Bucking The Real Estate Trend-Waynesville and Maggie Valley Real Estate

Hope in the Real Estate Market … Lower Prices.

While compiling and reviewing residential real estate sales in Haywood County during the period of October 1 through February 23 for the past few years, I prepared a comparison of the ‘homes sold’ by price ranges.

Sales (Closing) Numbers

There were 157 closings for the 2008/09 period (down approximately 55% from 2006/07); 246 closings for the 2007/08 period, and 353 closings for the 2006/07 period.  Lower priced homes, from $10,000 through $199,999,  showed the only increase in the percentage ratios during 2008/09 compared to the previous years, which is no surprise.

Crystal Balls

Watch the news and watch the numbers. There are many ways to interpret the numbers, and a multitude of experts willing to opine about when the ‘bottom’ will be established. We are in uncharted waters in many respects, but there is no denying that there are great opportunities out there now for financing as well as buying a home priced for today’s market.  Sellers, PRICING is key if you need/want to sell your home; please read: U.S. home prices tumble at record pace.

Source: MLS. Data deemed reliable but, not guaranteed.

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This entry was posted on Tuesday, February 24th, 2009 at 6:04 pm and is filed under Haywood County Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Richard Stabile Bergen County Real Estate said at February 25th, 2009 at 5:49 pm

   Susie, It seems, your market has pulled back a bit.
   I think Susie you my find a bottom here because of all the money going into the market. The Stimulus plan includes 95% loans for 1st time buyers. Also the market is getting a lot of money put in it to provide loans for any qualified buyer. Even Jumbo’s are coming back now, my mortgage guy has given us a package to 4m at 6.5% rate with 25% down. There are changes going on. We should feel it soon. I think looking at your numbers; your area did not go up like Florida, So.CAL Las Vegas and Arizona but more moderately like we did in Bergen County New Jersey.

   You probably went up less than 100% in the credit boom. The result is lower volume and declining prices in the less than 25% area. The boom towns have lost over 60% in some cases, but have pick up in volume now at these low prices.

   Look to the middle of March to mid April for some results. I think you will pick up!

2. unsecured loansp said at June 6th, 2009 at 12:58 pm

   Another interesting article from your blog When will it stop….hopefully never

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