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 American Publishing [ Tennessee ] [ Georgia ] [ Alabama ] [ North Carolina ] [ Home Page ] |
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Real Estate News
Home sales in the south were up 9% from August and 10.8% from September 2008. Nationwide, home sales are at the highest level in two years, getting a boost from first time homebuyers (Note: The definition of a 'first time home buyer' is now, "Someone that has not owned a home in three years") and sale of foreclosures. First time homebuyers accounted for 45% of home sales in the past year. The median price home has dropped 7.6% to $153,000 in the south. This drop has been caused by the influx of foreclosures, short sales and distressed property sales, (29% of sales). The $8,000 tax credit has helped first time home buyers take advantage of affordable market conditions. As consumer confidence improves, experienced real estate buyers will move into the market and take advantage of low prices, reducing the available inventory and strengthening prices. See attached home inventory. The national average for 30 year mortgage money is 5.15% for 30 year, and 4.71% for 15 year. US Dept of Agriculture reports that farm land values have declined across the southeast, with Florida farm land values down the most, (see below) Jan 2009 farm land Values Average/acre // per cent change from Jan 2008 Alabama $2150 // -6.5% Florida $5150 // -8.7% Georgia $4000 // -7% Kentucky $2850 //na North Carolina $4250 // -4.5% South Carolina $2900 // -1.7% Tennessee $3300 // -4.3% Click here to view bank foreclosures: www.ampub.com/fsg Click here to view Savage Bluffs, 600 acre gated community atop the Cumberland Plateau: www.ampub.com/savage For affordable web hosting click here: www.coastlandtech.com Visit www.farmsandtimber.com LARRY KUKA American Publishing dba MOUNTAIN, LAKEFRONT & RURAL PROPERTY GUIDE PO Box 770 Charleston, TN 37310 off 423-462-2700 mobile 423-596-4911 fax 423-462-2800 mlrpg@ampub.com www.ampub.com Prov. 3:5,6 Serving the rural real estate market since 1992 Larry Kuka Publisher of "Mountain, Lakefront & Rural Property Guide" visit us online at www.ampub.com or www.farmsandtimber.com. |
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American Publishing: P.O. Box 770 Charleston, TN 37310 ph 423-462-2700 fax 423-462-2800
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