Southwood Home Sales See Rapid Growth In Distressed Properties
Posted by Joe Manausa on Thursday, August 2, 2012 at 12:05 PM
By Joe Manausa / August 2, 2012
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If you have been thinking about buying a Southwood home, now might be the best time in history to do so.
Here's why. Mortgage interest rates are incredibly low. Historically low. Crazy low.
And values are declining. The combination of falling values and low interest rates make the affordability of a Southwood home better today than it has ever been.
Unfortunately for people needing to sell a Southwood home, falling values is not a trend that will go away any time soon. The real estate graph above shows that 1 in every 3 homes sold in Southwood this year has been a distressed sale, and there are hundreds more to come.
For people who want to buy a home in Southwood, you might be thinking "Joe you're crazy ... why would I buy if values are falling." The answer is simple. The decline in values will only last a few more years, but these low interest rates have to move higher eventually. When they do, the impact on monthly mortgage payments will far exceed any savings from buying at a slightly cheaper price.
So, if you are buying for 10 or more years, now is the time to buy. If you think you'll need to sell in five years, then I would make sure that I purchased a below-market distressed home.
Southwood Home Prices
When we want to know what home buyers are currently paying, we look to average Southwood home sales prices. The graph below shows that average price has come down to $280,000, a decline of 22% since the peak of the housing market.
Southwood Home Values
When we want to measure real estate depreciation/appreciation, we look to the average values found in Southwood home sales. The real estate graph below shows that average to be $121 per square foot in 2012, a decline of 26% since the top of the housing market.
Southwood Home Sales
Finally, to help existing Southwood home owners get a clearer picture of the market, we segregate new home sales from existing home sales. This shows that resales have really depreciated 29% and have sold recently at an average of $116 per square foot. That is a decline of 6% in 2012 already over the average value attained in 2011.
If you want to sell a Southwood home, you need a really aggressive home selling plan to compete with the abundance of inventory.
Recent Southwood Home Sales
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 3005 Dickinson Drive | $225,000 | $126 | 7/31/2012 | 2005 | 1,782 | Arms Length |
| 4275 Raleigh Way | $203,000 | $98 | 7/31/2012 | 2006 | 2,067 | Distressed |
| 3751 Overlook Dr | $365,000 | $134 | 7/27/2012 | 2003 | 2,726 | Arms Length |
| 3163 Nathaniel Trace | $302,404 | $151 | 7/20/2012 | 2012 | 2,007 | Arms Length |
| 2471 Goldenrod Way | $250,000 | $135 | 7/13/2012 | 2012 | 1,850 | Arms Length |
| 3171 Mulberry Park Blvd. | $155,000 | $89 | 7/13/2012 | 2002 | 1,744 | Distressed |
| 4032 Shady ViewLane | $248,000 | $122 | 6/29/2012 | 2004 | 2,027 | Arms Length |
| 3608 Biltmore Avenue | $175,000 | $107 | 6/27/2012 | 2006 | 1,633 | Distressed |
| 3910 Shumard Oak | $155,000 | $102 | 6/25/2012 | 2010 | 1,521 | Arms Length |
| 3008 Dickinson Drive | $380,000 | $103 | 6/25/2012 | 2007 | 3,691 | Arms Length |
| 3246 Belle Meade Trail | $385,000 | $107 | 6/20/2012 | 2007 | 3,612 | Distressed |
| 3254 Stanhope Drive | $223,000 | $99 | 6/18/2012 | 2003 | 2,250 | Distressed |
| 4024 Colleton Court | $118,000 | $89 | 6/14/2012 | 2003 | 1,324 | Distressed |
| 4290 Park Crossing Trl | $125,000 | $83 | 6/11/2012 | 2005 | 1,511 | Distressed |
| 4260 Summertree Dr | $220,000 | $110 | 6/8/2012 | 2006 | 1,997 | Distressed |
| 3690 Biltmore Avenue | $175,000 | $110 | 6/1/2012 | 2005 | 1,584 | Distressed |
| 4085 Faulkner Lane | $455,100 | $145 | 5/23/2012 | 2011 | 3,134 | Arms Length |
| 3725 Riverton Trail | $161,500 | $106 | 5/22/2012 | 2008 | 1,521 | Arms Length |
| 3562 Four Oaks | $208,000 | $117 | 5/11/2012 | 2005 | 1,780 | Arms Length |
| 3082 SurratLane | $414,000 | $151 | 5/11/2012 | 2012 | 2,748 | Arms Length |
| 3124 Mulberry Park Blvd | $280,000 | $124 | 5/1/2012 | 2002 | 2,250 | Arms Length |
| 3665 Mossy Creek Lane | $650,000 | $130 | 4/27/2012 | 2002 | 4,990 | Arms Length |
| 3665 Longfellow Road | $170,000 | $107 | 4/27/2012 | 2004 | 1,584 | Arms Length |
| 3218 Salinger | $450,000 | $143 | 4/16/2012 | 2007 | 3,153 | Arms Length |
| 3570 Strolling Way | $279,709 | $155 | 4/16/2012 | 2011 | 1,809 | Arms Length |
| 4114 Faulkner Drive | $335,000 | $131 | 4/9/2012 | 2012 | 2,555 | Arms Length |
| 3558 Four Oaks Blvd | $157,000 | $89 | 4/6/2012 | 2005 | 1,760 | Distressed |
| 3769 Piney Grove Drive | $247,850 | $130 | 3/31/2012 | 2002 | 1,905 | Arms Length |
| 3095 Dickinson Drive | $444,000 | $130 | 3/30/2012 | 2011 | 3,412 | Arms Length |
| 2500 Twain Drive | $275,000 | $126 | 3/29/2012 | 2006 | 2,184 | Distressed |
| 3258 Belle Meade Trail | $507,310 | $103 | 3/29/2012 | 2005 | 4,940 | Distressed |
| 3753 Four Oaks Boulevard | $262,000 | $122 | 3/23/2012 | 2002 | 2,156 | Arms Length |
| 3262 Salinger Way | $320,000 | $124 | 3/19/2012 | 2004 | 2,580 | Arms Length |
| 3757 Esplanade Way | $184,000 | $114 | 3/15/2012 | 2003 | 1,620 | Arms Length |
| 3740 Biltmore Avenue | $205,000 | $127 | 3/6/2012 | 2004 | 1,620 | Arms Length |
| 3157 Mulberry Park Boulevard | $120,000 | $91 | 3/2/2012 | 2002 | 1,324 | Distressed |
| 2558 Twain Drive | $333,500 | $136 | 2/15/2012 | 2011 | 2,450 | Arms Length |
| 3178 Coneflower Drive | $267,000 | $118 | 1/31/2012 | 2008 | 2,260 | Arms Length |
| 3578 Strolling Way | $278,800 | $154 | 1/31/2012 | 2011 | 1,809 | Arms Length |
| 2565 Twain Drive | $542,500 | $122 | 1/27/2012 | 2008 | 4,456 | Distressed |
| 3103 Dickinson Drive | $323,500 | $122 | 1/20/2012 | 2012 | 2,657 | Arms Length |
| 2448 Rain Lily Way | $233,900 | $135 | 1/19/2012 | 2011 | 1,738 | Arms Length |
| 3797 Piney Grove Drive | $249,000 | $106 | 1/5/2012 | 2003 | 2,344 | Arms Length |
| 3614 Strolling Way | $284,900 | $142 | 12/31/2011 | 2011 | 2,005 | Arms Length |
| 2110 Fernleigh Drive | $190,000 | $117 | 12/30/2011 | 2003 | 1,620 | Arms Length |
| 3102 Dunbar Lane | $357,000 | $128 | 12/30/2011 | 2011 | 2,800 | Arms Length |
| 4388 Grove Park Drive | $198,000 | $125 | 12/29/2011 | 2005 | 1,584 | Arms Length |
| 3151 Nathaniel Trace | $292,400 | $139 | 12/23/2011 | 2011 | 2,100 | Arms Length |
| 3162 Dunbar Lane | $527,500 | $119 | 12/20/2011 | 2008 | 4,430 | Distressed |
| 4290 Avon Park Circle | $143,000 | $108 | 12/14/2011 | 2004 | 1,324 | Arms Length |
| 3610 Strolling Way | $274,500 | $152 | 12/9/2011 | 2011 | 1,809 | Arms Length |
| 2405 Goldenrod Way | $284,900 | $142 | 12/8/2011 | 2010 | 2,005 | Arms Length |
| 3143 Nathaniel Trace | $304,700 | $143 | 12/8/2011 | 2011 | 2,124 | Arms Length |
| 3598 Strolling Way | $291,340 | $161 | 12/2/2011 | 2011 | 1,809 | Arms Length |
| 3658 Mossy Creek Lane | $825,000 | $129 | 11/30/2011 | 2006 | 6,377 | Distressed |
| 3406 Mossy Creek Road | $319,000 | $139 | 11/18/2011 | 2011 | 2,288 | Arms Length |
| 3736 Overlook Drive | $420,000 | $132 | 11/15/2011 | 2006 | 3,189 | Arms Length |
| 3767 Overlook Drive | $475,000 | $128 | 11/15/2011 | 2006 | 3,718 | Arms Length |
| 3618 Strolling Way | $249,900 | $147 | 11/15/2011 | 2011 | 1,700 | Arms Length |
| 4300 Four Oaks | $156,000 | $101 | 11/10/2011 | 2010 | 1,551 | Arms Length |
| 3256 Carollton Drive | $225,000 | $112 | 11/9/2011 | 2004 | 2,005 | Arms Length |
| 3108 Mist FlowerRoad | $245,000 | $112 | 11/8/2011 | 2008 | 2,181 | Arms Length |
| 3765 Esplanade Way | $242,000 | $126 | 11/4/2011 | 2003 | 1,919 | Arms Length |
| 2417 Goldenrod Way | $309,000 | $112 | 11/2/2011 | 0 | 2,767 | Arms Length |
| 3304 Calumet Dr. | $150,000 | $106 | 10/31/2011 | 2006 | 1,416 | Distressed |
| 4117 Beckett Road | $249,260 | $105 | 10/25/2011 | 2005 | 2,368 | Distressed |
| 3586 Strolling Way | $309,900 | $148 | 10/21/2011 | 2011 | 2,100 | Arms Length |
| 3562 Strolling Way | $306,000 | $146 | 10/15/2011 | 2011 | 2,100 | Arms Length |
| 3815 Overlook Drive | $205,000 | $107 | 10/14/2011 | 2002 | 1,919 | Distressed |
| 4632 Grove Park | $468,000 | $177 | 10/14/2011 | 2011 | 2,645 | Arms Length |
| 4146 Faulkner | $442,500 | $146 | 10/14/2011 | 2008 | 3,037 | Arms Length |
| 3721 Riverton Trail | $155,000 | $102 | 10/14/2011 | 2008 | 1,521 | Arms Length |
| 3762 Longfellow Road | $300,000 | $125 | 10/12/2011 | 2011 | 2,400 | Arms Length |
| 4654 Grove Park | $549,000 | $174 | 9/30/2011 | 2006 | 3,150 | Arms Length |
| 3154 Dunbar Lane | $565,000 | $168 | 9/30/2011 | 2009 | 3,368 | Arms Length |
| 3258 Thoreau Avenue | $300,000 | $148 | 9/30/2011 | 2006 | 2,027 | Arms Length |
| 4009 Colleton Court | $111,790 | $84 | 9/29/2011 | 2002 | 1,324 | Distressed |
| 3206 Mossy Creek Lane | $332,000 | $120 | 9/29/2011 | 2011 | 2,767 | Arms Length |
| 3725 Overlook Drive | $367,000 | $146 | 9/26/2011 | 2003 | 2,521 | Arms Length |
| 3602 Strolling Way | $347,947 | $147 | 9/2/2011 | 2011 | 2,362 | Arms Length |
| 4014 Blairstone Road | $199,900 | $111 | 8/25/2011 | 2005 | 1,794 | Distressed |
| 3044 Dickinson Drive | $670,000 | $138 | 8/25/2011 | 2008 | 4,864 | Arms Length |
| 4043 Swift Way | $185,000 | $126 | 8/25/2011 | 2004 | 1,474 | Arms Length |
| 4100 Raleigh Way | $222,500 | $109 | 8/19/2011 | 2006 | 2,045 | Distressed |
| 3790 Piney Grove Drive | $275,000 | $103 | 8/12/2011 | 2006 | 2,664 | Distressed |
| 3626 Strolling Way | $311,211 | $148 | 8/8/2011 | 2010 | 2,100 | Arms Length |
| 4252 Raleigh Way | $205,000 | $99 | 8/2/2011 | 2006 | 2,073 | Distressed |
| 3789 Longfellow Road | $519,000 | $136 | 8/1/2011 | 2006 | 3,825 | Arms Length |
| 4286 Avon Park Circle | $190,000 | $97 | 7/29/2011 | 2004 | 1,966 | Arms Length |
| 3190 Dunbar Lane | $537,000 | $157 | 7/29/2011 | 2011 | 3,426 | Arms Length |
| 3053 Four Oaks Blvd | $288,000 | $152 | 7/26/2011 | 2011 | 1,890 | Arms Length |
| 3606 Strolling Way | $269,900 | $149 | 7/22/2011 | 2011 | 1,809 | Arms Length |
| 3571 Strolling Way | $274,900 | $152 | 7/21/2011 | 2011 | 1,809 | Arms Length |
| 4065 Colleton Court | $112,000 | $85 | 7/19/2011 | 2003 | 1,324 | Distressed |
| 2111 Merrifield Lane | $215,000 | $121 | 7/15/2011 | 2002 | 1,782 | Arms Length |
| 3161 Duxbury Ln | $222,000 | $136 | 7/12/2011 | 2006 | 1,632 | Arms Length |
| 3256 Appleton Drive | $301,000 | $142 | 7/5/2011 | 2005 | 2,113 | Arms Length |
| 3247 Newberry Boulevard | $169,000 | $119 | 7/5/2011 | 2003 | 1,416 | Arms Length |
| 4059 Colleton Court | $144,000 | $97 | 6/30/2011 | 2003 | 1,483 | Distressed |
| 3124 Mulberry Park Boulevard | $286,500 | $127 | 6/30/2011 | 2002 | 2,250 | Arms Length |
| 3780 Longfellow | $321,500 | $135 | 6/30/2011 | 2011 | 2,384 | Arms Length |
| 3249 Newberry Blvd | $178,500 | $127 | 6/16/2011 | 2003 | 1,401 | Arms Length |
| 3785 Longfellow Road | $410,000 | $117 | 6/13/2011 | 2007 | 3,516 | Arms Length |
| 4138 Four Oaks Blvd | $155,000 | $102 | 6/13/2011 | 2007 | 1,521 | Arms Length |
| 3099 Dickinson Drive | $336,500 | $131 | 6/10/2011 | 2011 | 2,570 | Arms Length |
| 4070 Colleton Court | $139,900 | $94 | 6/3/2011 | 2003 | 1,483 | Distressed |
| 3570 Four Oaks Blvd | $145,000 | $104 | 5/31/2011 | 2005 | 1,394 | Distressed |
| 3665 Longfellow Road | $185,000 | $117 | 5/31/2011 | 2004 | 1,584 | Arms Length |
| 2124 Fernleigh Drive | $255,500 | $111 | 5/31/2011 | 2003 | 2,308 | Arms Length |
| 2545 Twain Drive | $207,000 | $102 | 5/27/2011 | 2005 | 2,033 | Distressed |
| 3152 Nathaniel Trace | $283,900 | $142 | 5/27/2011 | 2011 | 2,005 | Arms Length |
| 4105 Raleigh Way | $160,000 | $113 | 5/27/2011 | 2006 | 1,416 | Arms Length |
| 2988 Verdura Point Drive | $225,000 | $97 | 5/26/2011 | 2002 | 2,308 | Distressed |
| 4067 Colleton Court | $174,000 | $100 | 5/23/2011 | 2003 | 1,744 | Arms Length |
| 3174 Baringer Hill Drive | $435,000 | $154 | 5/17/2011 | 2006 | 2,825 | Arms Length |
| 3258 Newberry Boulevard | $158,000 | $112 | 5/13/2011 | 2003 | 1,416 | Distressed |
| 4020 Colleton Court | $118,000 | $89 | 5/2/2011 | 2003 | 1,324 | Distressed |
| 3120 Mist Flower Rd. | $192,000 | $137 | 5/2/2011 | 2009 | 1,400 | Arms Length |
| 3594 Strolling Way | $281,297 | $155 | 4/30/2011 | 2010 | 1,809 | Arms Length |
| 3710 Longfellow Road | $317,000 | $118 | 4/22/2011 | 2004 | 2,681 | Arms Length |
| 3075 Bent Grass Lane | $230,000 | $104 | 4/21/2011 | 2010 | 2,212 | Arms Length |
| 4022 Blair Stone Road | $169,900 | $111 | 4/18/2011 | 2005 | 1,524 | Distressed |
| 2467 Goldenrod | $309,900 | $152 | 4/18/2011 | 2011 | 2,033 | Arms Length |
| 3587 Strolling Way | $349,750 | $141 | 4/13/2011 | 2010 | 2,488 | Arms Length |
| 4308 Grove Park | $205,000 | $133 | 4/13/2011 | 2005 | 1,541 | Arms Length |
| 3950 Shumard Oak | $215,000 | $114 | 4/8/2011 | 2010 | 1,889 | Arms Length |
| 3590 Strolling Way | $288,042 | $144 | 4/8/2011 | 2010 | 2,005 | Arms Length |
| 3622 Strolling Way | $277,404 | $153 | 3/31/2011 | 2010 | 1,809 | Arms Length |
| 3972 Shumard Oaks Boulevard | $135,000 | $91 | 3/29/2011 | 2005 | 1,483 | Distressed |
| 3799 Esplanade Way | $179,900 | $106 | 3/17/2011 | 2002 | 1,695 | Distressed |
| 4097 Faulkner | $406,500 | $134 | 3/4/2011 | 2008 | 3,033 | Distressed |
| 3760 Overlook Drive | $295,000 | $129 | 3/2/2011 | 2003 | 2,292 | Arms Length |
| 3202 Dunbar Lane | $304,900 | $131 | 3/1/2011 | 2010 | 2,333 | Arms Length |
| 4151 Faulkner Lane | $450,000 | $151 | 2/25/2011 | 2007 | 2,989 | Arms Length |
| 3910 Shumard Oaks Boulevard | $145,000 | $93 | 2/25/2011 | 2010 | 1,551 | Arms Length |
| 3567 Strolling Way | $312,999 | $139 | 2/25/2011 | 2010 | 2,246 | Arms Length |
| 3154 Duxbury | $328,000 | $131 | 2/25/2011 | 2011 | 2,502 | Arms Length |
| 3198 Dunbar | $525,000 | $158 | 2/25/2011 | 2011 | 3,326 | Arms Length |
| 3254 Belle Meade Trail | $704,000 | $175 | 2/16/2011 | 2005 | 4,012 | Arms Length |
| 3158 Buckhead Trace | $255,000 | $108 | 2/15/2011 | 2002 | 2,368 | Arms Length |
| 3630 Strolling Way | $269,900 | $149 | 2/15/2011 | 2010 | 1,809 | Arms Length |
| 4238 Avon Park Circle | $143,000 | $108 | 2/14/2011 | 2005 | 1,324 | Arms Length |
| 3054 Cummings Avenue | $157,500 | $113 | 2/9/2011 | 2006 | 1,394 | Arms Length |
| 4067 Colleton Court | $148,000 | $85 | 2/7/2011 | 2003 | 1,744 | Distressed |
| 3166 Dunbar Lane | $506,099 | $167 | 1/28/2011 | 2011 | 3,022 | Arms Length |
| 3574 Strolling Way | $299,900 | $143 | 1/28/2011 | 2010 | 2,100 | Arms Length |
| 2421 Orange Avenue | $239,900 | $110 | 1/28/2011 | 2010 | 2,181 | Arms Length |
| 3613 Mossy Creek Way | $659,000 | $169 | 1/28/2011 | 2011 | 3,900 | Arms Length |
| 3169 Mulberry Park Blvd | $135,000 | $91 | 1/26/2011 | 2002 | 1,483 | Distressed |
| 2525 Twain Drive | $280,000 | $111 | 1/26/2011 | 2005 | 2,530 | Distressed |
| 3996 Shumard Oak Boulevard | $90,250 | $68 | 1/19/2011 | 2005 | 1,324 | Distressed |
| 3049 Merchants Row Blvd | $143,000 | $94 | 1/13/2011 | 2007 | 1,521 | Distressed |
| 3753 Four Oaks Blvd | $273,000 | $127 | 1/13/2011 | 2002 | 2,156 | Arms Length |
| 3243 Appleton Drive | $470,000 | $138 | 1/11/2011 | 2004 | 3,414 | Arms Length |
I hope you have enjoyed our Southwood Home Sales Report, don't forget to check back often as we update our information on a regular basis.
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