As several of us wonder what is going to happen the way this economy is, I still want to let you know that we have it a lot better than a lot of areas in the country where collateral has been overvalued, resulting in foreclosures. Right now, our market isn't necessarily good but it isn't bad.. We will call it balanced. We can say this in Calhoun County because there are few foreclosures and values are in line. We did not have false appreciation created by irresponsible lenders and developers. We have had sustainable appreciation between 1%-9% in the past 17 years. We also do not have the same issues that started the problems in California, Florida and other high profile markets. However, even though our market is in balance we will still have to weather the credit issues like everyone else. Our local banks are always making intelligent loans to deserving people.
As a side note, people are still buying and selling houses in our area. ERA King finished September at 86 sold units which brings us to 752 for the year!!!
What do you feel about the market?
Tuesday, October 14, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment