Mortgage Monday: Is The Market Picking Up?

Is The Market Picking Up?

Real Estate offices throughout the Greater Seattle area are seeing an increase in activity. There are even reports of bidding wars in the more desirable neighborhoods. Pending sales going into the holidays were up. That is a time when sales usually slow down. Closed sales have shown an increase as well. These sales will not be reported for one to two months from now, so the market is certainly picking up.

With interest rates at an all time low, and prices at their lowest since 2003, why are you not looking for that dream home? The Fed announced that they are considering an increase in the interest rate. If that happens then you can kiss the current interest rate of sub 4% good bye.

Current homes for sale have reached and inventory level of 6 months. That is a neutral market, but is lower than the 15 months we saw in early 2011. Prior to the bubble burst, inventory was at a 4-month level. The market is poised to do very well in 2012.

Give me a call and let’s talk about what your real estate needs are and how you can buy that dream home you have always wanted.

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