Should I buy a house now? Should I put my house on the market? What is the market going to do? These are all very valid questions, especially with the state of our economy. Good news for the Dothan market--we are doing much better than most areas in the country. I wanted you to tell you all about the market in Dothan.
As of today, March 16, 2009 there was 1,067 properties on the market. This is a summary of all properties single, multi, mobile, land, and commercial. From January 1-March 16 there were 199 properties that sold. The following is a breakdown of pending and solds in various price ranges:
Price Active Pending Sold
up to 100,000 715 68 87
101,000-200,000 619 83 73
201,000-300,000 266 18 31
301,000 and up 351 12 8
As you can see the lower numbers are selling pretty steady right now. Will the market pick up? No one really knows, but eventually it will. In some parts of the country, that's the only way it can go. We are so fortunate in our area that our homes are holding their value pretty well.
I tell all my clients, don't think you are going to get a steal of a deal in Dothan because you won't. Thankfully we are holding our own and doing very well compared most parts of the country. Rates are around 5% and fluctuate a little about and a little below which are great rates any way you look at it. These rates for a home are unheard of in the past few years and we hear rumors of them going even lower. Mortgage companies are becoming competitive so I would recommend shopping around.
Don't forget the $8000 tax credit for first time home buyers! It's a great time to buy a home. Keep your credit score looking good and don't make any huge purchases, it all shows up on your credit report.
Call me and I will assist you through this amazing process.
334-333-1609 or michelle@c21keyrealty.com
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