How is the market?
Posted by Realtor on August 14th, 2008
This is one of the most common questions I am asked these days concerning real estate sales.
I have to say……people still have to live somewhere and move for jobs and their family’s are growing. So in response to that question. I continue to see sales and not only in my neighborhood. Others are telling me of sales in theirs. So things are not as grime as one would have us believe.
If you want to sell you home. Just set your intention, organize your home, do the home prep and find yourself a positive realtor who is willing to work with you to get what your looking for.
Being a realtor in my opinion is being creative in all markets.
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The current market in the city of Longmont and surrounding is generally a buyer’s market. Pressure from short sales and foreclosures in most neighborhood has created a declining value to most properties. The median sales price in 2008 was $220,000 with an average of 97 days on market, DOM, for single family homes and attached dwelling median sales price was $169,500/134 DOM, within the city of Longmont.
Although interest rates are in the 5% range for a 30 year fixed, more stringent lender qualifications have become challenging for some buyers.
It is a great time to buy in the area for anyone wishing to invest in a property for at least 5-7 years.