The truth about Whidbey Real Estate

I just wanted to let you know the truth about whats going on with Whidbey Island real estate.  The phones are ringing again with real estate inquiries. Of the 53 new listings (homes placed on the market) since, January 1, 2009, twenty five have gone pending in the first 20 days of the month. That is roughly a 46% pending rate in just 20 short days! 
The banks are well capitalized and are making home loans at near record low interest rates. Borrowers with great credit can get a 4.5% loan at just about any mortgage company on the island.   There are many great housing choices and in most cases the sellers are negotiable.

This is an example of a brand new home in a beach community for only $272,800!