April 3, 2013
“A year ago, we were happy to get one good offer. And here we have three. It’s consumer confidence. They’re thinking, everyone’s looking for the bottom. I feel people think we’ve hit the bottom. Every offer I’ve received was full price. Two years ago you’d see properties on the market 30 days or more. Last year that changed to 10 days or so. It’s timing. And price. There is a difference when you’re priced under $600,000 versus over $800,000—it’s strong under six, slower over eight. There’s not many houses in Burke over $1 million. Price makes a difference. We’re not seeing vacancies. We’re seeing good turnover, solid contracts. Short sales and foreclosures are minimizing—it’s mainly standard sales. When you’ve got inventory turning over that quickly and you love the business like I do, it makes it exciting.” - Pat Richter, Residential Preferred Properties, Burke
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