So there really isnt a great way to say that this October was the worst October in 3 years. Comparing October 2010 to a year ago, closed sales decreased 36%, pending sales are down 22% and new listings are down 9%.
Even comparing October with this past September, closed sales are down 7%. The thankful part? Pending sales increased by 3% and new listings fell by 12%. That is actually really good news.
In regards to feeling thankful, the 4 clients that our team closed this month are pleased with their sale or purchase. Why are we telling you this? I know we say it every month but now is as good as time as any to explain. Now is a good time to buy and sell.
Buying
1) There is a lot of inventory on the market to choose from
2) We are watching interest rates, very slowly creep higher, which might indicate that we have hit the low we are going to see for interest rates
3) Sellers are feeling desperate and are more willing to negotiate
4) Contractors are looking for work, so if by chance repairs need to be done afer closing, you can find a lot of great deals on work
Selling
1) If you price you home well, they are still selling in just a few weeks. PRICE really does speak
2) What you might have to concede on your sale, you can make up on your new purchase
3) You get your listing on our webpage???
The market is not great but with the right agent, the right loan and some patience, you might be amazed at what you can get out there...
Please let us know if we can help you!
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