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Conditions are absolutely ideal for purchasers of real estate in our area. Inventory is excellent. Interest rates are around 6%. And prices have not been better in real terms in many years. And in spite of what you might hear in the media, banks and mortgage companies are anxious to write new loans. For todays buyer the world is your oyster!
Even sellers have some good news in our area. Although prices have fallen significantly, the number of sales are encouraging. In the last 45 days in Fenton, Lake Fenton, and Linden Schools, there have been 80 closed sales. During this same time last year there were only 73 closings. It appears that prices may have fallen enough to attract more buyers and sellers into the market. It is too early to tell if we have "turned the corner" but it is nice to have encouraging news for a change.
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