Throughout 2009 and into 2010 Pott. County home sales have remained above the norm. The tax rate is also lower than some surrounding counties. Make sure to visit here before you make your home purchase.
October 28, 2008 6:00 PM
Pott Co. home sales not as down as some
Times News Service
While home sales aren't what they were two years ago, Pottawatomie County hasn't experienced the housing collapse of other parts of the country.
The value of residential property has remained stable, or even increased slightly, and local banks have reported very few foreclosures, Lois Schlegel, county appraiser, told the Pottawatomie County Commission Monday.
"I just don't think the stuff that's happening on the east coast and west coast is happening here," Schlegel said. "It's encouraging to see the numbers I'm seeing. I don't think the market is suffering around here like it is elsewhere around the country."
Schlegel reported 67 property sales for the month of September, including residential, commercial, vacant lots and agricultural.
Although total sales for the year (478) are lagging 2007 (594), the September sales are about "back to normal" for the year after just 38 sales in August, the second lowest of 2008.
The 67 property sales in September included 42 residential, one commercial, 14 vacant lots, and 10 agricultural, she said.
Schlegel said a survey of county banks revealed a very low percentage of mortgage foreclosures.
"That's encouraging, as far as I'm concerned," she said. "They've (banks) been very conservative in their lending practices the last few years."
Countywide, the average price for residential property has increased slightly––from $160,319 in 2007 to $166,284 this year. However, that figure may be skewed somewhat by the rising price of rural residential property––homes with one or two acres, she said.
In town, home prices "are not dropping like a rock, but with the recession they may drop more by the end of the year," Schlegel said. "We're not seeing a negative trend, but I do think the values will come down."