A Seller’s Market

The Bond market has been very volatile over the past many days, but rates are still staying low – and dropped again this afternoon. Much of this volatility is due to the plunging Euro, which is boosting the US dollar. All of this translates in the mortgage world to refinances kicking in again, due to the low interest rates, which are currently hovering around 3.75% for a 30yr fixed.

However, in regards to purchase market sales, I thought I’d provide all of you with a few graphs showing the current market – slim pickin’s!! These two graph represents the Beaverton area from the most recent Altos Report. The first one show Listed Properties, the second one shows Price Per Sq. Ft. – can you say “a seller’s market!!! Hopefully, with rates being so attractive, more sellers will be enticed to put their homes on the market and move up to their next dream home, allowing the FTHB greater options in the housing market. Anyway, if you have a great house for sale, you’ll get a good price. And, if you have buyers out there, make sure to get them pre-approved first, before heading into the negotiating table.

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