Melbourne Area Blog

We have several positive factors going for us in this New Year!

1. Interest rates are at a 30 year low. Just under 5% for a 30 year fixed rate mortgage. In some instances at around 4.5%

The local banks are lending.... just drive around town and read their signs. Quite a few are advertising money to lend.

2. The number of sales each month has been increasing for the better part of last year. compared to the same month in the previous year.

Since January 1st of the new year there have been 400 single family homes go "contingent" or "under contract".

3. Although inventory is still high due mostly to "short sales" and foreclosures, the inventory is down from 7300+ single family homes listed in December to under 6000 listed right now.

Amazingly enough in the last few months I have seen several hones purchased, remodeled and put back on the market. It looks that the investors may be back in the market!

Questions or comments?

sandy@sandylegere.com