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Things are picking up in my area. I always look on the county website to see monthly sales. Last month only 3 properties sold in the whole county. But for July so far we have noticed alot of SOLD and UNDER CONTRACTs. Can't wait to see July's sales list when it is published. We were thinking maybe June is a slow month b/c everyone is on vacation with the kidos.
I have noticed a few more sold signs in my area. Actually one house in our development was priced right and the new owners have moved in already. It was on the market probably 1 month.
I am hoping we ahve reached rock bottom and would like a slow climb ; not a really fast one as the same will happen
It varies in massachusetts. If a house is priced right and priced somewhat agressively it goes UAG pretty quickly. This morning, I noticed a house down the street from me went UAG after 1 week. I've been watching my town's market for a year now and just recently started to notice more and more homes are going UAG and actually closing than ever (almost one house a day goes UAG but of course for every 2 houses that go UAG a new house comes on the market.
The last appraisal for my home came in at 355k, Im selling for 315k, or atleast trying to. I have had three contract all three falling through just recently the fourth potential buyer started putting offers. Well we havent heard from them in over a week. They wanted to raise the home price to add the closing cost...no problem.
I received a call from the title company saying if these people really want the house they need to do it fast because it looks like home values are going down. She said she received a bulletine stating that there will be so many foreclosures by October that ome values will plumet. So, Im sitting on my home like I have been since September with no light at the end of the tunnel. She also said that 100% loans or 80/20 will ne longer available.
this is what my comment was about yesterday. I f we can get the positive outlook out there and stop all this negative spin things may happen. I dont follow the markets but didnt they just go thru the roof the other day, so maybe this is just a correction blamed on the june housing figures, I think everyone around could of told you what those june numbers were going to be.
I have been extremely busy. July will be best money month ever. but it is dependent on what price range you are in. Under 300k, activity 300 to 500k slow over 500k to 1 mill deadville, over 1mill--- well they do what ever they want!!!
I am in the process of listing 6 new homes in the next week. That is right I will personally bring on 6 new listings... and only have a couple of buyers...well 3 that I am working with and 1 that has just put an offer in. So, more sellers than buyers...
Sellers, get your homes looking pristine and then price right and offer incentives. There are buyers out there, but they are choosy.
She also said that 100% loans or 80/20 will ne longer available.
You probably should not take mortgage product advice from the title people. 100% loans and 80/20s are alive and well and will continue to be. There has been some "tightening" on qaulifying on some products...mainly subprime and fringe products like stated income. But your "average" borrower with decent credit and verifiable income can get 100% loans all day long.
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