Lakes Region of NH Real Estate Market Report 2/7/08
Giant Attitude
The total number of residential listings available as of February 1 for the eleven towns listed came in at 793. That compares to 736 last February and 778 in January.
It certainly feels like the market is getting a little busier since the holidays. A number of other agents, home inspectors, and mortgage brokers also have commented that they are seeing increased activity. There are some key ingredients present that should allow us to have a better market in the Lakes Region this coming year. Interest rates are truly phenomenal right now and are running ¾ of a point lower than last year. There’s also a lot of inventory available with many, many homes already greatly reduced in price. So there are some deals to be had. We are seeing some savvy buyers that recognize that you don’t often see low prices and low interest rates at the same time. And we have some sellers who have realized that even if they have to sell for a little less now they can make it up on the other end when they buy something else. A ready, willing, and able buyer in this market can often negotiate a pretty good deal.
Will prices go even lower???
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