5 Myths about Clarksville’s Real Estate Market
1. The housing market is terrible.
2. Every other house has a “for sale” sign in the yard.
3. Clarksville has a record number of foreclosures.
4. Builders are hurting, so a new home can be purchased well under cost.
5. Sellers will do anything to unload their home.
I get so tired of all the media with their gloom and doom stories. I truly believe they sensationalize to try and out do the competition. Yes, the financial market has problems and in most regions of the US you will find areas that have a large amount of foreclosures. Real Estate is and always will be a local business though, granted the internet has changed the way we do business and greatly enhanced the quality of service real estate agents can offer their clients. All factors (lending practices, unemployment, income, etc.) are not the same in every city of our country.
I found an article from the Nashville Tennessean dated 2-5-05 that stated (source www.foreclosures.com) area code 37042 had experienced 326 foreclosures in the past year. I checked www.foreclosures.com today and all area codes in the Clarksville/Montgomery County area collectively have 106 homes in foreclosure.
September 1, 2007 Clarksville had 1614 single family homes on the market, compared to 1803 as of September 1, 2008. September of 2007 homes were selling for 98.71% of list price with an average of 63 days on the market, compared to September 2008 with homes selling for 97.71% of list price and an average of 93 days on the market. One more fact, the average home in September of 2007 closed at $149,060.00 and in September of 2008 the average closed price was $$155,665.00 (source MTMLS).
I realize I have inundated you with figures, but the comparison clearly shows the Clarksville Tennessee Real Estate market is very healthy. I encourage you to visit www.thevaughnteam.com to learn more about the Clarksville, TN/Fort Campbell area or to view all the homes currently on the market.
