Has the housing market stabilized in your area?

Posted by James Helms on May 18, 2010 · Leave a Comment 

Here in Palm Beach County it seems like it may have. Why? Well, for one, the inventory of homes in certain price range is continuing to shrink. Secondly, because the inventory is starting to shrink, buyers are offering list price and sometimes more to secure a contract on a home. Now, most of these offers are being made on short sale or bank owned properties. This makes the non-distressed properties that come onto the market very appealing and are they’re being sold at a premium. Why? Most people do not want to wait out the average 3 to 6 months for a short sale or bank owned property to close. These non-distressed properties are only on the market for a few days, and in some cases, only a few hours.

Let me know what’s going on with the real estate in your area. I’m very interested in hearing about it.

James

Filed under Real Estate · Tagged with bank owned, for sale, homes, housing, market, properties, Real Estate, short sale