What is up in real estate today? Prices and interest rates. On May 28th the rates jumped 1 full point. Over the last 12 months in the Apple Valley, Hesperia, Victorville area prices have gone up $18-25.00 per sqft. What does that mean? If you own a 2000 sqft home and it was worth $120,000.00 last year it would not be worth $160000.00. That is great appreciation.
Why are interest rates going up? Because values have gone up so much and very quickly. One way to slow it down is take a few buyers out of the market. Will this really help? Not a lot since 35% of all the transactions are cash. What is the solution? Who knows. What does this mean? If you wanted to down size or move up now is the time and do not wait. What does this mean for short sales? They are going away however they are not gone. Particularly in our market. Orange County in California for the most part is done with short sales we are not. If you know anyone that needs to do a short sale have them call.
If you know of anyone thinking of buying or selling have them call. Better yet call me so I can call them. 760-605-1632 thanks.
Why are interest rates going up? Because values have gone up so much and very quickly. One way to slow it down is take a few buyers out of the market. Will this really help? Not a lot since 35% of all the transactions are cash. What is the solution? Who knows. What does this mean? If you wanted to down size or move up now is the time and do not wait. What does this mean for short sales? They are going away however they are not gone. Particularly in our market. Orange County in California for the most part is done with short sales we are not. If you know anyone that needs to do a short sale have them call.
If you know of anyone thinking of buying or selling have them call. Better yet call me so I can call them. 760-605-1632 thanks.
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