Closings Slightly Ahead of 2009
Kathy Riggs August 29th, 2010
If you turned on the tube or picked up a newspaper in the last week I don’t have to tell you the news – housing sales dropped by 27 percent in July! REALTORS everywhere have been stopped in grocery stores, malls and wherever to face the questions “How’s the real estate market”? Are you selling anything?
Well, the statistics are a national compilation. A drop is certainly expected after the tax credit carrot that dangled in front of buyers for more than 12 month was pulled away. Do you expect the traffic at your local mall to increase the day after the year’s biggest sale? Of course not.
While some time must past for the housing market to even out, focusing on a the positive can certainly outweigh the negative. I prefer to compare sales to the same time period from the previous year. It’s true sales have dropped in past years, but we are on the upswing. Closings reported by the Kinston/Lenoir County Regional Board of Realtors MLS indicate sales are up about eight percent over 2009. Historically low interest rates, the amount of inventory and motivated sellers combine to make this a great time to buy a house. And regardless of national trends some markets may be on the upswing. Cities and communities that never experienced the housing bubble are not experiencing the same rate of deflated home values.
So, if you are a future buyer or seller, your first call should be to a local REALTOR. Ask questions about local market trends and what, if anything is consistent with the national news.
Now as always, your home will probably be your best long-term investment.
On the Lighter Side…
A real estate salesman had just closed his first deal, only to discover that the piece of land he had sold was completely under water.
“That customer’s going to come back here pretty mad,” he said to his boss. “Should I give him his money back?”
“Money back?” roared the boss. “What kind of salesman are you? Get out there and sell him a houseboat.”
Shameless Plug
If you are looking a building lot in Banks School district, I have one in Erwin Hills. Ideal for stick-built or true modulars. Call me at 252-939-2432 or email kriggs@kathyriggs.com
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