It's Friday and sunny and warm! Perfect weather for real estate! And as flowers, shrubs and trees begin to blossom in Georgetown, everything takes on a hopeful air.
Briefly, just as the weather is heating up, so is the real estate market. More people are coming to open houses, more properties are selling, the inventory is lower than it was this time last year, and there are even frequently, competing offers on properties. The multiple offer situation is concentrated more on the lower priced end of the market...which for us is $350,000 - $600,000. But, interestingly there have been some competitive situations in the next level up, $600,000 to about $1Million. Those are all good signs.
If you are considering putting your property on the market, keep in mind that though there is increased activity, it is still a "buyer's" market, and because our buyers are very well informed about the relative cost of housing it's important to be very careful to price with the market, so to speak.
One other thing... appraisals have become an issue in many cases. So even when properties are selling at higher prices, it has become increasingly difficult for appraisers to come up with enough comparable properties to justify the sale price.
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Good Post Darrell. We had a beautiful weekend over here. I went to the beaches and the traffic was heavy. I hope some of those folks from Georgetown are coming down here to buy second homes. It is REALLY a buyers market at most of the beach communities although we have had some stabilazation of prices over the past couple of months.
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