News for Lake Oconee-Reynolds Plantation, GA - Saturday October 24th, 2009 8:40am
http://www.msnbc.msn.com/id/33448199/ns/business-real_estate/

WASHINGTON - Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

The National Association of Realtors said Friday that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

The median sales price was $174,900, down 8.5 percent from a year earlier, and slightly lower than August's median of $177,300.

"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

The inventory of unsold homes on the market fell about 7 percent to 3.63 million. That's a 7.8 month supply at the current sales pace, and the lowest level since March 2007. Nationwide sales are up nearly 24 percent from their bottom in January, but are still down 23 percent from four years ago.

Sales rose around the country, especially in the West, where they grew 13 percent from a month earlier. Foreclosure sales are booming in cities like Los Angeles, San Diego and Las Vegas.

First-time homebuyers and investors are snapping up those homes and taking advantage of low mortgage rates. These buyers can also take advantage of a tax credit of 10 percent of the sales price, up to $8,000, if the sale is completed by the end of November.

The tax credit is so important to some buyers that they are adding a clause to their contracts, allowing them to back out if the sale doesn't close by Nov. 30.

While home sales and housing construction have risen steadily after hitting bottom earlier this year, most economists believe that the worst isn't over for home values.

News for Lake Oconee-Reynolds Plantation, GA - Friday October 16th, 2009 9:00am
Washington, October 01, 2009

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors^®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

News for Lake Oconee-Reynolds Plantation, GA - Friday October 2nd, 2009 9:26pm
The 10th annual Taste of Eatonton is just around the corner. The event is happening on October 5th at the Plaza Arts Center lawn in Eatonton from 6 - 8:30pm.

If you have never been to this event, you are really missing out on some great food and fellowship! Twenty five of the restaurants and catering services from around the area are cooking up everything from steaks to cakes for you to try. It is a wonderful way to sample the area cuisine all in one place.


Dock 103 will be broadcasting live and spinning some festive tunes for all that come. A portion of the proceeds benefit the local Chamber of Commerce supporting Eatonton and Putnam County. It's fun for the whole family and one of the biggest events of the year.