December 2010 Rutherford County Real Estate Update
In this edition of Tuesday Morning Coffee John Jones presents the final real estate statistics for November 2010 and compares them to the Rutherford County numbers for 2009.
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JOHN: Hey, this is John Jones with another edition of Tuesday Morning Coffee. Thank you, guys for tuning in. Today, we’re going to talk about the November sales numbers, and they’re about as cold at the weather is outside, the temperature is outside. In November of 2010, we sold 176 single-family residences in Rutherford County. Compare that to a year ago, same month, November ’09 where we did 324. That’s a 45% decrease.
Pendings for the month are down 36% over last November. And then our actual inventories right now are almost dead even with where they were last year, which if there is I guess a good sign today, that would be it. For the year, the totals are we have sold 2,929 single-family residences compared to 3,195 last year. So we’re down only about 8% from 2009. If you recall earlier this year, our sales numbers for the first quarter where really, really high.
The tax credit ran out in May and we kind of had a feeling, if you remember, that maybe a lot of people who were going to buy this year just kind of moved up to the front of the bus so to speak. So that’s where we are on that. Guys, this is the best market. I know you’ve heard me say it before, but if you are a buyer right now with the rates as low as they are, pricing as low as it is, it’s absolutely a beautiful time to buy a home. If you have ever, ever tinkered with the idea of investing in real estate, your returns would never be better than they are now.
And what I mean by that is what you could rent a home for for what you would have to pay for it, the ratios are incredible. So if you’ve got some money just sitting in a CD somewhere absolutely earning you nothing or somewhere—there’s not many places that can earn you much—please give us a call, 867-3020.