2007 Watters Crossing Real Estate Report

Dear Watters Crossing Neighbor:

Well, all of the Christmas decor has been returned to its place of storage, our children have back to their homes (or college, in the case of our youngest), so it’s a good time to take a last look at the real estate market in 2007 and how things appear to be shaping up for 2008.

First of all, the review for 2007.  Take a look at the quarterly breakdowns below for the years 2004 through 2007.

Overall, the numbers are very good.  We set an all time record for the Average Square Foot (ASF) price in 2007 of $91.81, and the average Days on Market (DOM) for the year was just shy of two months, coming in at 58 days.  The performance in the third and fourth quarters didn’t match the first half, but despite the incessant negative real estate press over the last year, Watters Crossings sold for the highest price ever on average.  I believe the reasons for this fact are primarily; neighborhood appearance and amenities, convenient location, Norton Elementary, and the bang for your buck relative to surrounding neighborhoods.

Looking forward to 2008, the continued development of the high-end retail in Montgomery Farms as well as the much higher prices they are charging for the housing developments abutting Watters Crossing will, I believe, have a positive impact on the prices for homes in our neighborhood.  The recognition of Norton Elementary as a National Blue Ribbon School is another very strong selling point as well.  As long as the job market continues to be strong locally (and I believe it will be) I look for 2008 to be another excellent year for Watters Crossing.

One final thought.  Well, two final thoughts, actually.  First, if you are thinking of selling your home in 2008, I would love to talk to you.  Second, if you receive a tax assessment notice that you believe is excessive, give me a call and I’ll get you sales comps to help you fight an increase in taxes.  The bottom line is, if you have a real estate question or need, I want to be the person you call!

Best Regards,

Will Richardson

RE/MAX Town & Country