Real Estate in the Foothills

Toughest market I've ever worked in! And I started in real estate in 1977. But what an opportunity for buyers, 1st timers and old timers. There are "bank owned" homes all over the place and "short sales" too. I Recently sold a home in the $600's and one in the low $200's and both were good deals! As long as the interest rate stays in the 5% range, homes will keep selling. Prices are still not rising, that's because of the tough economy we're in. When you buy your home today, you need to be able to afford it, not with adjustable rate loans, or pay option arms, but with the old standard, "fixed rate loans". Most new loans today are FHA insured loans. Currently the limit on FHA insured loans in our area is $417,000(standard FHA), jumbo FHA goes up to $580,000. Which means you have a wide selection of homes to choose from. check it out at www.prurealty.com/clete .
7/30/09