Richfield Homes for Sale

As real estate around the United States gets cheaper and cheaper everyday, Richfield homes for sale are following this trend. According to Northstar Regional MLS statistics new listings in Richfield are up 20.3% since last year. The average sale price in Richfield is down 11.8% from about $222,000, to about $195,000.  A lot of these houses are close to the Academy of Holy Angels High School, which is a popular school among parents in Richfield, www.academyofholyangels.org. Most sellers are getting about 91% of the original list price at closing. That is down about 4.3% from last year. Some people would see these number and say, “this is really bad.” Yeah, but it depends on how you look at it. Right now there is a huge supply and demand imbalance in the market. There are just too many houses, they need to lower prices to get them off the market. That is how markets work. I know many people in the government believe they can control the market, but that just can’t happen. One of the main reasons we have this situation right now is because of the monetary policy in the United States after 9/11. We lower interested rates for so long, and made it too easy to get money. Everybody went out and borrowed money. The government was trying to control and influence the market. As a result, too much cheap money went to too many bad borrowers and has now put us in this current situation. The only way out is to let the people who want to make things happen do their work. There are a lot of good houses for sale in Richfield right now. I probably looked at over 40 houses in Richfield in the last three weeks. It is a good time to buy.