Friday, January 07, 2011

 

Dyersburg Real Estate Market Improving But Still Some Problems

For the last 3-4 months the Dyersburg Real Estate market has been showing signs of improvement. However, there are still two problems plaguing the Dyersburg real estate market. Actually there are three but the foreclosures appear to be on the decline so I am not counting those.

1. Our biggest problem is finding comparable sales to support the increasing number of regular or normal(non foreclosures) house sales. It is one thing to write a contract and both buyer and seller agree to the terms but it is another thing just trying to find normal comparable sales within the last 3-6 months. The appraisers have to have 3 sold comparables and 3 listed comparables. This problem will probable last for at least the next year as house prices creep back up.

2. Our second biggest problem is buyers who still think the real estate market is not turning and they can still "steal" properties. Folks, we have bounced off the bottom and the real estate market in Dyersburg is going back up.

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