Columnist: Housing market is looking up
Published 12:00 am Sunday, June 19, 2016
The housing market in Troup County is getting much better.
In the first five months of last year there were 267 sales for all of Troup County in our Multiple Listing System. Year to date for 2016 shows there have been 315 sales, which is 48 more sales, and the higher priced homes are getting more sales also.
The other really great news is that bank owned homes are now less than 10 percent of the market, not the 40 percent-plus of five years ago. Property values are on their way back up at about $1,000 per month.
Unfortunately, the average three-bedroom home lost over $50,000 in value before they started back up.
More good news: I went to the Chamber meeting yesterday and they say Troup County will gain over 10,000 people in the next 14 years. This will mean more new houses, which means more new jobs for everyone.
Yes, we have our problems, but this is still a good place to raise a family and enjoy life.
If you have a house that you’re thinking of selling now is a great time to sell. If you want to buy, interest rates are at a 40-year low, so now is the time to move forward.
Whatever you do, use a local loan officer. I had a customer last month demand to use his Internet banker and he lost over $1,850 because at the last minute his Internet banker dropped the ball, and seller said, “I want earnest money,” plus he had paid for appraisal and home inspection.
The old adage: “If it sounds too good to be true, guess what? It is.”
Yes, these are the good old days.