Well, the slowdown is official, but I can tell you that with the current interest rates and the drop in market value... this is the strongest Buyer's Market I have ever seen!
Current interest rates today 5/5/08 from Bankrate.com is 5.77% for a 30 year Fixed Mortgage!
Quoted From the RMLS March Market Action Report for ALL OF DOUGLAS COUNTY: (not just Roseburg)
"March Residential Highlights
The numbers for March 2008 compared with those of the same month in
2007 show a 16.2% drop in new listings. Closed sales also decreased 43.8%,
while pending sales fell 38.7%.
First Quarter/Year-to-Date
Comparing the first quarter of 2008 (January-March) with the same
period in 2007, new listings were down 1.5% (678 v. 688). Closed sales also
dropped 33.1% (182 v. 272) and the number of accepted offers decreased
29.5% (230 v. 326).
Appreciation
Comparing the average sale price for the 12 months ending in March
2008 with that of the 12 immediately prior, it depreciated 1.8% ($208,300
v. $212,100). On the other hand, the median sale price rose 2.8% ($185,000
v. $180,000)."
If you are thinking of Buying real estate this year, you've made a good decision!
Let us help you with all the details!
Bonnie Jenkins, Principal Broker ABR CRB, CRS, GRI
Written by:
Joy Young Gugel, Broker
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