Augusta, GA (Columbia) Housing Market (Atlanta, Evans: foreclosures, get credit, home builders)

[Looking For a Home]

Disgusta,

This may be true on homes purchased in 05/06, I have seen many examples. However, homes purchased prior to that time have some equity. The real question is how equity can be realized in this market?

[PJA]

Originally Posted by DisgustaSucks

saying something is "worth" 260K and what it actually "sells" for are two different things. You can research the home sales in the Augusta market.. and no where... especially the Southside... will you see appreciation in double digits... there may be some rare freak ocurrence.. and maybe that just happened to be your parents case. as "looking for a home" mentioned.. home prices are declining... and that's after very little if no appreciation at all in many years.

Again you are wrong..in that same neighborhood houses are actually selling for much more than they were originally purchased for. Again it depends on the location.

[PJA]

Originally Posted by Looking For a Home

More Columbia County houses are being relisted today at $10K below the initial offering price!

Once the big price declines start, it will be hard to hold back the rest of the market!

That's happening around the country. The market is correcting itself as the prices of new houses jumped up significantly a few years ago due to Hurricane Katrina and other factors. A lot of those houses were overpriced to begin with.

[Looking For a Home]

Originally Posted by PJA

That's happening around the country. The market is correcting itself as the prices of new houses jumped up significantly a few years ago due to Hurricane Katrina and other factors. A lot of those houses were overpriced to begin with.

Yes, I understand, but the Columbia County market was somewhat immune to this general decline until now. There are just too many negative factors weighing on this market. We are just starting to see a real decline in the market. Between the credit crunch and home apprasial problems (and the numberous other market problems), this only going to become worse in the coming months. The question is will the decline be 5-10% range or 20-30%?

[DisgustaTruth]

I would say on the upperend.. because I mentioned before the Augusta job market is VERY weak... has always been so.. alot of the growth in Columbia County was from people moving out of Augusta.. so its really been a zero sum gain all along.. now things are finally panning out. I do not see the job market in the Augusta area improving significantly... in fact things may get worse.. that will only exacerbate the realestate crisis..

[Frankie117]

Originally Posted by DisgustaSucks

I would say on the upperend.. because I mentioned before the Augusta job market is VERY weak...

I agree with that statement 110%

Originally Posted by DisgustaSucks

has always been so.. alot of the growth in Columbia County was from people moving out of Augusta.. so its really been a zero sum gain all along.. now things are finally panning out. I do not see the job market in the Augusta area improving significantly... in fact things may get worse.. that will only exacerbate the realestate crisis..

Yes, and most industries that are in Augusta have had major job cuts over the recent years. Some factories on the South side of town are planning on closing for good. With the recent slowdown in the housing market, I would not suggest moving to Augusta unless you are a retiree.

[DisgustaTruth]

And if you are a retiree... make sure you don't have a nose.. because the air stinks like rotten eggs and the pollution from the factories makes it unbearable for anyone with allergies.. it will even make your eyes sting.... yeah it's a great place for retirees.

[Frankie117]

Originally Posted by DisgustaSucks

And if you are a retiree... make sure you don't have a nose.. because the air stinks like rotten eggs and the pollution from the factories makes it unbearable for anyone with allergies.. it will even make your eyes sting.... yeah it's a great place for retirees.

Yep, gotta love paper mills

[Looking For a Home]

More bad news for the housing market.

Lenders are making it more difficult for buyers. If you have a weak credit history, you can forget it! Even with a good credit history, lenders and looking hard at house appraisals.

Bottom line: house prices will continue to decline and debt ratios.

[Looking For a Home]

Has anyone purchased a home in Columbia County in the month of November?