Good evening, I hope everyone had a wonderful super moon weekend. Here is your weekly Hinesville – Fort Stewart residential real estate report for the week ending 23 June 2013. According to the Hinesville MLS there are 516 residential properties for sale in the Liberty/Long county area which is -13! From last week, of those;
46 are foreclosures -7 from last week
69 are builder properties -4 from last week
There are 163 pending sales which is +12 from last week! Of those;
48 are foreclosures +5
52 are builder properties +5
There were 3 closed transactions this past week.
I think the rise in sales can be attributed to several factors in our market, first and foremost is the return of our war heroes from overseas, positive news on the national media about housing as a whole and the fact that interest rates are rising. Locally interest rates are up about half a percent to 3.75% for a VA loan, which is still phenomenal, however the fed actions over the next few weeks could cause a sharp rise in rates. For those of you out there that have prequalified, you need to keep in mind that if rates rise, you may not be able to buy as much house as you previously thought. So if you are on the fence now may be the time for you to buy, check with your lender and see how a rise in interest rates will affect you. Have a great week everyone, be safe and enjoy life. Remember I can assist you with buying or selling real estate anywhere in the world, give me a call today and let me show you the way home.