DELMAR, Del.- It might be time to finally sell your house. Economists say the country's housing market is starting to show signs of improvement.
That could be good news for anyone who has had their house on the market for a while.
RE/MAX Realtor Pam Price in Wicomico County said buyers and sellers are a bit more optimistic this year because sales in both Wicomico County and Sussex County, Del., were much higher in March compared to those in the month of February.
Melissa Malone's house has been for sale since August in Delmar, Del., but, seven months later, she is still trying to sell it.
"If God wanted it to sell it, it would sell," Malone said. "And when it sold then it would free up finances for us to be able to help more people that are in a lot worse situations than we are. "
Price said Malone does not need to stress out since Delmarva's housing market is starting to breathe life again.
"The banks are lending the money," Price said. "So, if you qualify in their criteria of searches as far as your credit scores they are definitely lending the money and the interest rates are 3.875 percent for the most part."
Price said that back in February her home sales were $500,000. In March that number tripled to over $2 million. It is a trend she thinks will continue.
Parsonsburg resident Kristen Johansen has been looking for a house for a few years now. It is buyers like her whom Malone said she is hoping to attract.
"I have to have enough rooms for my children," Johansen said. "So I have to make sure I buy the right kind of house and I have to make sure it's safe for them. Plus I have one child that is disabled so I have to worry about the area I live in."
For now though, Malone said she's remaining hopeful that her house will sell soon.
"We have seen a lot more showings in just eight days just less two weeks ago so we are seeing it pick up," she said.
Price also said that sellers have to be aggressive about how they price their home.
She said homeowners need to keep in mind that there is competition between homes for sale and homes foreclosed on, on Delmarva.
1 comment:
That is the problem today, qualifying with your credit score. So many people's credit scores have taken a beating in this economy, that they can't get a loan.
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