Mar 21, 2013
Sales of low-priced(1) homes here continue to feed(2) a housing market that has buyers eager(3), sellers satisfied and some real estate agents scrambling(4) to keep up the pace."Put an entry-level home on the market and - wham! It’s gone in no time," said a broker in Wenatchee. "They go almost as fast as we can list them. Sure, we’d like to see prices rising and more sales of higher-end(5) homes, but these low-end sales can be a good thing— sell a lot of entry-level homes now and, down the road, you’ll likely have a lot of second-home buyers."
Looser credit and some of the lowest interest rates in recent history(6), this week at 3.875 percent, have juiced(7) sales and spurred activity across the market, regardless(8) of price. "We’re seeing more interest, more showings in the $400,000 range than we’ve seen in years.“ It’s welcome activity. "Buyers are also wiser in their preparations to buy a home," said Paine, another broker. "They come to the table with cleaner credit, higher incomes and better documentation —They’ve got their ducks in a row and are ready to purchase."
1. 'Low-priced homes' is the opposite of 'high-priced homes'. 'Low' and 'High' can be added to other nouns as well.
a. Low-priced land is selling quickly in our area.
b. High-priced furniture is finally on sale.
2. 'To feed a housing market'. When it comes to markets, we say that they are 'fed' by sales or demand. 'To feed' is used figuratively in many situations.
a. What you say will only feed the fire of his anger.
b. Play feeds the imagination of children and adults.
3. 'Eager' is the same as 'keen' or 'very willing to'.
a. They're eager to find jobs and a home in their new town.
b. I'm eager to meet my new boss.
4. 'To scramble' means several things. We scramble eggs (beat them and add milk). It can also mean to hurry, or to run with both hands and feet on the ground, usually up hill, in an uncontrolled fashion.
a. The cat scrambled up the tree to get away from the dog.
b. I was late! I scrambled to get all of my things, and then I ran to catch the bus.
5. 'Higher-end' is similar to 'high-cost'. It is usually to describe property.
a. The higher-end houses are around the golf course.
b. The company party is always at a higher-end restaurant (high-end).
6. 'In recent history' the word 'recent' can be put in front of other nouns, such as 'years', 'months', 'governments' etc.
a. In recent weeks, demonstrations have increased.
b. In recent years, there has been less rainfall.
7. 'Interest rates have juiced sales' the word 'juiced' here is American terminology. It is the same as saying 'encouraged' or 'fed'.
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