Harry’s Monthly Real Estate Insight

There is lots to talk about. The increase in sales, decrease in number of listings and the continued best interest rates I have ever seen! Andrew Kantor, an information analysis with the Virginia Association of Realtors, wrote in an article published in the Virginian Pilot this weekend “that after five years we can say yes the recovery is here. There are simply too many positives to ignore”. He is right, but there is some more news that the market is progressing but very slowly. We still have a large inventor of bank owned homes that are pushing the prices down for the normal sellers. The article goes on to mention that if one of the next three things happen, we could go backwards:

1. Interest rate rise
2. Our economy does not move forward/unemployment rises
3. The European mess gets out of hand.

Personally I am encouraged by the fact that banks are handling foreclosures quicker and response time has been cut considerably on offers on the bank owned properties, the number of listings have declined, interest rates are great and more buyers are looking at homes. Price, condition and the ability to get a loan are still the keys. We know where to price them to sell, call us, we can help you. Hope your AC can get your home down to a tolerable temperature. Most of our AC systems are just not made to deal with this extreme heat.

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Specializing in properties in South Hampton Roads, Virginia.