Jenelle Ferrer

Jenelle Ferrer
Your Realtor

Tuesday, July 5, 2011

Prices Poised to Climb

The latest (today) real estate news in the country reads as follows:

“Prices for U.S. homes may climb as soon as the third quarter, ending declines as foreclosures decline make more home available for sale, Housing and Urban Development Secretary Shaun Donovan said.”

Read it here: http://bloom.bg/iyMEvx.

What’s been going on with Central Florida real estate? Prices are stabilizing and the amount of inventory is the lowest it’s been in quite some time, while home sales have steadied. Fewer homes on the market mean more aggressive bids on properties. Many of you have seen this firsthand: you place an offer, but there are multiple offers on the same property. Most of these properties, short sales and REO/Bank Owned homes, are selling at list price or higher.

Does this mean it is inflation? By no means, these prices are still lower than market value but more people want a good deal and understand the market.

If you would like to discuss this in more detail, please feel free to email me!

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