02-04-2013 09:58 AM
Interesting article I thought I'd share before the irrational buying begins in the spring ;-)
02-07-2013 05:41 AM
Forget Spring. Its already happening.....
Prices (per sq ft) are already up about 5-10% in my neighborhood, since we bought last year.
My guess is that the "new, even lower" interest rates, courtsy of the Fed, will be driving the Spring Market, this year.
Last Spring, rates were at "historic lows", near 4%. And we all said WOW, rates cant get lower.
This year, so far, rates are closer to 3% (than 4%), and that makes a large difference (10%) in buying power.
I'm glad that we are "done" and dont have to spend another Spring going to Open Houses.
02-09-2013 01:41 PM
surely the prices are up this year.... in my area there is biding war and most of the houses specially the multi-family are going 10K to 20K above the asking price! it is going another war this spring!