Homes ARE Selling!
We’re excited about where the real estate market is headed in Riverside. Over the past 6 months or so, we have seen activity in the marketplace soar. There is a sense of optimism that we are seeing from both our buyers and sellers.
With interest rates at an all time low, it is a fabulous time to buy. However, on the flip side, with inventory so low, it is also a great time to sell your home quickly. Check out this Wall Street Journal article which points out that “if you can buy a home today, you can save the difference it would cost you to rent even if you stay in the home just five years.”
Here in Riverside, well priced homes are experiencing multiple offers, and the sellers are feeling confident that their home will bring in a fair market value. Prices have been creeping up in many neighborhoods in town which is very exciting. Most of the business is in the mid 200 to high 300 thousand dollar range, but we’re also starting to see things move in the higher price ranges as well. Even jumbo loans have historically low interest rates! We’ve also had sales recently from homes that we listed which sold before ever being entered into the MLS!
If you have friends, family or work associates who are looking to make a change or need real estate advice, be sure to have them call the Ransom-McKenzie Team. We encourage you to post your questions right here on our blog for a fun, interactive conversation about our business. Let’s get the conversations started!