Migrating Seniors

They are gon'na be moving on! Today's Robert Powell Retirement Blog on CBS MarketWatch web site, says small towns and rural areas are going to grow significantly between 2010 and 2020. This increase in rural population will be driven by retiring Baby Boomers. Southern small towns and rural areas will grow, over all, by 26.1 percent, according to Powell. Also, the migration of Baby Boomers to vacation areas will accelerate. Perhaps it is a desire to get to a place that is not moving at such a fast pace, or a little less crowded, that will drive this migration. In any case, I can vouch for Athens, Alabama and Limestone County -- the living is good here! Call me!

News Flash! Looking Up!

The National Association of Realtors has just reported that in July existing home sales across the country increased on a seasonally adjusted annual rate of 5.24 million homes. That's the highest level since August of 2007. And, resales have risen for four consecutive months. The rise across the south in July was 7.1 percent. That's good news!

101 Days Left, Wise Owl

Hey, don't let time get away from you. Be the wise owl and take advantage of the tax credit for new home buyers purchasing a home by November 30th. That's right, only 101 days left, but that is enough time. Go see a mortgage banker to get pre-approved by a mortgage loan officer, and give me a call. WHO is a first time home buyer? Anyone who has not owned a home in three years is classified as a first time home buyer. OK, Wise Owl, it's up to you now!

Green Shoots!

OK, that is a bit over used phrase lately, but it does seem some good things are happening in the economy, and that will lead to a better real estate market for homes across the nation. Green shoots! Gee, even home builder stocks are doing well in the stock market.

Today, the Federal Reserve Board said they were holding interest rates steady. Of course, the ten year treasury note is what mortgage rates tend to follow, and the Fed doesn't influence them quite as much as the shorter term interest rates. But, everything fits together, and that Federal Reserve influence can't help but keep mortgage rates down awhile longer. If you are considering purchasing a home this may be the opportune time.

July Sales in Limestone County

OK! According to North Alabama MLS, in July there were 66 homes sold in Limestone County at an average sales price of $158,000. Thirty-five percent of these sales were FHA/VA. Nationwide "pendings" have increased recently. Perhaps the market is beginning to "look up!" Give me a call!