It seems like just yesterday that our local real estate market was in the dumps and prices were dropping like a rock. Well, a strange thing seems to be happening out there. The current market is pretty good with many sellers receiving multiple offers on their home. Prices have stopped dropping and in some cases we are seeing homes selling for a bit more than they would have a few months ago. There are a few reasons for the changes. One is the number of homes for sale locally is way down from 18 months ago -- so the buyers have fewer to chose from. Another is the home investors are coming back into the market. Plus, the "normal" many home-buyers think prices have bottomed out and want to take advantage of the historically low interest rates -- sitting at less than 5%. These and (other factors) are adding up to a surprisingly exciting real estate market. Of course, no one can accurately predict how long this will last or where things will be even six months from now. We will be watching our local market very close and reporting here what we see in the coming weeks.
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