The Demand for houses are up right now for every kind of home. There are alot of homes out there and not enough buyers but the buyers that are out looking are looking for the good deals. That being said since 08 home prices are down alot but they have still continued to move and will continue to go up as the years go on. If you are looking for a specific area let me know I can give you a more detailed search than just that specific zip code.... more
If you are talking about the Estates including PVE and RHE, they are fairly resistant to the economic turmoils because of the ff reasons: 1. Most are long time residents and they are not in the market to sell. If they decided to sell and they do not like the price, they pull their properties off the market 2) Most homebuyers in the area are aware that they have to open their checkbooks in order to get the property they want, hence this is a well-thought of move. 3) Fannie Mae and Freddie Mac are reconsidering their stance on jumbo loans so as we have more understanding on what is going on in the market, the more loan products will be wheeled in later. You have a better chance on more percentage downturn in RPV than in PVE.
Should you have further questions, do not hesitate to call me.
Hi Steve. Prices are holding pretty steady in your price range. The median price for the Penninsula is down a bit, but that includes less desirable areas of RPV. I would say now is a good time to be looking. Inventory is up which gives you more choice and many buyers are holding off which gives you more room to negotiate. Much of the problem with lower priced properties is the inability to get a loan. That isn't the case in the $1.5 and up market with buyers. PV has always held it's value. I would start looking if I were in your shoes rather than wait.... more