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Real Estate Corner

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By JOY KINGSBURY/for The Herald  —  There is a cooling in the housing industry. Although some listing prices are being reduced, the interest rates for loans to purchase these homes continue to rise, which will increase monthly loan payments required to accommodate rising interest rates. In our local community there are more listings, and that works to create a better selection for those buyers who can afford to purchase.

Unfortunately, the more housing costs to purchase, the more stress on rental housing, which prices continue to escalate, and, in our area, are becoming difficult to find. There is a housing shortage in this area with no solution on the horizon. The housing going forward will be occupied by owner/builders.

On the bright side, those who own homes will see the value in upgrades and maintenance projects, which will require building materials, tools and labor, so those markets will remain in demand and our neighborhoods may be in for an uptick in livability and curb appeal.

Joy Kingsbury is an Oakridge resident and regular contributor to The Herald. Joy Kingsbury photo

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