On Sunday, February 22nd, The Mobile Press Register printed a few statistics regarding real estate in our area. All of which is Good News if you are currently thinking about buying a new home or investment home. This is definitely a great time to buy.
- The 2008 Mobile county foreclosure rate is currently at .99%, which is down 19% from 2007.
- The house prices are 4.97% higher in the 3rd quarter of 2008 from the same time in 2007.
- The average weekly wages is up 3.4% in 08 as compared to 2007.
- Interest Rates are the lowest they have ever been, less than 5%.
- First time home buyers can get an $8000 tax credit, which could result into a tax refund. You will qualify as first time home buyer if you have not purchased a home in last 3 years.
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