The U.S. Census Bureau says one in every nine homes in the United States is sitting vacant, and economists predict that it won't change nationwide for at least three years. The number of housing units in the United States increased by 8.65 million from 2002 to 2007, but during that period the number of U.S. households rose by only 6.7 million. Subtract a half-million homes that will be torn down or lost to fire, and that leaves 1.3 million units.
Hmmm. That's seems to mean there will be a lot of great buying opportunities. We are seeing them in Silver City (finally), and yet the market seems like it is showing signs of recovery.
The first quarter sales stats for the regional MLS are out and we saw a continuing decline in sales units. In spite of the decline, the median home prices were relatively stable. This is a combination of some Buyers still paying above fair value for their dream homes being offset by the bargain hunters scoring the real deals that are showing up.
NEWS: There is a new mortgage service setting up shop in town. An independent loan brokerage with affiliations (in progress of finalizing) with wholesale lending institutions.
Home Loan New Mexico is locally owned and was just approved for license in New Mexico as a Mortgage Company. Refinancing and purchase loans are available. A full disclosure lender, you will know what the fees are before committing to the loan. Offering high discounts to credit holders with FICO above 720. Additional discounts for loan sizes above $250K too.
Visit our newest member for free rate information and quote. Pre Qual (pre qualification) is available too. First Time Buyer questions are welcomed. Home Loan New Mexico
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