In the third quarter of 2009 the Arlington market seemed to slip a bit further, and although the average sales price was up 6% year over year, the price per square foot slipped by another 1% from the previous quarter, and 4.5% from the same period last year. The number of distressed sales has seemeingly been on the rise as well in recent months as well with over 20% of the sales for the area registering as foreclosures or corporated owned homes.
There has been a silver lining forming though, as so far in the first few weeks of the fourth quarter the Arlington market has been spurred by the availablity of 100% financing in this area and the looming experation of the tax credit. This has made many first time home buyers hop off the fence and decide to make a move. Which has actually led to a shortage of homes under the $200,000 mark in the area as they have been being purchased quickly, many times in only a few days.
There seems to be a shift in the housing market lately, and some suburbs of the Memphis Metro area are getting a larger share of that shift than others. The Arlington area is one of those such suburbs, There are plenty of new homes to be found and plenty of great deals to be had from the number of distressed sales. Hopefully this shift will continue into the new year, and we can officially call the housing downturn over.
ZIP Code: 38002 Location Characteristics: When your equity matters in the Arlington area call 490-3542 and let Jaime Osborn help you buy or sell your home. The town of Arlington is a great place to raise a family. The town is growing fast and the people in charge are doing a great job to see that it remains that way with out losing the small town charm. There is still a large rush of families moving out to this area, as the new high school, has allowed those in need of providing their children a good education, the ability to do so at a new location. This market although down from 2007 to 2008 is poised to make a jump this year as the market stabilizes and more buyers come into the market to take advantage of lower prices and great home Mortgage rates.
About Jamie Osborn:
Hello If your equity matters than give me a call at (901) 490-3542 I know the area better than anybody, I should, I've lived here all my life. I graduated from the University of Memphis where I Majored in finance and held a double minor in accounting and marketing. I am able to use this knowledge advantageously everyday because I understand that your home is a large investment and there are many things to look at when choosing location, size, and characteristics. I make sure that your investment is well placed and well protected. I also understand the tax implications that come with purchasing a home and also in purchasing an investment property. My background in marketing helps me to better understand how to use the latest technology and trends to sell your home in the smallest amount of time with the largest amount of equity going back to you. I also hold an E-PRO certification stating that I use technology to my full advantage when selling or buying a home.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
