Sellers of homes in the $70,000 to $140,000 price range are selling very quickly, said Eddie Stockton, manager of sales at Coldwell Banker and owner of Real Estate Education Inc.
"It's a race to the home," he
Not all price ranges are selling as quickly, but they still are selling faster than the same time last year, Stockton
...Many are crediting the foreclosures jump to the interest rate increase, causing some to fall behind on their mortgages, an excuse that Eddie Stockton, manager of sales at Coldwell Banker and owner of Real Estate Education Inc., isn't buying.
"People are used to these rates being at 5.5 and 6 percent and they need to understand that was a gift to get a 4.75 percent loan for three years," said Stockton
didn't anticipate an increase in the foreclosure activity anytime in the future.