2014 has been good for residents of Sterling on the Lake. Coming up on midyear, we have seen a major drop in foreclosures and short sales in the neighborhood. This has contributed to home values returning to higher levels. Good news for everyone! The average list price for resales that are currently under contract is almost $372,000. To date in 2014, we have had 11 resales close and have 5 more “pending” home sales. The new homes have had a good run also, closing 12 already this year. Which is similar to the pace of 2013. As I stated earlier, the rate of foreclosures and short sales is minimal in 2014, which means we have a lot of people moving in/out because they want to. This has been critical to the return of home values in Sterling. In the last 60 days activity has been robust and we expect that to continue through the summer. With interest rates in the 3.75% – 4.25% range, buyers continue to capitalize on low interest rates. If you are considering selling your home, please contact us.