Market Update

May 8,2009

Alittle bit of economic good news gave way to higher mortgage rates. I love to say "I told you so." It means I am reading the signs right.

This is good news for my clients.

Interest rates are slightly above 5% again. Even with bad news about stress tests and Bank solvency, Wall Street is recovering. Oil is back up to $55 a barrel.

Inventory of housing is back in a 8-9 month supply range. Remember-6 month supply tilts us back to a SELLERS MARKET!! But...if rates go higher, buyers go away.

Don't wait too long to make your decision. There is an $8000 tax credit for 1st time buyers...it ends in December.

Call me today!

May 1,2009

We have seen a jump in sales. Multiple offers are not uncommon on houses that are priced right.
Properties under $100k are getting scarce.

Interest rates are moving slightly. We may not see 5% forever.

If we get an influx of Texas Soldiers prices will move up as the inventory is reduced.

Don't wait too long to make your decision.There is an $8000 tax credit for 1st time buyers...it ends in December. Call me today! Also call me if you have questions about your property valuation. You should get it in the mail today or tomorrow. This determines your property taxes.

April 27, 2009

This week will bring more news on Consumer Confidence.
This may be the sign that Economists have been waiting for. It may point to a slight recovery.

Watch for that data on Tuesday, then check rates at Bankrate.com to watch the uptick. It may be slight, but I predict it will be an uptick.

This may be the best interest rates we see for awhile. The market is picking up in Colorado Springs.

Houses that are priced right are not staying on the market. We are getting into the prime "selling" season. Don't wait too long to make your decision.