Something is Happening in the Housing Market

Yes, something is happening in the housing market. It is getting better. For the first time in 5 years home resales improved for 3 consecutive months. Following its worst performance in 70 years the housing market is coming back. The number of listed homes decreased as did foreclosure sales. "People believe the worst is behind us," states Julie Longtin, a real estate agent from Rhode Island. Sales have risen in 40 out of the 55 major metropolitan areas over the last three months. Median sales prices were up from June to May, meaning the gap is narrowing between the asking price and the final sales price. With lower prices, low mortgage rates and government incentives for buyers, home ownership is more affordable than its been in decades.

"We are seeing contracts like crazy," said Valerie Huffman, vice president of a real estate office in Montgomery County, Md, where home sales are up 42% over last year.

It just may be that prices wont go lower, and while there is inventory out there, it is time to buy. A great way to take advantage of lower prices, great financing and a growing concept is the fractional home ownership market. The Ridges at Tellico Lake is offering two magnificent homes with spectacular views of the Great Smoky Mountains from just $149,000 per share.

Owners of an award winning home can save hundreds of thousands of dollars by purchasing the same luxury quality they are used to for just a fraction of the cost. These homes are exquisitely furnished and ready to move in to. For more information about these fractional mountain getaways, and available home sites visit www.theridgesattellicolake.com or call 1-877-Tenn-A-See (836-6273).