As Buyers Are Actively Searching For Homes
A survey by Harris Interactive shows buying and selling might be a different game now compared to the last years’ status. Due to the drop in houses now available, offers for many properties are rising.
The survey was conducted online during May 2013, with 2,058 adults participating and showed 33% of the potential buyers actively searching for a home had not been able to find one for over a year, making them more willing to work with the sellers in order to purchase. The buyers showed a willingness to compromise on things like locations and amenities.
Inventory is now at the lowest it has been since 1999 according to Lawrence Yun, the chief economist for the National Association of Realtors. According to Yun, there is a 40% rise in buyer traffic from a year before. And even though prices are rising, the low mortgage rates are keeping homes in an affordable range.
If the trends continue through 2013, homeowners who took their houses off the market to wait out the slump of the past couple years might feel confident that as sellers they are once again in a good position and will list their homes this spring and summer.
Demand for rural property should see a spike as more 30 somethings take an interest in growing their own food as the promotion of food awareness spreads across the country. Right now is a good time to fulfill that dream of owning land while the interest rates are still low.
It is important when buying rural property to have an agent experienced in land since there are many things to consider when buying any rural property. Water rights, mineral rights, access, utilities, land size for your needs, zoning, soil and easements are all complex issues to consider.
At Cheryl & Co we are experienced in all aspects of buying and selling land, not just houses, and we have a deep love and intimate knowledge of the area we call home. Give us a shout (ok…don’t yell, you can use the phone!) and we will show you the best properties Garfield County, Colorado has available.