Ripped from the headlines - “Dothan Home Values on the rise”
April 14th, 2008 - Categories: Dothan area Real Estate Market information
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
“Local population, home values on rise” was the headline of a story in a recent edition of the Dothan Eagle. According to the story, Dothan area home prices have risen over nine percent in the past year; a stat from the Office of Federal Housing Enterprise Oversight. It isn’t until near the end of the article that we read that this rise was from 2006 to 2007. Also, note that the OFHEO, according to their website, does not use data for FHA and VA loans, only conforming conventional mortgages, and that they do not figure in newly built homes into their index. I am not disputing the numbers mind you. What I am saying is that more current numbers, and statistics that include new construction and FHA financing, will not show such a significant rise in values.
We will be looking at median price, list-to-sell price, and some neighborhoods around town where sales are strong in the coming days as the first quarter numbers are finalized. While the Dothan MLS data doesn’t include every home that has sold in Dothan (for sale by owners and some new construction may not be listed), it does provide a well balanced set to use for comparative purposes.
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