Buyers are Fluttering About!!!!
March 24, 2009
by Courtney Nelson
The perfect combination of home buying factors is bringing home buyers out in groves the last few weeks. Interest rates remain low, down payment requirements are 3.5% minimum and there are still some down payment assistance programs available. These factors along with great real estate values and the high interest in short sales and lender owned homes has turned our cold market to hot. Those of you looking to purchase lender owned homes or short sales be ready to compete with multiple offers. We think that we may see the supply of homes go up in April for 2 reasons. Sellers love to list early spring and the governments moratorium on foreclosures may be up in April so the foreclosures that were on hold may be coming back on the MLS as short sales. One tip to keep in mind is most homes are selling between 96 and 98% of asking(last listed price) and some short sales and lender owned are getting at the lowest 90% of asking but more often they are getting between 95 and 98% of asking, and we will see that percentage go up as we see more people competing for offers.
visit www.coloradosells.com to search the MLS or for more real estate information
March 24, 2009 at 9:40 pm
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