Prices Down But Short Sales Declining

A very nice article in yesterday’s Park Record newspaper echoed many of the statistics I have recently reported: 

1. Short sales and distressed property inventories are decreasing and making up a smaller portion of our market.

2. Prices vary by neighborhood. Some neighborhoods, like Park Meadows and Silver Springs have seen prices go up; prices are down in other neighborhoods.

3. When a home is priced right, the buyer generally pays about 95% of list price.

4. Desirable homes are sold quickly with multiple offers while other homes may sit on the market for a year or more.

5. Even though market activity is down from the peak, there are on average about 7 sales per day, every day.

The takeaway–There are still great opportunities for buyers, but if you are looking for a distressed property, that window of opportunity may be closing. If you are a seller, your home can be one of the seven per day that are selling if your home is priced and presented right.

For the complete article, copy and paste this link in your browser: http://www.parkrecord.com/ci_19191281

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