Condos Sales are Picking Up
Posted by Veronica Hicks on Monday, July 5th, 2010 at 7:12pm.If there is any indication from the traffic from our buildings or telephone calls, it seems that the activity has picked up! According to Jon Lansner at the OC Register - condos the statistics show that sales are well above previous years and heading toward the best month since June. "Condos sell at the fastest pace in 4 years". Based on what I am seeing, the surge in selling is driven by a few things. First, in many of the resale statistics in the building directory at Condosetc.com, the trends are showing larger discounts on original list prices and fewer days o. market, meaning that sellers are finally starting to "get it". Second, the banks have seemed to ease up a bit on the guidelines. Not that they aren't still tough, but there seems to be lower ratios required on factors like owner occupancy, etc. Third, the banks are finally taking some of the short sale inventory back at foreclosure, (still not enough though). Last, it seems that the cash buyers are out in full taking advantage of the deals.
Don't get me wrong, the market is moving .. but there is still alot of inventory out there .. but too early to tell.
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