Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Always great news when housing starts picking back up. I've seen quite a few more houses being built as well recently which always puts a smile to my face.
From what I have seen the homes listed below 500,000 are selling, mostly low 400s and under. Those higher than 500 are still languishing on the market and most homeowners are forced to either drastically reduce the price or take it off the market. The only new home development are homes in the 150-300 range. If you look at some Lake areas where the lower priced homes are being built the "older" homeowners with the higher priced homes are putting their properties up for sale. Treetops for instance has a new lower priced home builder developing the community and EVERY older home is for sale by owner. It is actually amazing to drive through that community and see the for sale signs.
Home sales are up because the Federal Reserve has been buying mortgages to the tune of $40+B/month and held interest rates at unsustainable low levels. It's causing the Feds balance sheet to explode and Congress is starting to get concerned. In other words, the banksters are are doing their best to create another mortgage bubble and the buyer should beware.
Always great news when housing starts picking back up. I've seen quite a few more houses being built as well recently which always puts a smile to my face.
I think it is great too! Looks like we are in a Seller's Market and the area is a place where people want to live and that is a good thing.
This trend is not LN specific - if you look at the MLS reports, the entire metro is trending up.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
