Monday, July 21, 2008
Dyersburg real estate market continues to recover
I just wanted to tell my readers that my agents and I continue to show properties and write contracts. There are still many people moving into the area for jobs and some of these have recently sold their homes so they are able to purchase.
We are also seeing a lot more investors moving in to purchase the foreclosures the mortgage companies are offering at below value. I would say that 95% of all the foreclosures were financed by out of town banks and mortgage companies and these companies are taking a real beating. Most are choosing to dump the properties at below market values.
In my opinion, we will not see a real strong recovery in our market until the presidential election has passed. Until then, we will continue to find good deals for our buyers and attempt to list properties at their "current value".
We are also seeing a lot more investors moving in to purchase the foreclosures the mortgage companies are offering at below value. I would say that 95% of all the foreclosures were financed by out of town banks and mortgage companies and these companies are taking a real beating. Most are choosing to dump the properties at below market values.
In my opinion, we will not see a real strong recovery in our market until the presidential election has passed. Until then, we will continue to find good deals for our buyers and attempt to list properties at their "current value".
Labels: Dyersburg update
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