Can you believe it? What this market has done for luxury living! In one of Tupelo's golf course communities, there are homes for sale that just aren't moving. Moving quickly that is. Homes from $299,000 to $600,000. Bargains compared to like properties in other parts of the country. It's not that they are viewed as over priced...just that they are viewed as pricey! I believe the difference herein lies between affordability, consumer confidence, and perceived risk. 
Some lots are elevated, and with a view of the golf course and water, they are some of the most enjoyable views real estate has to offer in this area. It's not that nobody wants to live here...just unable.
A couple of years ago, some of these homes would not be on the market but for a short time.Now the opposite is true. When higher priced homes for sale saturate the market, there is just too much competion from would-be move-up buyers trying to sell their moderatly priced homes. With out the desire (or the ability) of the young consumer to enter the real estate market, the domino effect in reverse is realized.
Once the economy begins it's positive treck again, first time buyers will begin showing up with good enough credit, money, and the desire for home ownership. And the the move-up buyers will move up. And then we will progress. Question is: where is the big kick start going to come from? Surely not from another $600 tax rebate that, for the most part will go into my gas tank, and ultimately to the big oil companies in the form of profits. I think we will need something bigger.
Maybe a new president and a new round of tax cuts can do it!
For those who have the means and the desire, you should consider buying now!!! This buying opportunity will not be around very long and it will be years before a similar opportunity presents itself. If you plan on living until you reach, say 300, then ok....WAIT!
This Cub Fan thinks this is the year (or maybe next) it will all turn around! It's going to happen. I Believe!
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