The market is beginning to show some movement here on Whidbey Island. We had a very early spring and then the weather did turn for a couple of weeks, keeping buyers away. And of course, Mother’s Day isn’t a time to go house hunting, particularly if you want to stay on the good side of Mom!! But things are definably feeling different, with calls from out of town buyers, renewed interest from people who have kept away for a couple of years and most importantly, a good economic outlook on a federal level. Areas of California are showing a big increase in both the number of houses sold and an increase in the median price. The foreclosure market and the Bank Owned Market is still strong as we are seeing the second wave of people being forced into bankruptcy…those who really did try to hold on to their properties and work with the lenders…..which often is a impossible task.

So, look for more sales in the next few months. With interest rates so low, people are hoping to buy in or buy up and for higher end properties, the Buyers are often cash buyers..as suave investors are putting their money in real estate rather than the volatile stock market.

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This entry was posted on Sunday, July 4th, 2010 at 9:35 pm and is filed under Real Estate Market, Real Estate Tips, Whidbey Island. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.