Well here we are in the first month of 2009 and already we have seen an increase of almost 20% in our local MLS pending sales (under contract). This inlcudes all types of properties, but hey, the numbers don't lie.
Back in November, we were down to 81 U/C's and today it's 98 and 4 closed the last few days. With the interest rates hovering around 5%, the folks that were on the fence about buying, seem to believe the time is right to get moving on that home purchase before it's too late.
With a lot of foreclosures and short sales still on the market, there are some great deals to be had. I just put a home under contract that we got for almost 40% less then it was on the market a year ago for. With military folks getting ready for the "seasonal transfer", usually starting in April, I think the number of distressed properties will go down, which should in turn help the local market stabilize some.
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Have a great day!!