Home prices in the IE are definitely moving up!

Good news regarding my neighbor’s house that was listed last month for sale.  It sold and closed escrow for full asking price and DOM was exactly 30 days.  This will be a great comp for the neighborhood and anyone wanting to refinance.  I closed on my home in September of 2011 and I feel great that my house is now worth at least what I paid for it.  I mean that, if I were to sell it today I believe that I could get 100% of my investment back after taking out all marketing costs.  Until my neighbor’s home sold and closed it was just speculation that the value of my house had gone up during my one year of ownership.  We can read all we want regarding home values moving up but nothing makes you feel better than having a home in your neighborhood go into escrow at full price and close within 30 days, that’s PROOF!!