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Published October 13, 2007 05:35 pm - The reality of realty is not as bleak locally as recent national news headlines suggest, according to area real estate professionals who say the Cullman housing market is strong. Cullman area seems to buck national real estate trend By David Lazenby The Cullman Times The reality of realty is not as bleak locally as recent national news headlines suggest, according to area real estate professionals who say the Cullman housing market is strong.
“It’s been a little slow, but it’s not nearly what the national media makes us think that it is,” said Cindy Dyer of Crye-Leike Realty Inc. in Cullman. The cover of the Sept. 24 edition of Time suggested otherwise. The magazine posed this question: “Will the real estate bust cause a recession?” Less than a month earlier, in the magazine’s Aug. 27 issue, the cover promoted a story on “How Wall Street caused the housing mess.” According to the Sept. 24 article, the average home sits on the market for 9.6 months, more than twice the time it took to sell a house two years ago. However, Rita Tucker, broker and co-owner of Alabama First Realty, said this is hardly the case in Cullman. In fact she said this has been her best year ever. “We’re selling them as quick as they’re getting done,” she said. “We’re not having one bit of problem.” Doom-and-gloom housing market headlines have, however, caused alarm among some buyers and sellers, Cullman Real Estate broker Kay Whaley said. “I’ve had people tell me they thought house values had just dropped, and they haven’t,” she said. “I really don’t think things are that bad. I think it’s just that people are scared because of what they see on TV.” In fact, Whaley said home values in Cullman are continuing to rise at the same time it is falling in other markets, particularly in larger cities — especially those on the West Coast. BJC Real Estate’s Randle Weeks said he is not alarmed by the decreasing value of houses in larger markets where analysts have long warned of housing bubbles ready to burst. “I see that as a market adjustment, just like we see in the stock market,” he said. Neal Culpepper, owner of Culpepper Realty, attributes Cullman County’s healthy housing market to the diversity of the economy. “Traditionally, Cullman doesn’t feel the booms nor the busts of what they feel nationally,” said Culpepper, who added that like real estate, the county’s location has been a major asset for attracting new industry. “Being sandwiched halfway between Birmingham and Huntsville has a lot to do with that,” he said. 
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© 2007, The Cullman Times
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