Residential real estate market healthy, growing, say Realtors

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Local Realtors agree that attractive interest rates, coupled with a good supply of inventory, has kept the residential real estate market active in and around Springfield and they expect 2002 to be as promising as 2001, if not better.|ret||ret||tab|

"I'm looking forward to a really good year next year," said Jerry Rutherford, owner/broker of ERA Rutherford Real-tors, whose business has increased steadily since he opened his office in 1997.|ret||ret||tab|

Rutherford attributes the steady growth in the local market to a stable local economy, noting that Springfield does not experience the variation in employment, such as major layoffs, as some other areas do.|ret||ret||tab|

Compared to the national economy, the local economy has remained stable for a number of years, according to Joyce Livingston, broker/Realtor with Murney Associates, Realtors|ret||ret||tab|

In reference to Sept. 11, Livingston said, "Some people were apprehensive about national events, but it hasn't affected us as much as some other places."|ret||ret||tab|

Sheree Lane, broker for Keller Wil-liams Realty, stated that things were "pretty quiet" for a few weeks after the September disaster, but the market soon picked back up. |ret||ret||tab|

Multilist statistics recorded the average sale price in September as $106,500, as compared to $102,200 in the same month of 2000. The reported average for November of this year was $110,500 compared to $102,500 in 2000.|ret||ret||tab|

The 2001 averages were slightly higher in the spring with a jump in April to $118,070, compared to slightly over $100,000 in preceding months.|ret||ret||tab|

Rutherford said that statistics do not always paint a true picture, since the sale of one or two high-end homes can tilt the average. Livingston agreed, adding that some really high-priced homes sold last spring that would have affected the average.|ret||ret||tab|

Livingston indicated a broad range of $90,000 to $130,000 as the most active sales range and said she expects this trend to continue. Rutherford said that home buyers can expect to find an ample supply of houses in this price range and should be able to find something on the market to fit their needs. Listings sold in September were up by 600 compared to the same month in 2000, Rutherford said.|ret||ret||tab|

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Consumer confidence|ret||ret||tab|

According to Rutherford, public confidence in the government and the economy will have an effect on the next several months of activity in the local market.|ret||ret||tab|

Lane also believes that people in the Ozarks are optimistic about the local economy and will continue to shop for housing to take advantage of attractive interest rates. "Buyers are back; even the top-end buyers, who were probably af-fected by the stock market plunge, are starting to come back," she said.|ret||ret||tab|

Agents agree that mortgage lenders are doing all they can to encourage buyers. Lots of people who may not have qualified for a loan a few years ago are being considered for loans now, Lane said. Some people are getting into houses with very little money down. She added that low rates have made it possible for people to qualify for "more house" than they might have when rates were higher.|ret||ret||tab|

Rutherford said, "Certainly rates are low. Anyone with an inkling to buy, now's the time to do it."|ret||ret||tab|

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Hot areas|ret||ret||tab|

According to Livingston, the southeast area of Springfield has long been the hottest area of the city and will continue to be active. She said she has also seen a lot of activity in the bedroom communities surrounding Springfield, such as Nixa, Rogersville and Willard.|ret||ret||tab|

Lane noted that she has seen better homes being built all over Springfield and the surrounding area and that her agency has also seen an increase in business from the north side of town. She added that Ozark and Republic both had some recent infrastructure problems due to the rapid growth in the 1990s that softened sales in those areas, but that both cities upgraded their systems and are coming back.|ret||ret||tab|

Areas such as Willard, which has a reputation for a good school system, also have attracted home buyers, many of whom are families with young children.|ret||ret||tab|

"Quality education affects a family's decision to move to an area," Lane said.|ret||ret||tab|

Livingston noted that inventory is plentiful and prices have stayed pretty flat. In sum, local agents agree that these factors, along with low interest rates, make it a great time to buy a home and that many people are taking advantage of the opportunity.[[In-content Ad]]