Are you kidding? 4.5% for 30 year conforming??? What is holding up the consumer? I sure wish that I were in the position to refi, but for those of us in the Real Estate industry, we don't get to take part.
But the good thing? We can help the customer! Whether you're a buyer, investor or real estate agent, this is a fantastic time for buying. The inventory is at an all-time high, the rates are at an all-time low, and the fruit is just ripe for the picking.
Here's my challenge: Give a lender or your real estate agent a call. Find out if there's any benefit to you with these fantastic rates. If you don't, I guarantee, you are going to wish you had in a few years. You never know, you just might save yourself a lot of money!
We all hear how "bad" the market is right now, but do you ever look at the actual numbers? I know that I frequently overlook them & their importance, but sometimes I will check them out & be pleasantly surprised. Just for kicks, I thought I'd post the recent statistics for the Mid-Willamette Valley.
These stats are for the month of November, 2008 - cover Linn & Benton counties, and were pulled from our local MLS - Willamette Valley Multiple Listing Service, based in Salem, OR:
|
Residential/Acreage Types |
Albany |
North Albany |
Brownsville |
Corvallis |
Lebanon |
Sweet Home |
|
Units Sold 12 mos to date |
510 |
106 |
14 |
509 |
250 |
147 |
|
Average Sales Price |
$196,698 |
$313,098 |
$225,686 |
$299,634 |
$180,022 |
$160,442 |
|
Average Square Footage |
1,569 |
2,231 |
1,678 |
1,827 |
1,499 |
1,405 |
|
Average Cost per Square Foot |
$125.00 |
$140.00 |
$134.00 |
$164.00 |
$120.00 |
$114.00 |
|
Average Days on the Market |
149 |
158 |
123 |
115 |
133 |
153 |
|
Currently Active |
392 |
107 |
32 |
333 |
263 |
170 |
http://www.wvmls.com/web/statistics.asp
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved