Talega Homes Market Update Nov. 2, 2012

Wow! In the last seven months the Talega real estate market has turned around. Especially in the condo market, which is where the focus will be on this post. Since my last post in April prices have started to creep up. With so few entry level homes available, there are multiple offers and quick escrows in condo communities such as Verano, Santalana, Alassio and Trinidad.  The hot ticket items are 3 bedroom properties with patios. Last year, and even earlier this year, prices were in the $300’s. Now they are starting at $400k and if you love the property, don’t even think about offering the list price. It won’t get it done. Especially if it’s the only property available.  Here is alink to the a property new on the market in Verano. If this is what you’re looking for, don’t delay, it won’t last long! Take a look for yourself at the Talega condo market year-to-date and how much its improving!

The challenge many buyers who want to get in to the game are having is that none of the three communities above are FHA or VA approved. Verano’s FHA just expired last month. If you’re looking for VA, Trinidad is the complex for you.  With interest rates continuing to be at all time lows, lenders are offering creative solutions to those with low down payments to purchase in areas such as these without FHA or VA. Of course, income and credit need to be strong. If you need a recommendation for a lender, I know several who’d be happy to help.

There are currently only 29 homes for sale in Talega, and 23 are SINGLE FAMILY HOMES. There are 6 CONDOS for sale with 1 being a short sale and 1 bank owned.  This is great for sellers, still an opportunity for buyers with low interest rates and great for the real estate market in general.

I’m here to answer any questions you have on residential real estate. Thinking of putting your home on the market? Interested in buying before rates go up? Just want general real estate info? No problem, I can help.