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 11/26/09 the Wayne Robinson RePage is ranked at 7,953 with 40 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 Midland, TX

Latitude: 32.005072 -- Longitude: -102.099239

Other Area Cities: Midland Odessa

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

To see random photos for other cities Click Here.

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

Midland is the county seat of Midland CountyGR6 located on the Southern Plains of the western area of the U.S. State of Texas. It is the principal city of and is included in the Midland, Texas Metropolitan Statistical Area, which is included in the Midland-Odessa, Texas Combined Statistical Area. As of the 2006 U.S. Census estimate, the city had a total population of 100,378. The Midland–Odessa metropolitan area, however, had a population of 246,710. Midland was originally founded as the midway point between Fort Worth and El Paso on the Texas and Pacific Railroad in 1881. The city has received national recognition as the hometown of President George W. Bush and First Lady Laura Bush. -- Source: Wikipedia.com

Texas 2000 Census Population Profile Map

	Midland	Texas	United States
Population	94,996	20,851,820	281,421,906
Median age	34.1	32.3	35.3
Median age for Male	32.4	31.3	34
Median age for Female	35.6	33.4	36.5
Households	35,674	7,393,354	105,480,101
Household population	93,574	20,290,711	273,643,273
Average household size	2.62	2.74	2.59
Families	25,209	5,247,794	71,787,347
Average family size	3.19	3.28	3.14
Housing units	39,855	8,157,575	115,904,641
Occupied units	35,674	7,393,354	105,480,101
Vacant units	4,181	764,221	10,424,540

Visit US Census