With Easter just around the corner, we are experiencing a “soft” spot in the real estate market. Could be that people are gone during spring break or that Buyers are getting skittish regarding the rise in house values? Whatever the reason, it seems like this real estate recovery continues to proceed in fits and starts. Right now it’s more fits than starts. Our number of Sold properties declined from 8 units to 5 units during March. Price per square foot also declined a little from $138 PSF to $136. We do, however, see positive signs as we head into Spring and April is traditionally the best Sales month of the year. So we expect the “start” part of “fits and starts” to happen again any day now. We’re ready!
The information that we are getting from our favorite loan officer (Leonard Pagel at New Era Financial) is that interest rates have dropped a little bit in the past few days. Right now the interest rate on a 30 year fixed conventional loan is 4.5% and on an FHA loan it’s right at 4%. Still real good interest rates.
By the way ….. We just received another shipment of pocket US Constitutions. So if any of you are interested in receiving a free pocket constitution, please let us know and we’ll be glad to drop one in the mail to you. Just our little way of spreading the word of the importance of knowing and maintaining our rights.
We wish all of you happiness at Easter and throughout the year.
As always, we appreciate you taking the time to read our monthly blog post and look forward to any comments you might want to make.