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Real Estate, News, & Updates Information Blog

Summer 2010
June 1st, 2010 4:28 PM
Our local market appears to be stabilizing somewhat. The range of $250,000 and below is quite competitive between buyers and investors. Many first-time buyers are entering the market as prices have fallen dramatically since the peak of our market in 2005 as are many investors entering the market looking to buy rental properties or to fix and flip homes. Homes in the $400,000s and above range are fairly soft. This is mainly due to the fact that lending is tough and buyers who wish to buy in this range simply cannot get loan approval. In addition, foreclosures continue to dominate the market and this has put a downward pressure on homes in the $750,000 range and below the last several years which this has made the market soft from 400,000-$700,000. 

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Posted by Reginald Jackson on June 1st, 2010 4:28 PMPost a Comment

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