Dyersburg Real Estate Market Conditions Dec 16, 2009

Today is December 16, 2009 and for the last couple of weeks all of my agents(including myself) have been very busy assisting clients finding and purchasing houses.

The reason for this new activity in the Dyersburg real estate market is twofold.

1. First of all, many have been sitting on the fence just waiting to buy. Finally we start getting some good news nationally and people are starting to feel better about the economy.
2. The first time home buyer tax credit has been extended until April 30, 2010. Also another tax credit was added to repeat buyers who have lived in their home for 5 out of the last 7 years consecutively and purchase another primary residence. For more information about both of these programs click here.

I promise to return here in early January to share the market numbers for the Dyersburg real estate market conditions comparing 2009 with 2008 and also comparing Dec 09 with Dec 08.

Home Buyer Tax Credit

On January 1, 2009 the new taxpayer first time homebuyer tax credit took effect. This was just extended from the old deadline of Nov 1, 2009 to April 30, 2010. This tax credit is for qualified buyers who have not lived in a principal residence in the last 3 years and the credit is for 10 % of the purchase price up to $8000.

In addition to the first time homebuyer tax credit, the congress and the president passed a second homebuyer tax credit for qualified move-up/repeat home buyers(existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 or purchased and closed by June 30, 2010 with a binding sales contract signed by April 30, 2010. This tax credit is also for 10% of the purchase price up to $6500.

For more information click on this link.

Dyersburg real estate market conditions

Today is November 16, 2009 and here is what's happening in our market.

Up until about 3 weeks ago, first time home buyers were scrambling to get their contracts signed and houses closed. Now,those first time home buyers have more time to get this done and many are now back on the fence but still looking for great deals.

The biggest sector for sales right now is with investors. We are still seeing a lot of foreclosures and when these properties hit the market investors are stepping up to purchase. Many of these are initially trying to flip these properties but most end up in the rental market. This trend has softened the demand for rentals right now driving down the monthly rental amounts.

We are still seeing people relocating in with jobs but most of these still have a house to sell back home. Most if not all of these are renting until their houses back home sell.

I told a potential client this morning that I can sell his 2 houses but he will be competing with these foreclosure houses and this means at a much lower sales price. He chose to wait and just rent out his properties.

There are some great deals right now in our market and if you enlist the right Realtor to help you, you can beat these investors and real estate agents at their own game.

Dyersburg handicap accessible apartment available

Carousel Realty and Frazier properties either own or manage about 100 properties. We just had come available a 2 bedroom 1.5 bath apartment at Laurenwood apartments on Tickle Street.

As you can see the front of the building has a nice ramp for wheel chairs to go inside and outside the building. The master bathroom has a wider doorway to allow wheel chair entry. We do have another handicapped fellow across the hall from this apartment.

We are in the process of installing new carpet in the living room and hallway. This is available on a short term basics or long term. If you are looking for a Dyersburg handicap accessible apartment then this is it. Contact us at 731-285-2277

Fantastic opportunity for lakefront foreclosure near Dyersburg,Tn

I have been watching a foreclosure in Lakewood(about 4 miles north of Dyersburg,Tennessee)and now it is priced to sell!

This house is a 4 bedroom 3 bath sitting on about one acre and has lots of lake frontage on Lakewood's 4th largest lake. The original list price on this Dyersburg foreclosure was $160,000 but has been reduced to $142,500.

I know this home well as it used to belong to my best friend who sold it about 4 years ago in mid 160's.

This foreclosure is listed by Leon at Tennessee Realty but I am ready to help you buy this great deal. In my opinion, this Dyersburg lakefront foreclosure can be purchased somewhere around $130,000. I do not usually recommend real estate deals on this blog but knew that I have a great audience reading this.

Dyersburg Apartment Rentals

As I stated in a post about one month ago, the Dyersburg real estate market is beginning to turn the corner.
Many are starting to move into the Dyersburg,Tn area.

Most of those that are moving in still have a house to sell back home and are looking for available rentals.

It appears to me that the employer bringing in the most people right now is Dyersburg Regional Medical Center. We have rented several apartments to the doctors, nurses and other medical professionals moving into Dyersburg recently.

Carousel Realty can offer other professionals either short term rentals or long term rentals. We even offer our clients month to month leasing until we can help them purchase a home.

Dyersburg real estate first time homebuyer seminar

A couple of weeks ago I blogged about our upcoming first time home buyers seminar.

Ten days ago we hosted that event and those that came enjoyed the door prizes, food and excellent information from three experts in mortgages,taxes and Rural Housing Development.

I blogged on another platform about this event and please click here to read the information that was discussed by the experts.