And the Good News Is...

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."

As of 12/01/09 the Nancy Hilley RePage is ranked at 1,808 with 85 points.
The monthly top RePage owner will receive a cash prize. Help this agent by bookmarking this site and posting it to blogs and other Web pages and encourage others to visit.

Local Information for Orange Beach, AL

Latitude: 30.267797 -- Longitude: -87.701468

Enter our Photo Sweepstakes and Win $200 for your Gulf Shores photos!

Click on Photos to Enlarge. To see all Gulf Shores area photos Click Here.

Submit your photos of Gulf Shores and become eligible to win $200. Click Here for details.

Gulf Shores is a coastal city in Baldwin County, Alabama, United States. As of the 2000 census, the population was 5,044. However, since the year 2000, Baldwin County, Alabama as a whole, has experienced the fastest rate of population growth in the state, second only to Shelby County, Alabama. Gulf Shores is one of two (Orange Beach being the other one) seaside resorts in the state of Alabama. Most of the city is therefore devoted to beachfront hotels, condominiums, vacation houses and a tourism/real estate based economy. Because the nearby Mississippi Gulf Coast is protected by barrier islands, Gulf Shores is one of only two resort cities with a large beach, fronting the Gulf of Mexico between New Orleans, Louisiana and the well-known resorts of Florida. -- Source: Wikipedia.com

Alabama 2000 Census Population Profile Map

	Gulf Shores	Alabama	United States
Population	5,044	4,447,100	281,421,906
Median age	46.3	35.8	35.3
Median age for Male	45.5	34.4	34
Median age for Female	47	37.2	36.5
Households	2,344	1,737,080	105,480,101
Household population	5,042	4,332,380	273,643,273
Average household size	2.15	2.49	2.59
Families	1,545	1,215,968	71,787,347
Average family size	2.56	3.01	3.14
Housing units	6,810	1,963,711	115,904,641
Occupied units	2,344	1,737,080	105,480,101
Vacant units	4,466	226,631	10,424,540

Visit US Census