The Couts Team - Superior Real Estate Service in Robertson County

ROBERTSON COUNTY REAL ESTATE STILL SLOW

The number of homes sold in Robertson County in 2009 was down 11% below 2008 and off 42% from 2007 indicating the decline which began in September ’07 in Robertson County is continuing. That sales level matches sales levels in 1990!! The median price of homes sold in 2009 in Robertson County was $139,900, down 2% from 2008 median price of $142,000 continuing the decline which also began in September ’07 in Robertson County. During the last 4 months of 2007 the supply of homes for sale hit 9 months inventory vs. the 6 months inventory considered normal for supply and demand to be in balance and that level hit 14 months supply by end of 2008 and now 12 months supply at end of 2009. In our county, the supply of single-family homes continues to be the highest it has been since 1988. A rising number of foreclosures is still adding supply to the market. Some forecasters warn that home sales and prices are unlikely to start rising in most of the country before 2011.

*add another 30 days for the buyer to secure financing and close the deal.

For 2009 the number of residential building permits issued in Robertson County for new homes was 170, down 35% from the 260 new starts in 2008 and down 70% from the 566 in 2007. New homes being built in Robertson County now are nearly all custom built jobs for a client. Several of the spec homes built in our county are being foreclosed on when they don’t sell in a year or more. Average number of homes sold in Robertson County in 2007 was 93/month, in 2008, 61/month and in 2009, 54/month.

ITEMS OF INTEREST

	Robertson County Association of Realtors have a lot of members from places other than Robertson County because our membership fees are so much lower. However we had 150 Realtors who didn’t renew their membership for 2010.
	Understand Mr. Crain trying to get a building permit to build an auto repair shop on Wilks Road near Travis Price Park. Some residents are objecting.
	That rumor I told about in October issue of my newsletter seems to be true about El Molcajete building new restaurant behind Hardees. All approved and “breaking ground”.
	The foreclosure notices you see in Times each week by banks or mortgage companies have not slowed down and not expected to do so before 2011. And the sale of those homes is having a huge negative affect on the prices and sale of non-foreclosure homes.
	Home buyers stimulus payments from Government have been extended to April 30, 2010. $8,000 to 1st time homeowner and $6,500 to existing homeowners who buy another home. Call me for details.
	The alternative school in building behind Commerce Union Bank on 7th Avenue now looking to build new building on land in Industrial Park.
	Several farms for sale: 133 Acre Wilks farm by Travis Price Park $975,000; 140 Acre Jones Farm on Baggett Road now owned by Bobbie Jean Carrozza $650,000; 190 Acre Drake farm on Drake Road $1,100,000; 308 Acre Wellington Greer farm now owned by John Johnston $3,500,000; 218 Acre Murphy farm now owned by Wayne Day $1,300,000. Some of these have houses on them.
	New business going in existing building across from Payne Bros. where liquor store used to be “Gold Diggers, Etc.” buying and selling gold.

For additional information about Springfield and Robertson County please visit the ROBERTSON COUNTY CHAMBER OF COMMERCE website.