According to a real estate newsletter my realtor friend in Dallas sent me, it is now a "seller's market" in many areas of Texas.
I can see some big changes in resales in my own community: homes under $300,000 are selling very quickly; those under $200,000 fly out the window in about a week or so, IF they are in excellent shape and realistically priced.
When we bought our condo two years ago, we go slammed on the sale of our big Victorian, but more than made up for it on the purchase. The poor guy that sold us his condo, had to bring cash to the table to close the deal. Last month a smaller unit on our block sold in 10 days for more than what we paid.So things may be changing in our area. Cross your fingers everyone.
REL, do you have any thoughts as to what the loss of so many homes due to "super storm" Sandy might do to the market?
Posts: 1479 | Location: Morristown | Registered: Jun 12, 2010
Weather and damage can affect the marketplace, of course. Patience is virtue. However on the positive side, you will see, as in Katrina, as is investors packing in to buy up damaged structures. Not such a bad thing, as structures "can" rebound faster than homeowners can, if under insured..or not insured.
If I were a millionaire..I would have gotten help to those people alot quicker than the gooberment.This message has been edited. Last edited by: real estate lady,
We are about an hour south of Silicon Valley and have been depressed for a long time. Right now everything is selling and fairly quickly! We had friends over yesterday and they have been on the market for about a month and got an offer. They had a lowball offer right away, but did not take it. Seems like things are definitely picking up!