Lonnie Hohl Realty

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Lonnie Hohl

Is now the time to buy or sell???

The answer is both - Now let me explain what I mean by YES both.

First for Sellers - Currently in the local Sioux City market the number of active homes for sale is down by 32% from the average.  In 2013 the number of homes sold was down by 12.5% from what what we see sold in a typical year.  So the question that should be asked is how much longer will Buyers wait?

Next for Buyers - Although the housing inventory may be low than normal, there are still great homes to be purchased.  One of the key factors that Buyers need to keep in mind is home mortgage rates and what they may do.  Several top economist are predicting  interest rates will rise to 5 - 5.5% by early 2015.  Also FHA is pushing lenders to ease up on loan qualification to get more buyers into the market.

Still not sure what might be right for you? Like my facebook fan page " Real-Estate-in-the-Greater-Sioux-City-area" and read some of the newest real estate articles.  Or call or email me - Lets Talk!

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November 19, 2017 10:54 AM

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