Wednesday, August 29, 2012
Dyersburg Real Estate Market Heating Up
I just ran the Dyersburg real estate statistics for January 2012 thru the end of July 2012 verses the same time period last year. Here are the comparisons:
- Home sales in Dyersburg up 3 % over same period one yr ago
- Home sales in Dyer County(excludes Dyersburg) up 24% over same period one yr ago
- Land sales in Dyersburg up 10% over same period one yr ago
- Land sales in Dyer County(excludes Dyersburg) up 12% over same period one yr ago
The average sales price for homes sold is $109,329 for the current period verses $88,127 one year ago.
Here is my take on what is going on. Just in the last 2-3 months home sales have really picked up. I suspect that when I run the numbers after August is behind us we will see even healthier numbers than what we have up above.
About 50% of the house sales currently are foreclosures but that number is dropping.
Home values for the most part have hit bottom and if the demand continues then prices should start easing back up. I got a contract on a home over the weekend that has been listed for about 2 years.
Check back here next week to see the Dyersburg real estate statistics for Jan 2012-Aug 2012 verses one year ago.
New Website For Dyersburg Area Home Searches
Not only can you search by minimum and maximum price range but also by city(any city covered by Dyersburg MLS). You can also search by # of bedrooms, # of bathrooms and/or property type(residential,land, commercial).
After you get into the listing itself you will notice all the pictures available as well as other very useful information.
Here is a link to the new Dyersburg real estate search site. Please notice the different cities you can search under. I asked my webmaster why Dyersburg was misspelled twice and he said that was the way some of the listings were entered by the listing agent. Let me apologize for that but I have no control over those agents and those homes will not be picked up under the search for Dyersburg.
Wednesday, August 22, 2012
Dyersburg Real Estate Transfers May Not Be Affected By New 3.8% Tax
Here is an excerp from the magazine smart Money:
The new tax, which Congress passed in 2010, affects the net investment income of most joint filers with adjusted gross income of more than $250,000 ($200,000 for single filers). Starting on Jan. 1, 2013, the tax rates on long-term capital gains and dividends for these earners will jump from their current historic low of 15% to 18.8%, assuming Congress extends the current law.
Many Dyersburg people have been asking me if they will have to pay this special 3.8% tax when they sell their home. The answer is maybe. If the husband and wife's combined annual income exceeds $250,000 and they sell a home with a long term capital gain then yes they will pay the tax.
Here is a link to the entire article.
This tax was added at the last minute by democrats who rammed this bill through congress. Personally I believe this is bad for America and just another act of class warfare.
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