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 Why am I hearing such bad news about real estate on TV? When you hear the term "National Market", they are generally talking about the market of 7 states. California, Nevada, Arizona and Florida had a market where people were raising prices, investing properties and flipping them. These markets are now correcting themselves. In places like Michigan, Ohio and Indiana the movement of people is out, not into the states. When you look at these 7 states, you realize that there really is NO NATIONAL REAL ESTATE MARKET. There might be trends that correct themselves, but it is not a National problem as the media would like you to think. Foreclosures are up as a result of questionable lending practices. Adjustments had to be made and raised some homeowners monthly payments, another adjustment will be made in March 2008, so more foreclosures might be ahead around the Nation. What does this all mean for buying a home in Clarksville? Then why has there been a decline in the Clarksville market? Potential buyers moving from the other markets that are suffering can not sell their homes; therefore they can not buy a home. Because of the strict changes in the mortgage business, potential buyers are not able qualify for the price of home that they would like to buy. People are listening to the National Media talk about how dire the real estate market is, but it just isn't true for this area. Unfortunately this is causing people to wait on the sidelines and not buy, so the length of time for a home to be on the market goes up. THE WINDOW OF OPPORTUNITY IS OPEN FOR BUYERS IN CLARKSVILLE What does this all really mean? You will see some roller coaster affect in the real estate market in some parts of the country, but remember, the Media will lump us all into one! Because of all the bad hype about real estate, it might take buyers a little while to not be nervous. The media has drilled it into our heads and we have to change our way of thinking. Some of the Sub-Prime Loans will not be around anymore. We should expect high foreclosures rates because of this. We are in a buyer's market. This usually comes after a seller's market and is followed by a balanced market. It's the cycle of real estate. While getting excited about this Buyer's Market, please remember to stay informed. We here at Prudential understand that buyers are nervous and we want to educate them to make the best decision in the current Market. To contact someone who can help you make these decisions, please call us toll free at 1-866-920-6744 or register through our Home Search and we will contact you, even if it's just to ask questions. Remember that Prudential Professionals Realty Cares and we look forward to working with you and your family. The Clarksville, TN real estate market consists of 54,000 single family homes and over 2,000 condos and town homes. Ft. Campbell real estate is affordable to most military ranks and located mostly on the north side of Clarksville. To learn more about Ft. Campbell properties, click here. |
Robert S. Powers, Principal Broker- St. B Office# 224891
Jacquie Walker, Broker Manager- St. B Office# 248695
Joe Spears, Principal Broker- Ft. Campbell Office # 268934
Licensed in Kentucky
Robert S. Powers, Principal Broker #31475
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