Current Observations For Residential Real Estate For Rockport, TX:
The year over year difference continues to narrow. The reason being that the last quarter of 2008
saw a significant falling off from earlier in the year. The market seems to have stabilized some,
unfortunately, at a pace well below the 2005-2008 performance. The good news is that the
decline seems to have reversed and there is activity.
Several observations to consider are: sales over $500,000 are slow, months of inventory is high,
inventories of vacant lots are excessive, and prices are being adjusted downward from
expectations, especially in the upper end.
To see the complete report, go to our website at www.rockporttexasrealestate.com
Appraisal rules are changing and affecting some sales. Interest rates remain historically low but
credit scores and underwriting issues are making it more difficult all the time.
There are still qualified buyers and homes properly presented to the market are moving.
Properly presented includes: condition, price, and marketing.