Rod Sager
The headline says it all. Here in Vancouver USA we have some areas with inventory tighter than a submarine three miles deep. I took a listing recently in Cascade Park and checked out the "competition" There was only ONE available house (in the 250k-300k price range) in all of Cascade Park. That area covers some 40,000 in population. ONE active listing!This may not be the case in every neighborhood but if you are seeking a home in an area with few listings, you have to be prepared for multiple offers in excess of full list price. This is a hard pill to swallow for some after several years of a buyer's market.
In general prices are on the upswing but they are still relatively low and many areas have yet to return to pre-crash prices. Lending rates are on the move up as well but still remain very low. there is plenty of opportunity for a great house at a great price with a low payment. The window is closing however, so don't miss out.
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