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Buyers Advised to Purchase Properties in Real Estate Broker Listings

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By : John Cutts    99 or more times read
The year 2011 will be a good time to purchase residential and commercial properties in real estate broker listings and those available through other channels, according to Pennsylvania real estate agents. They claimed that certain areas in the state are showing stronger housing markets and the year will be a positive one for the whole real estate industry, with sales activities rising in the area since the last two months of 2010.

In the counties of Union, Snyder, Northumberland and Montour, sales of homes recorded a total of 1,037 in 2010 which is 38 more than the total number of sales posted in 2009. Realtors have reported that during the months of November and December, when housing sales usually dip, local agencies have experienced higher levels of activities, with buyers keen to take advantage of the low prices of properties in the areas.

Realtors stated that homebuyers in these counties seemed to have more confidence on where the economy is going. They were also encouraged by the fact that despite increasing sales, prices of dwellings and commercial structures under real estate broker listings remain low, while interest rates also maintained their low levels. Real property agents stated that the current structure of the home market heavily favors buyers and those planning to purchase will not get a better deal than what they can get right now.

For the January-November 2010 period, local housing reports showed that foreclosed property sales in the upper area of Northumberland County accounted for 13.6% of total housing sales. In the western part of Northumberland, 19.7% of housing sales were accounted for by foreclosures in the same period, while the eastern part recorded a 10.8% share for foreclosed properties. In Snyder County, 8.7% of total sales for the same period were accounted for by foreclosed properties.

Meanwhile, the lowest percentage of foreclosure sales were recorded in Union County and Montour County for January-November 2010, with the former posting a foreclosure sale percentage of 8.4, while the latter was pegged at 4.8%. Local agents have stated that housing figures are often dependent on job availability, with counties that have stable job markets having higher number of people purchasing houses and commercial properties under real estate broker listings.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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