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RGV’s residential market hits average $150/sq. ft.?

If you haven’t been keeping up with the residential real estate market, but you have to make a move soon, you’re in for a big surprise. Not all of it good unless you’re going to downsize and pay cash. Or borrow against CDs, which will get you a 2-percent fixed rate vs. the 7-plus percent rate (30-year fixed) now being offered for a mortgage.On one hand, there is a market squeeze underway. For the first time in 59 weeks, the number of homes for sale nationwide fell below year-ago levels. (Source: CNBC.)In Hidalgo County (the McAllen-Edinburg- Mission MSA), home prices ...

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