About Houston County, GA

Housing Price Index Update - As of Sep 2008

There are different real estate economy indicators for Middle GA homes for sale, but I prefer to look at The Office of Federal Housing Enterprise Oversight Home Price Index at http://www.ofheo.gov/. Warner Robins GA was unranked in 2007 with 6.52% percent increase in Housing Price Index. In the last 5 years there has been a 21.39% total increase averaging 4.3% per year with the housing market in Warner Robins. The National HPI fell in 2007 .3%. It is important to remember that the National Average is just that - an average compared to what it was 12 months prior. There are many communities above the average and many below the average. Warner Robins real estate market remains strong, but average days on market have increased in 2008 by 1 or 2 months and list to sell prices dropped slightly. National averages on HPI have decreased, but our local market in Warner Robins Georgia continues to appreciate. HPI is based on total change over the past 12 months.

1^st Qtr 08: (Jan-Mar)

National HPI fell 1.7%

Warner Robins 1.03 increase

2^nd Qtr 08: (Apr-Jun)

National HPI fell 1.4%

Warner Robins .65 increase

Sunday May 18th from 1-3 p.m. in Carrington Estates

Directions: Hwy 41 N, left on White Rd, left into Carrington Estates, right on Caleb Way

Here is the link with more information about this home for sale in Warner Robins, Byron, area.

http://www.johncobbmiddlega.com/Warner-Robins-AFB-GA-Real-Estate_listings/open_houses.shtml

Financing and interest rates on new homes is changing daily. One recent change is that 100% loans for the most part are going away unless you qualify for a VA Loan. Credit score requirements are also increasing. This doesn't mean its impossible to get a loan, it just means that you need to plan ahead. 600 credit score is not hard to achieve, but it will be very important if you want to get that new house you have been dreaming of. If you don't qualify for a VA Loan then you should plan on putting at least 3% down on your new home. If you don't have a 600 credit score or 3% down then that shouldn't stop you from looking at homes right now or making an offer. It is still a great time to buy a home with low interest rates, a buyer's market, and there are ways to work with your current credit score and down payment. One option that might work well for you is a lease purchase, another would be a delayed closing, and we can try to find other options for your particular needs. But your best bet is to have 3% down - so start saving now if you haven't already. I also recommend calling a local lender in your buying area TODAY to get qualified, find out your credit score, how much you qualify for, and get your preapproval letter. If your credit score is low then you can start working with your lender today to start getting your credit score where it needs to be in order to purchase the home when you want. If you are ready to purchase a new home and wish to get a 100% loan then you have a few days left, because it is still possible to get a 100% Conventional loan until the end of March (5 more days). John Cobb 478-396-2440 Homes for Sale in Warner Robins GA

John W. Cobb

REALTOR^® jcobb@coldwellbankerssk.com

Coldwell Banker, SSK Realtors

Cell – (478) 396-2440

Work – (478) 953-8595 ext 272

http://www.johncobbmiddlega.com

There has been a lot of negative news media about the Real Estate market over the past several months. I have been telling my customers that some states are having problems such as California and Florida, but Georgia's Real Estate market remains strong. Homes for Sale in Warner Robins GA have been averaging steady 3% to 4% appreciation per year with no housing bubbles, which has created a healthy housing market. I was in our weekly sales meeting Wednesday and our office manager was talking about the Housing Price Index (HPI) in Georgia and Warner Robins. I pulled up the same information online and thought I'd share the same information here in my blog. The Housing Price Index (HPI) is a broad measure of the movement of single-family house prices. The HPI for each geographic area is estimated using repeated observations of housing values for individual single-family residential properties on which at least two mortgages were originated and subsequently purchased by ether Freddie Mac or Fannie Mae since January 1975. The HPI is a measure designed to capture changes in the value of single-family homes in the U.S. by state and metropolitan areas. Percent Change in House Prices by Office of Federal Housing Enterprise Oversight (OFHEO) Georgia was ranked #24 in 2007 with 2.55 percent increase. In the last 5 years 24.74% increase. East South Central was ranked #2 in 2007 with 4.14 percent increase. In the last 5 years 29.77% increase. Warner Robins GA was unranked in 2007 with 6.52% percent increase. In the last 5 years 23.44% increase. This is big news for the naysayer’s and people waiting for the market to improve before buying a home in Warner Robins GA. It also means I have been underestimating my estimate of 3% to 4% yearly appreciation. A better estimate of appreciation I should be telling my customers is 4% to 4.5%. Interest rates are low and now is truly a great time to buy a home in Warner Robins GA.

John W. Cobb

REALTOR^® jcobb@coldwellbankerssk.com

Coldwell Banker, SSK Realtors

Cell – (478) 396-2440

Work – (478) 953-8595 ext 272

http://www.johncobbmiddlega.com

Warner Robins Real Estate has been extremely busy this year. Many people are looking for houses this year. Unfortunately some people have the misconception that all the prices have dropped significantly and there is a deal on every corner. There are many homes for sale in Warner Robins GA right now, but the prices of homes in general has not decreased. Appreciation of homes in Warner Robins GA is still averaging 3 to 4 percent appreciation per year. Pricing of homes is very competitive though - the correctly priced homes sell much faster than the over priced homes. So there are many good homes, in good repair, priced correctly, and are ready to sell! There are also many buyers looking right now - many buyers and many sellers is making for a very healthy real estate market in Warner Robins GA in 2008.

John W. Cobb

REALTOR^® jcobb@coldwellbankerssk.com

Coldwell Banker, SSK Realtors

Cell – (478) 396-2440

Work – (478) 953-8595 ext 272

http://www.johncobbmiddlega.com