Is there no good news anywhere?

By
Real Estate Agent with RE/MAX Shoreline New Hampshire & Maine

Inman news headlines today:

"California home sales drop 28% in August"

"Resale single-family median home prices fell in 11 of 20 regions in California while sales dropped 27.8 percent in August compared to the same month last year, the California Association of Realtors trade group reported this week."

 "Home purchases decline last week

"Applications for home-purchase loans dropped significantly last week as long-term interest rates climbed higher, the Mortgage Bankers Association reported today."

Do you think someone interested in maybe buying a house would see this as a bad sign? ;-)

Granted times are tough in some areas. Fortunately they are certainly not tough in all areas.

For instance, in my town of Knoxville, Tennessee our resale single-family median home price actually rose 6.6% in August 2007 compared to the same month last year.

In fact our median prices have risen every year since 1999; here's the breakdown:

2nd Quarter 1999

$100,000

2nd Quarter 2000

$105,000

2nd Quarter 2001

$109,900

2nd Quarter 2002

$112,900

2nd Quarter 2003

$119,900

2nd Quarter 2004

$124,900

2nd Quarter 2005

$139,900

2nd Quarter 2006

$149,900

2nd Quarter 2007

$159,900

 

 

 

 

 

 

Granted 1 month's worth, or one quarter's worth of limited statistics don't tell much of any sort of story or predict any sort of trend but the point I'm making is that not all is bad news and I'll bet there are lots of other areas of the country with good news as well.

I guess this is just further proof of the newspaper adage: "If it bleeds, it leads."

Sad commentary on our times when bad news takes precedence over good.

Posted by

Jim Lee , REALTOR®, Certified Residential Specialist (CRS)

http://JimLee.com  RE/MAX Shoreline

100 Market St., Suite #200, , Portsmouth, NH 03801 Phone: (603) 431-1111 x3801

Visit New Hampshire Maine Real Estate.com to search homes, get Seacoast area information, and find out how great living on the New Hampshire and southern Maine Seacoast really is.

 

Follow RealtorJimLee on Twitter

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Tennessee Knox County Knoxville Lovell Road, Campbell Station
Tags:
knoxville tn
sales good
sales bad

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
508,620
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

this is the exact reason why buyer and sellers need experienced and knowlegable agents as yourself to show them that real estate is LOCAL! Glad to see your area is maintaining appreciation. We are seeing a stable environment here as well.

 

Sep 26, 2007 06:13 AM #1
Rainer
71,885
Larry Wright
nwRealty.Com - Tacoma, WA
Jim ... watching our news lately I developed the exact opposite opinion ... things aren't as rosey as the local broadcasts.
Sep 26, 2007 06:25 AM #2
Rainmaker
600,281
Jim Lee
RE/MAX Shoreline - Portsmouth, NH
Portsmouth NH Realtor, Portsmouth, NH

Granted Larry, in some areas. However things are actually humming along pretty well in other areas.

The news seems to paint all of the real estate industry with the same broad brush.

And Michele, you are spot on; real estate is local, always has been, always will be. What's happening in southern California usually has no relationship to what's going on in South Carolina, Oregon, or Texas.

Sep 26, 2007 07:25 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
600,281

Jim Lee

Portsmouth NH Realtor, Portsmouth, NH
How can I help?
*
*
*
*
Spam prevention

Additional Information