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Market Conditions in Lakes and Birds : Real Estate Advice

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  • Local Info4
  • Home Buying2
  • Home Selling0
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Activity 2
Sat Jul 27, 2013
Brian Ripp answered:
Hi Shonaa,

Just a short market update in addition to the advice below.

June 2012 to June 2013 Listings are down approx. 25%

Median home selling prices;
2001...........450K
2006...........700K
2009...........540K
2012...........580K
2013...........720K

Possibly due to supply and demand, prices in some areas are higher than the peak of 2006. Most of that increase came in 2013.

Sit down with a Broker and discuss your needs and the market conditions in your price range.

good luck,
Brian
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Sat Jul 20, 2013
Dean Paul Dominguez answered:
The power of the ARM allows you lower payments in the short term. If you intend to sell in the short term an ARM might be right for you.

Further, deciding on an ARM will naturally make you inquire about where interest rates are going for the future. If you believe interest rates will increase later, you can decide to use the ARM but be prepared to sell or refi. ... more
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