Welcome to the BearLakeRealEstate.com Blog

2012-04-26 17:32:19
Increased activity and sales at Bear Lake

We are finding a new twist in the real estate market at Bear Lake.  Over the past three years we have been selling short sales and forclosures and distress cabins and homes.  Buyers were offering 'low ball' offers to these distress sellers.  The process was slow and cumbersome with the banks.  We are finding a whole new atmosphere with buyers, sellers and banks.  The banks are getting more efficient.  Most interesting is that when a forclosure or shortsale comes on the market, if a buyer does not get an offer to the seller within just a few days, the home gets under contract.  In other words buyers need to see a distress home and get an offer in that day.  If they don't, they will be too late.  We see it happening every day.  So, if you watch our website and you see a cabin you like, make an offer that day.  Also, the 'low ball' offer days may be over.  Banks accept offers that are very near the BPO price....or in other words, the appraised value.  These situations imply that the bottom of the market is here and values should start going up.


March Pending Home Sales Rise, Market Recovering

Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9.  The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing.  “First quarter sales closings were the highest first quarter sales in five years.  The latest contract signing activity suggests the second quarter will be equally good,” he said. 

“The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

Pending Home Sales Index by Region: 

Northeast: slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. 

Midwest: declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. 

South: rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. 

West: increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.

Source: NAR

Read More

 
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2012-06-14 15:04:18
Another round of increased forclosure and short sa

2012-04-26 17:32:19
Increased activity and sales at Bear Lake

2012-04-24 15:03:41
Are Low Ball offers a thing of the past?

2012-04-02 16:58:37
Is a Forclosure Wave Coming this Summer?

2012-04-02 16:58:37
Is a Forclosure Wave Coming this Summer?

2012-03-23 12:30:56
Home price bottoming?

2012-03-16 13:32:09
Myths about Foreclosed homes

2012-03-12 20:18:54
Forclosure inventory is reducing

2012-03-07 12:15:04
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2012-03-06 13:14:58
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2012-02-13 13:17:33
Lender participation in recovery

2012-02-07 10:33:16
More Deals Falling Through

2012-01-13 11:27:18
Record low Mortgage rates

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