Homeowners Finding it Tough to Get a Buyer in Today's Market
By: Import User
Updated: February 6, 2007
Selling your home right now might be a challenging task.
Here is the bottom line for real estate in Washington County: "The sales are down 35%. The price is still on the rise. The market values are still increasing," said Jeff Matthews, Realtor, Coldwell Banker.
Experts said its taking about 90 days to sell a house in this area, compared to 60 last year. In fact, at this time last year, there were 500 homes on the market in Washington County.
Right now, there are 1,200 homes for sale. One of those homes belongs to Tavasha Johnson. Her house has been on the market for nearly 5 months, and she has even reduced the price, but shes still holding out hope.
"Im thinking it will relatively sell soon. If not, well worry about that when the time comes. I mean, you cant rush these things. People buy homes for families and thats something that takes time," said Tavasha Johnson, who is selling her home.
Real Estate experts believe rising interest rates and rising gas prices are taking their toll and its limiting the number of people willing to commute to Washington D.C.
"Now that the cost has increased here in Washington County and with the rising cost of fuel, its not as attractive for folks to make the drive over the mountain, I think," said Matthews.
Matthews said there needs to be more to selling a home than dollars and cents.
"People love to come to Washington County because of the lifestyle. Were laid back and I think were getting to that. I think we need to focus on our lifestyle, not necessarily the house, but the lifestyle we have to offer," said Matthews.
Realtors will be talking with residents, builders, and lending institutions to come up with solutions for housing affordability, state-wide.
Reported by Angela Bohon"
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