Real estate market on the rebound - WALB.com, South Georgia News, Weather, Sports

Real estate market on the rebound

By  Stephanie Springer  - bio | email

ALBANY, GA (WALB) –It seems things are finally looking up in the housing industry.

According to new numbers this year, fewer homes are on the market and for less time.

Realtor Patsy Martin says there are indications that the housing market is moving in the right direction.

"Our phones are ringing more, you know when people are calling about listings, this is a good sign," said Patsy Martin.

Same goes for builder, Stephen Griffin, who is building more homes this year.

"I definitely see a pickup from this time last year, more phones ringing and more lookers," said Griffin.

New numbers show a slight improvement in the housing market in Dougherty and Lee counties.

"We have currently fewer homes we have on the market in march of 2010 than we did march 2009," said Martin.

In March of 2009, there were 898 homes on the market, this year only 815 homes are on the market.

"I think obviously we were in a recession in 2008 and 2009 so there was a major pent up demand for new homes," said Martin.

Homes are also selling quicker this year.

"I think we see a bit more aggression on the part of the buyer this year," said Martin.

This March, homes are on the market for 108 days compared to 142 days the same time last year.

"If you list your home correctly versus some other markets like Florida, California, Atlanta where you are listing your house expecting to get some ridiculous offer that's not going to happen in Albany Dougherty county and Lee you are going to end up with an offer that is about 95 or 96 percent of your list price," said Martin.

And the 8,000 dollar tax credit has helped home sales, too.

"People realizing that this tax credit will end, they need to be closed by the 30th of June they are going to have to buy in a hurry and get something underway," said Martin.

Realtors say now is the time to list your home and buy a new home, because you may miss some of the best deals out there.

Realtors say the expect to sell a great percentage of homes during this summer and spring when people are relocating before school.

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