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Just this weekend I noticed that 3 out of the 9 houses for sale in my immediate neighborhood (West Hills/ Huntinton area) have signs out front saying they are under contract!! I hadn't seen anything under contract in my neighborhood for months...
We are definately seeing an increase in buyer activity. I think that people are sensing that we are near the bottom and they seem now willing to commit.
There are the same or more houses on the market presently, than about one year ago. Depends what area. I have my Lindenhurst house up for sale, and I know there are a lot more on the market in that town than last year. Between my opinion and what the economic/real estate data indicate, I think there will be more price declines before it starts to recover. Prices went up from 1997-2006 in my Lindenhurst home before slowing in mid 2006. It could take until 2009/10 for them to rebound I would guess. Its a buyers market for sure.
Just this weekend I noticed that 3 out of the 9 houses for sale in my immediate neighborhood (West Hills/ Huntinton area) have signs out front saying they are under contract!! I hadn't seen anything under contract in my neighborhood for months...
For sure it's getting better. I work in the Hunt. area & my 779 listing despite the 16k taxes is 1/2 in contract & had 3 offers after being on the market w/ someone else for a yr. We staged some of the rms & dropped the price a little & someone bought it w/in 3 wks. My 409 listing was 1/2 in contract when the seller decided not to sell right now but every time I did an open house it was swarmed with young couples. The only house I can't seem to sell is my own!!!!!
My area is one of the more affordable areas so homes here sell no matter what. Anything that is priced right sells with a month or two, some sellers still hoping to get 2005 prices are keeping their homes on the market for a year or more. A house across the street from me closed in december for the highest sale price ever in this neighborhood. There is a new development in my town with very large, beautiful homes & the resales are priced around 600,000, I don't see any action on those at all. I can't imagine how they sold in the first place. It is certainly a buyers market & I hope the low, rates & new jumbo limits, plus the FHA programs are bringing more buyers out of the woodwork for Spring.
Don't forget that the mort. rates are rather attractive again.
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