Where is the bottom?

This is a great question don't you think? Nationally the bottom of the real estate market has hit in some areas but others continue to take a beating. In Bowling Green, Kentucky our market will finish the year with a modest increase to the average sales price for residential homes with the average marketing time around130 days just up 6 days over 2007. The job market here is stable but I think everyone is sitting tight for home purchases through the holiday's. I am hoping that the new administration will pass the housing stimulus plan proposed by the National Association Of Realtors. This plan would give everyone including first time home buyers, a no repayment $7500 tax credit that purchased a home for a limited period and also allow the automatic buydown of the loan interest rate to 4.5%. Nationwide, we must have assistance in getting all the backlog of inventory off the market to experience a full housing recovery. I am enjoying the gas prices these days as I am sure you are as well. It feels great not to have to spend a Ben Franklin every time you go to the pump. Take care and MERRY CHRISTMAS, If you have a real estate question please email me at ktinsley@crye-leike.com and I will do my best to answer it.



Kirk Tinsley
Principal Broker
2009 RASKY President