for August 2012 impacts you and your home purchase or sale, call me today. And be sure to visit my website to see the current homes for sale in DuPont WA.
(All data compiled is from the Northwest Multiple Listing Service. Data is deemed accurate but not guaranteed.)