1st Time Homebuyers are Buying
Finally, I see an uptick in homes going into contract. Yes we still have some lookers, but many buyers are pulling the trigger and purchasing.
I have witness 1st hand, bidding wars and Realtors asking for highest and best offers. This is the startng point for the recovery. It will reduce inventory in the starter home market giving the sellers of these starter homes the opportunity to purchase a larger home.
I follow Commack New York Residential House sales on a daily basis.
If we compare last year from Febraury 15th 2011 through May 16th 2011 to February 15th 2012 to May 16th 2012, we can see an up tick of about 10%. homes in contract This momentum is continuing.
We still have plenty of inventory, but I can know see the light. Prices are still declining in the mid-range and highend market but staying steady/ small rise in the starter market.
This is the time to buy. The Lowest prices we have seen in years plus all time record low interest rates.
Need help through the maze of a home purchase or sale. I am available by appointment to discuss your needs. I will throughly explain every aspect of todays market to you.
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