| Realtors mixed on who drives market in area
Local real estate brokers expect spring to be good for both those looking to buy or sell a home.
However, opinions vary on whether the market favors buyers or sellers as the real estate business enters one of its most lucrative times of the year.
Once we hear the robins sing and the snow melts, things turn around pretty quickly. Once the cold breaks, things pick up. We are looking for another good year, said John Stultz, owner/ broker of Stultz Real Estate, Hollidaysburg, which had its best sales year ever in 2006.
Stultz said the local real estate market at the moment favors buyers.
At this time, I would call it a buyers market. [For] the homes on the market, their days on the market are increasing, Stultz said. Sellers should become more motivated and hope for the best offer they can get.
Diamond Jo's Impact on the Community
As floods of people roll the dice and give lady luck a try at Diamond Jo, business owners in Lake Mills say the gamblers cash is also trickling into town. "We've had a very good business year, a lot of new faces," said Lake Mills Pizza Ranch store owner Cathy Nygard. Many of the new faces work at the casino. Worth County has never seen more jobs created in one place. Lake Mills real estate agent Harris Honsey says a good number of those near five hundred new employees at the casino are choosing to live in Lake Mills. "It's only nine miles. Obviously those driving a great distance over time are going to notice that it would be a lot more economical for them to live nearby," said Honsey. Economic development expert Teresa Nicholson says the casino's proved it's a huge benefit to every community in Worth County by donating millions.
Home Depot, Wal-Mart May Suffer as Mortgage Woes Hit Customers
March 29 (Bloomberg) -- Al Ynigues bought his first house in 2004. Since October, his monthly mortgage payment has climbed 16 percent, to $2,417. It will rise again April 1. Ynigues, 65, makes $2,800 a month as a self-employed music teacher. He says he eats once a day, has stopped paying his utility bills, and is late on payments for his home in Apple Valley, Minnesota, 20 miles south of St. Paul. ``My mortgage has changed everything,'' said Ynigues. ``It's really demoralizing.'' Ynigues is one of about 800,000 U.S. homeowners who took out so-called subprime mortgages and now are struggling to make monthly payments. As these consumers spend less on products including home furnishings and clothing, sales of retailers such as Home Depot Inc. and Wal-Mart Stores Inc.
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