June 29th, 2009 5:31 PM by Rob Robbins
Over the last two weeks market activity has concentrated on homes under $ 240,000. This would not necessarily be unusual since many families are looking to make a move and summer time is a good time to do it.
However, this year is different. Most of the homes in our market with good activity on them are considered a great value or low prices. Distressed homes including Short Sales and foreclosures are getting most of the attention. The last report we ran 45% of the market sales were distressed homes.
This is not good for the average Joe wanting to sell his home in the current market. There are two bright spots for Joe, one he can sell his home at the current market value and move up into a nicer home at a discounted price and two, we are getting homes off the market. Less competition!
The banks and mortgage companies are the competition right now. The good news is you can get a great buy if the timing is right for you as a buyer.
Rob
