Ozarks home sales mirror national increase

by Linda Russell, KY3 News

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SPRINGFIELD -- Home sales for September jumped 9.4 percent nationally as people rushed to take advantage of a first-time home buyers tax credit. The Greater Springfield Board of Realtors Board President says home sales here in the Ozarks are pretty consistent with the national numbers, which is encouraging. In fact, for the third quarter of 2009, home sales were up about three percent over the same time in 2008.


For the Driscolls, their new little bundle of joy, Abbigail Kay, was just one of the incentives to buy a home of their own.

"There's the big yard- plenty of room to play. We also have lots of elbow room in the house," said Amanda Driscoll.


"For some time, we've talked about it; we love the idea of home ownership," said Joe Driscoll.

Besides the equity they'll build by buying, they'll also get an $8,000 tax credit for first-time home buyers, because their closing date is before the tax incentive's deadline of Nov. 30.

"We're going to be able to do it smoothly now, but we did have some concerns as we kept looking at houses, trying to make some decisions," said Joe.


Real estate agents have encouraged buyers to take advantage of the tax credit, which they believe is partly responsible for September's 9.4 percent sales increase.

"We're also hopeful that Congress will extend that, or even expand it," said Greater Springfield Board of Realtors President Miles Noennig.


Foreclosures and short sales are also making up a big portion of local home sales- about 25 - 30 percent. "We've heard predictions that those aren't going to go away any time in the near future," said Noennig.


Here in the Ozarks, Noennig says the number of homes on the market is steadily decreasing to a more comfortable level, and the average length of time it takes to sell a home is now about 8 months, rather than the 11 1/2 month average not long ago.


He's not sure the tough times are ending.

"Everything is pointing in the right direction. There's still some challenges ahead I think," Noennig said.


But every house sold, like the Driscolls', is one step in the right direction.


"We're just really looking forward to it," said Joe.


"It's been like two steps forward, and one step back, but that's better than one step forward and two steps back," said Noennig.


Noennig says home sales typically slow down in the winter months, so it's not clear if the the positive trend will continue. Again, the deadline to have a sale completed to get the $8,000 tax incentive is Nov. 30.

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