November 20, 2008

All markets are different. During the next few years, some housing markets will turn around faster than others. How do you know when your particular market has reached its bottom? If you wait until others pick over the great deals, you'll miss the bottom.

Keep a track of how many properties are listed from month to month. Once you start to see a reduction in inventory then that may mean that buyers are starting to buy. There could be two reasons whey inventory is reducing – overpriced homes may be taken off the market and sales volume could be picking up. You can find out this information from your local real estate agent.

Keep reading national and local newspapers. If your local media reporters are now starting to interview experts in your market and asking questions like, “Have we reached the bottom?” then that might be a sign that there may be a shift.

Talk to your friends and co-workers. How are they feeling about your local economy and housing prices? Are they more optimistic now than they were 3 months ago, or even last month?

Consumer confidence will be a big part in the housing market turning around.

Be on the lookout for mortgage interest rates stabilizing and mortgage companies start to ease lending restrictions.

One of the biggest indicators is when prices have stopped dropping. The secret is to buy before they start to inch back up again!

I’m not suggesting that you wait till the absolute bottom of your market to buy. You have to look at a home as a place to live, not an investment. Only you can determine what an affordable monthly payment is relative to the value of the home you are purchasing. There are individual homes for sale that can be bought at the bottom of your market, even if homes in general have not reached that mark.

Talk to a trusted real estate agent – we can help!

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Local Information for Rome, GA

Latitude: 34.259893 -- Longitude: -85.185037

ZIP Codes for Rome, Georgia	30149 30161 30162 30163 30164 30165
Area Code for Rome, Georgia	706
Time zone for Rome, Georgia	EST

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Rome is the largest city in and the county seat of Floyd County, Georgia, United States. It is the principal city of the 'Rome, Georgia Metropolitan Statistical Area' which encompasses all of Floyd County. As of the 2000 census, the city had a total population of 34,980. The name for the town is a commemoration of Rome, Italy. Rome, GA, was built on seven hills, a feature that was the inspiration for the name. This connection is emphasized by a replica of the statue of Romulus and Remus nursing from a mother wolf, a symbol of the original Rome, which was a 1929 gift from the Italian dictator Benito Mussolini. -- Source: Wikipedia.com

Georgia 2000 Census Population Profile Map

	Rome	Georgia	United States
Population	34,980	8,186,453	281,421,906
Median age	34.6	33.4	35.3
Median age for Male	31.9	32.1	34
Median age for Female	37.3	34.6	36.5
Households	13,320	3,006,369	105,480,101
Household population	32,866	7,952,631	273,643,273
Average household size	2.47	2.65	2.59
Families	8,438	2,111,647	71,787,347
Average family size	3.07	3.14	3.14
Housing units	14,508	3,281,737	115,904,641
Occupied units	13,320	3,006,369	105,480,101
Vacant units	1,188	275,368	10,424,540

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November 20, 2008

Local Information for Rome, GA

Latitude: 34.259893 -- Longitude: -85.185037

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