Are you ready to accept the idea that housing, on a national basis, has moved beyond bottoming out and is now in slow recovery mode? Consider these facts:
- New mortgage applications for home purchases and refinances were up 77 percent from the same week in April 2008, according to the Mortgage Bankers Association.
- Mortgage rates continue to average well below 5% — 4.7% last week on average for 30-year fixed-rate loans and 4.5% for 15-year loans.
- Preliminary numbers from the Internal Revenue Service suggest 1.4 million taxpayers will claim the federal first-time homebuyer tax credit on their 2008 tax returns.
At BOWES, we see more buyers looking for Arlington homes than we have seen in a very long time. Well-priced listings are attracting significant interest at our weekly Open Houses. Many are first timers, but many others are people who are back seriously into Arlington real estate, after not looking for a few years. Some of our sellers find they receive multiple offers and to-date Arlington homes on average are selling for 97% of the listed price. (BOWES listings on average sell for 99% of the listed price!)
If you have considered selling your home, we encourage you to consult with one of our sales professionals at 781-648-3500. The Spring real estate market is here and we have many qualified buyers looking to buy Arlington property!