Believe it or not, 30 year fixed interest rates are still in the very low 5% range.  If you are looking to buy a primary residence, FHA still has a great program for you with as little as 3.5% down payment. Conventional 2^nd home rates are the same in most cases as a primary residence loan.  

Homes are very inexpensive these days and are showing some signs of a slight increase in values over the next few months.  Whether you believe this or not, it’s very unlikely that home prices in this market will decrease much more.  

This may be a great time to start a search for a new home.  Just remember to work with a Real Estate Agent that knows the market and is interested in what your wants and needs are.

Buyers are here and they are serious. Each day we are seeing more homes “Pended”. This means there has been a contract accepted on the property and it is no longer on the market.

On January 1^st we had just over 1330 single family homes listed for sale in our MLS. Today–June 1^st — we have 783 listed on the MLS. You don’t need to be a Market Analyst to see that the market is STRONG and Inventory is reducing. The market has bottomed out. It is not far from the turning point of escalating. And then those who were waiting to buy at the bottom will realize that the time has passed and now they will have to pay more. Prices are still good. Value is great. The time to act is Now!

 The longer you procrastinate, the higher prices will be; however with the inventory shrinking you will have a limited selection and will undoubtedly find yourself in a bidding war for property that has multiple offers. We are seeing multiple offers now. We are seeing properties selling for more than the “asking” price. Get the picture? Don’t wait. Buy now!