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Housing Market Is Bouncing Back In A Big Way

By Michelle Durham

PHILADELPHIA (CBS) -- Local realtors are actually placing classified ads to attract prospective sellers.

The once struggling market has rebounded to the point where homes are selling so fast.

There is precious little left to show prospective buyers.

This is a universal issue in the Delaware Valley.

Prudential Fox and Roach Realtor Mike McCann specializes in selling properties in Philadelphia explains why realtors are putting on the full court press.

"We are pushing like crazy to have sellers realize, hey if you couldn't sell it in the last couple of years, you need sell it now. Or if you plan to sell it in the next couple of years you should sell it now because there is a great demand for homes on the market,"  Mike McCann said.

On the other side of the bridge, Janet Rossini with Coldwell Banker Preferred in Haddonfield wholeheartedly agrees.

Rossini said it's the perfect storm, "good properties are going really quickly and if they are priced correctly in this market they sell. So it's a great time to sell. At the same time, interest rates for buyers have gone up a little bit but they are still historically low, so it's a great time to buy."

Both say most buyers would prefer a home that is in move-in condition, but there are some willing to fix up a property.

A non cluttered home that is priced correctly.

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