Vision West Realty - News and Views

by: Harold R. Hawkins, CRB, CRS, GRI, Broker/Owner, Vision West Realty

MAY, 2012

REAL ESTATE MARKET CONDITIONS

In a word--robust!  Sales in our area are increasing dramatically. 

Homes priced $250,000 and below are moving at a brisk pace due to increased demand and limited inventory.  New construction in the aforementioned price range is limited due to land costs. 

Homes in the $250,000 to $300,000 range are also seeing increased activity.  The supply of homes in this price range is better but by no means can they be described as abundant. 

We are experiencing increased interest from builders and developers looking to build homes in the $275,000 plus range and I expect to see a pick-up in construction activity in the near future.

FINANCING

They are still giving money away at 4% for a 30 year fixed loan.  UNBELIEVABLE!

JOB MARKET CONDITIONS

The mines, exploration companies and affiliated service companies are hiring and the rental market is extremely tight.