Local condo markets score another win in the recovery game: Last month, the total sum of Seattle-area closings on condominium homes increased a full 18 percent over last February’s figures, according to a report by the Seattle Post-Intelligencer.
What’s promising about this sale increase is that it doesn’t result from a drop in prices –on the contrary, median condo prices in the Seattle area rose a full 6 percent over last February’s average.
With prices still increasing, and local markets on the upturn, now might be a good time for prospective condo buyers to take action.
For more information, read the PI’s report on their website.
A stabilizing market isn’t the only factor compelling condo buyers to act now.
According to the Seattle Times, today’s historically low mortgage rates are expected to rise as early as April 1, after the federal government ends the bond-buying program it’s been using to keep rates low.
The program, which has kept interest rates hovering under 5 percent, is scheduled to end March 31.
Read the Seattle Times article on their website.
With prices still increasing, rates remaining low for a short time longer, and local markets on the upturn, now might be a good time for prospective condo buyers to take action.
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April 1st, 2010 at 4:33 pm
[...] Seattle Times and PI: Local closings rise 18% over last year, prices up 6%, and low mortgage rates r… [...]
April 10th, 2010 at 5:18 pm
[...] These rising rates come as no surprise. With April marking the end of a federal program that has kept rates artificially low, this climb was predicted by economists (see Seattle Times and PI: Local Closings Rise 18% over Last Year, Prices Up 6%, and Low Mortgage Rates R…) [...]
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July 17th, 2010 at 3:01 am
Since we’re on Seattle closings rise 18% over last year, prices up 6%, and low mortgage rates rising in April | Washington Square Buzz, When buying property as your main home or as an investment, the amount of deposit you can provide will affect the interest rate you can negotiate.