Market on the Mend?

Posted at 5:57 PM, Feb. 10, 2010

It appears the Lake Wedowee Real Estate may be on the mend. Looking at the recent numbers of Solds and Sale Pendings for January 2010 on ezMLS, I am seeing improvement in the Lake Wedowee market. In the "Sold" column there were 2 lake lots that closed in January 2010. The Sale Pendings are what gives me real hope for a better 2010. Three lake homes went "Sale Pending" in the month of January from an advertised list price of $285,000 to $399,900. Woo Hoo!

This may not sound like a lot to many people reading this but it is a real improvement from January 2009. There was only one lake lot reported closed in January 2009 and there were no Sale Pendings posted during the month for either lake lots or lake houses. 

The bad is not over as prices are continuing to adjust, more foreclosures are coming and we have limited financing options but the good news is people are looking again. Inquiries, website traffic and showings have picked up considerably since before Christmas. Best news of all I worked on a contract today and I am showing lake property tomorrow. Woo Hoo again! 

It is important to remember real estate is local. Local factors determine the supply, demand and prices. My daughter, Kelly and I specialize in 2 areas, Lake Wedowee and Roanoke Alabama real estate. We make it a priority to keep up with the market conditions in both of these locations. It is our goal to give our customers and clients (buyers and sellers) the best information so they can make informed decisions about buying and selling. Please give us a call if you have a question or need help with real estate in the Lake Wedowee or Roanoke, AL market. Office # 256-357-4444 ext 26 or 28 and check out our websites at: www.ILoveLakeWedowee.com and www.RoanokeAlabamaHomes.com