Monday, December 22, 2008

Has Housing Crunch Hit Springfield?

How much is your home worth in today's market? Probably not as much as you think. Eight homes have sold in Springfield since the beginning of the year, with the average sales price $362,400. In 2007, seven homes sold with the average sales price $360,600. As a whole, the statistics say values are up slightly. That's the good news. However, if you breakdown 2008, the picture is not as rosey. The last three home sales in Springfield are, in order: $320,000, $385,000 and $295,000 (pictured - 4955 Springfield Dr. which closed last month).
The Atlanta housing market will probably not see an upward tick until late 2009 at the earliest. With that said, it is an amazing time to move into a larger home or for first-time homebuyers, as interest rates for a 30-year fixed mortgage are below five percent. Now may be the perfect time to refinance. If you need a qualified mortgage professional, please give me a call.
The glass is always half full!

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