Local Real Estate Market
Here it is the second week of 2013 and I am very excited about the prospects for this year. I had the best holidays filled with lots of great food, friends and family. I hope you did as well.
I am hearing that there is no inventory out there. I went through my inventory and I have 11 properties with willing sellers. They are willing to sell if the price is right. All of these folks have had their property on the market or have been waiting to list when prices are going up.
I do have to say this at this point. Let your experienced Realtor price your property. We know the market and if we have any doubt as to pricing, whether buying or selling we have teams of experts to get the best for you.
Here is my take on the current Local Real Estate Market using 3 homes that were on the market and did not sell.
1. 2500 SF home good condition, single story with 1 set of stairs to get in, great location and the perfect move in home. It will sell this year at the price their Realtor placed on it years ago. The home was worth it, we just didn’t have folks moving up.
2. 2500 SF home in perfect condition, 2 story but dated. A great family and executive home. It was priced right but needed a full paint out with new windows. This could be sold now at the previous selling price but will need a credit for paint, carpet and windows. The price could be bumped up for about half the price of the credit. If this was single story then it would probably sell.
3. Country property close to town. Tons of water in a water scarce area. All of the other homes around it sold for over asking and they had no water. This was on the market last year at $1,850,000. And will sell easily for $2,500,000. this year.
The bottom line is that prices have been stable for a while, interest rates are down and real estate investing when managed well with a decent loan is still the best investment around. It is a home and an investment. Not a piggy bank!