PLACERVILLE, CALIFORNIA

Real Estate

Housing mini-boom over for this summer

By From page HS3 | September 06, 2013

When I walked into the kitchen and spotted business cards from the two agents who had already showed the home, I had an “aha” moment. There were only two cards. Six months ago there would have been a dozen or more. This was a bank REO, priced less than $300,000 and in pretty good condition. It has been listed for a week and only two agents had shown the house? Upon returning to the office and checking the status of the listing with the listing agent, I was further taken back to learn there were no offers on this property and the lender, who owned the property, was considering a price reduction. It was a clear sign that the real estate market was transitioning.

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Ken Calhoon

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