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Is The Sky Really Falling? Not in the Community of Big Canoe!
By peter_vallone | June 8, 2008
If you believe the mostly negative media reports, you might feel a bit like “Chicken Little” if you’re considering buying real estate now, including in Big Canoe, GA. However, if you carefully examine the data below, you’ll see that right now is actually an ideal time to buy, particularly a resale home.
- While the real estate market in general experienced a slow down regionally, it’s not as bad as the media says it is
- Since 1981, household income has incresaed an average of 3.6% per year
- During the same time period, U.S. home prices have increased by an average of 4.6% per year
- The current average foreclosure rate nationally is less than 1% and it’s marginal in Big Canoe
- Mortgage loans are available at 35-year low interest rates, and they are likely to begin rising again soon
- Rising inventory of homes has resulted in decreases in home and lot prices
- Affordability is, and always will be, the primary real estate issue
- Regional pockets are experiencing more positive real estate sales increases
Seize the opportunities available in today’s buyer’s market. You don’t want to delay living your dream of owning an idyllic mountain retreat or primary home in Big Canoe or the North Georgia mountains. Why? Because when interest rates and housing prices rise, which is likely to occur in 2009, you may then say: “I should have bought last year!”
We would love to help you realize your real estate dreams, in Big Canoe or elsewhrere. Please call Peter or Margo Vallone, 706-268-6426, and visitr our website at http://www.mountainhomeresales.com.
Topics: Big Canoe Homes for Sale, Big Canoe Real Estate, Mountain Homes, North Geogia Real Estate |
June 9th, 2008 at 5:59 pm
Hi Peter & Margo,
Great blog! I like you bullet points - very good stats. There are a lot of great deals in Big Canoe right now, and I agree with you that eventually the market will change to a Sellers market and people will talk about how they wish they had bought back in 2008!