News 12 at 6, October 20, 2008
AUGUSTA--The housing market is in deep trouble around the country but not as much around here. Some new numbers say houses in the Augusta-area are still gaining value.
Real estate reality for the Augusta is that things are not as good as they were a few years ago.
But a new survey says things here are a whole lot better than they are just about everywhere else.
Angelika Finn is in a position that some of her neighbors have been in these days, she needs to sell her home.
"Many are choosing the rent option which is not something I'm willing to do." she said.
So she'll wait it out with a house she thinks is priced right, but she says she knows the value has dropped.
"Three years ago, I feel I could have gone up $20,000." she said.
But compared to the way housing prices have dropped around the rest of the country, Angelika is sitting pretty. And some new numbers say the Augusta-area isn't too bad off either.
A survey by a company called First American Core Logic says sales of homes are down 23 percent. But that's compared to a 34 percent national average.
What about prices?
That same survey says values went up 1.35 percent. The rest of the nation lost nearly eight percent.
Realtor Bob Bolton echoes those numbers.
"I see prices stabilizing. Not really jumping, not really dropping." he said.
It's the "not dropping" portion of that statement that matters. Much of the rest of the country is losing value but that's not happening here.
"People are still buying houses today." he said.
Angelika's hoping one of those people will buy her house before too long.
"So far so good. There is some traffic, but they're not coming in droves." she said.