November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Athens, GA

Latitude: 33.955464 -- Longitude: -83.383245

ZIP Codes for Athens, Georgia	30601 30602 30603 30604 30605 30606 30607 30608 30609 30612
Area Code for Athens, Georgia	706
Time zone for Athens, Georgia	EST

Other Area Cities: Athens, GA Bogart, GA Winterville, GA Winder, GA Watkinsville, GA

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Athens is a city in Athens-Clarke County, Georgia, U.S., in the northeastern part of the state, at the eastern terminus of Georgia 316.Athens became a unified government with Clarke County, Georgia in 1990. It is home to the University of Georgia, a major educational institution in the South and a football powerhouse in the Southeastern Conference. Athens officially became a town in December 1806 with a government made up of a three-member commission. The university continued to grow, but so did the town, with cotton mills fueling the industrial and commercial development. Athens became known as the "Manchester of the South" after the city in England known for its mills. In 1841, railroad lines were laid through Athens, expanding the commercial development and connecting the city with Atlanta to the west and Greenville, South Carolina to the north. As of the censusGR2 of 2000, there were 100,266 people living in Athens. -- Source: Wikipedia.com

Georgia 2000 Census Population Profile Map

	Athens	Georgia	United States
Population	100,266	8,186,453	281,421,906
Median age	25.3	33.4	35.3
Median age for Male	25	32.1	34
Median age for Female	25.6	34.6	36.5
Households	39,239	3,006,369	105,480,101
Household population	92,125	7,952,631	273,643,273
Average household size	2.35	2.65	2.59
Families	19,333	2,111,647	71,787,347
Average family size	2.95	3.14	3.14
Housing units	41,633	3,281,737	115,904,641
Occupied units	39,239	3,006,369	105,480,101
Vacant units	2,394	275,368	10,424,540

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November 20, 2008

Local Information for Athens, GA

Latitude: 33.955464 -- Longitude: -83.383245

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