Real Estate Market Showing Signs of Improvement

The latest national report on current real estate conditions indicates that the market, while fragile, continues to improve. Much of this improvement is a result of buyers continuing to benefit from the lowest interest rates in history on 30-year fixed mortgages. Since April 2009, record low interest rates have helped more than 7.1 million homeowners refinance, resulting in more stable home prices and $12.7 billion in total borrower savings.

-As expected with the expiration of the Home Buyer Tax Credit, new and existing home sales remained below levels seen in the first half of 2010. At the same time, home prices remained level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity in the second quarter.

The Big Canoe real estate market mirrors the national market from the stand point that home sales are up and inventories reduced. With reduced inventories comes price stabiliztion making bargains for buyers more difficult to find. If you are a buyer trying to time the market to buy a home in Big Canoe, this may be a sign that you need to get serious about that home purchase. In real estate, as the stock market, timing is of the utmost importance. As the leaves continue to change colors, this is an excellent time to plan a trip to our beautiful Big Canoe mountain home.