69
      Thursday
      84 / 63
      Friday
      84 / 65
      Saturday
      86 / 67

      Housing market heating up

      Realtors and bankers agree the housing market is hot.

      For those on the fence about selling or buying, now is the time.

      It could be a sign that the economy is improving.

      Interest rates are low and are expected to stay that way.

      Realtors and bankers agree the housing market is hot.

      For those on the fence about selling or buying, now is the time.

      ??Prices are still good. Financing is still probably the best in any of our lifetimes,?? said Doug Meteyer from Keller Williams Realty.

      With interest rates around 4% and the economy showing signs of improvement people seem more optimistic about the future of the housing market.

      According to a survey from Fannie Mae 40% of Americans said it's a good time to sell a home in May 2013. That??s up from 30% in April 2013 and 16% this time last year.

      ??The 100,000 to 275,000 [dollar] range are selling a lot quicker than the higher end homes,?? said Debbie Highway from the Bank of Northern Michigan.

      Realtors say staying local can speed up the buying and selling process.

      ??The local bankers have local resources for the appraisals and all these kinds of things that happen in a much more timely, much more efficient manner than a lender working outside their market,?? said Meteyer.

      Homes are staying on the market less than 60 days in most cases, which means sellers are getting closer to their asking price in this current market upswing.

      ??If somebody comes in with a low offer thinking that they're going to get it for a lot less, chances are they're going to lose out to that buyer, that savvy buyer, who comes in closer to this price or above,?? said Meteyer.