Real Esate Blog

June 22nd, 2008 11:41 PM
Well it's late June and the question is??? have things improved??? Well, consumer confidence is at a low not seen since 1992, interest rates have moved up into the 6.5% range and home price, nationwide continue to slide. Sounds really bad doesn't it. But personally I have seen a slight uptick in buyers in THIS market, mostly first time buyers taking advantage of some very low prices. Sellers are still out in the cold because of the plentiful foreclosures/REO's on the market, and more coming each day. The low prices on these distressed properties make it difficult, if not impossible to get a high price on a sale. Many of the foreclosures are "move-in" condition, some even brand new. Quite a few builders have gone belly-up in this market so there are a number of brand new homes for sale at very good prices. You can't help but feel for those people who paid full price just months or a year ago and now the builder is gone along with their warranty and the sub is full of homes like theirs selling at 25-35% discounts. Talk about losing equity in a hurry, this is as bad as buying a new car and as soon as you drive it off the lot, it loses 20-30% of its value. Anyway, I just hope the slight pick-up continues and even gets better.

Posted by Phil Turner on June 22nd, 2008 11:41 PM

Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

GA-Homes P O BOX805 Hiram, GA 30141
Phone: Cell: Fax:

MEET PHIL!! | SEARCH HOMES | HOME

Copyright © 2012 GA-Homes
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.