Happy New Year Readers ! Yes, we’re 20 degrees below normal and freezing but that is not impacting the local real estate market.
Over Christmas & New YEars, I must have received 5-6 inquiries regarding homes in our area.
Interesting to note, the price range & type of homes being searched for are varied.
We seem to have moved out of the ground level of “Being safe” at the $300’s-$400’s ( Yes, there WERE actually some good deals to be had in this price bracket….townhomes of course.
Now, the “Enlightened” buyer is catching up to the fast tracking market & financing changes.
So are we transitioning to a Seller’s market ?
Aah, what a whimsical supposition.
As a Realtor I say with no condescension whatsoever,……..”Dream On” . To clarify, I am a homeowner myself, so believing & conveying “Realism” is vital.
Having said that, please be aware that for almost 3-4 months, our area has had very little in terms of inventory….and anything attractive that has come on the market HAS been snapped up…..with 8-12 offers on most & above asking for some.
So what ‘s new for 2010 ?
Changing lending standards for sure.
Interest rates are on the rise …fast heading to 6%.
FHA AND conventional credit/loan ratios are requiring more notches to be tacked on to the borrowing ability of many a qualified buyer.
New standards & tests to weed out unqualified/uneducated mortgage officers are already underway.
In a neighborhood watch website, one can see the default ratios for many local lenders…It is quite amazing that loan officers continue to preapprove borrowers for hefty loans, that would hurt their very own “clients” in the short AND long run.
And, I do have personal, recent experiences to back that up.
So, what’s the plan…….Wait …..Buy……..Buy Now?…….
That makes for another post………soon to come.
BTW, for those curious…….a technical glitch seems to have wiped out all my posts in between Aug 2009 & now…………I hope to compensate with more interesting & updated reading to follow.
Rarely available desirable End Unit Eastport Model on Premium lot AND on Cul-De-Sac.Facing North-East. This is the ONLY Eastport model in this entire townhome community on a Cul-de-Sac…….an enviable private & serene location.This spectacular end unit features a magnificent kitchen and family room with gas fireplace, spacious living & dining rooms, 2-Car garage, full basement & convenient 2nd floor laundry.Lots of natural light throughout.Exquisite master suite includes an expansive sitting area, large walk-in closet, and sumptuous private bath.9 ft ceilings & hardwood flooring on 1st floor, Lifetime warranteed Anderson Windows, Corian Counters in kitchen & a layout that is Open & spacious. In-ceiling speakers, marble fireplace, crown molding, home security system, backyard paver…
If your move brings you to the East Coast ……….Welcome ! Princeton embodies a diversity that is engaging to all…….there are young families & empty nesters, students & professionals. There are wonderful activities for New moms & kids to get involved with , cultural happenings & seasonal events related to the arts, reading, music spanning different ages & interests. The lifestyle is vivacious or relaxed………this is an established community of a population that actively participates in the many possibilities the area offers………dining, shopping, theatre, literary pursuits, farmers markets, holistic living etc. As a Realtor specializing in the Greater princeton area & a resident for over 12 years, I can honestly say I love it here . Once you’ve decided on the area , included any commuting or lifestyle factors, it would simply be a matter of finding the right home to call your own. Princeton offers the privacy of mansions & estates, modern apartments & townhomes , traditional colonials with pools & relaxing backyards and downtown studios…………a variety that’s hard to beat. Good luck with your decision 🙂