HOMES ALONE: SOMETHING OLD, SOMETHING NEW PLENTIFUL IN MARKET

The housing market in the Cape Girardeau, Jackson and Scott City areas is about the best is has been in some time, real-estate agents said.

"We're surprised more people are not buying homes," said Martha Hamilton of Coldwell Banker Hamilton Realty. "There are a number of homes available at affordable prices, with good interest rats."

"This is a good time for buyers," said Barbara Baker of Town and Country Realty. "Buyers have more of a selection of homes than they have had for a long while."

Ivan L. Irvin of Century 21 Key Realty agreed.

"It's both a good seller's and buyer's market," said Irvin. "Sales are up this year. More people are buying, so it's a good time to list homes."

A variety of single-family homes is available.

This week more than 700 homes are listed with some 26 realty firms in the immediate area. They range from two bedrooms under $45,000 to five-bedrooms at $180,000 and up.

There are a lot in between, the real-estate agents said. They include four-bedroom homes with an average price $137,000 and three-bedrooms with an average price of $95,125.

"There's some great value out there," said Hamilton. "I've studied this market for years, and every now and then there will be a glitch in the market. In this case, the glitch is more homes."

An unusually large number of homes on the market is common in good market years, said Irvin. "People look around and see homes selling, and if they have thought about moving up or selling for any reason, they feel this could be the time to list," he said.

"This is a good time to list," said Baker, explaining interest rates are good and sales are up.

"The rates ease up and down from day to day, but usually by only percentage points," said Baker. "Basically, they're pretty steady."

Rates range from 5.5 percent to 8 percent, depending on the type of mortgage. A 30-year fixed mortgage currently ranges from 7.62 percent to 8 percent while a 15-year mortgage is available for under 7.2 percent.

Lower rates are available on adjustable-rate mortgages, with one-year adjustables at 5.5 percent and three-year adjustables in the 7 percent range.

Many home are being listed by owners who want a different location or a new, bigger or smaller house.

"There aren't that many people moving out of town," said Hamilton. "In fact, we seem to be seeing more people moving into town.

Home construction is up in the area. A total of 42 new-home building permits had been issued at the Cape Girardeau permit office through August for a total of $6 million in construction, an average of more than $140,000. The permits were for homes costing from $65,000 to more than $250,000.

In Jackson more than 400 listings have been recorded since Jan. 1 compared to about 190 at this time a year ago. In Cape Girardeau about 900 homes have been listed since the first of the year compared to 451 a year ago.

As of Sept. 11, there were 400 single-family home listings in Cape Girardeau and 200 in Jackson. There were 40 in Scott City and 35 in north Scott County.

Sales for the year are up, with almost 500 sales having been recorded from Jan. 1 through Sept. 11. The average prices of houses sold ranged from $86,000 to $93,000.

Houses are selling quicker. Agents said new listings are on the market an average 140 days.

National figures on home sales were announced this week. Sales of previously owned homes jumped 3.3 percent in August, to a seasonally adjusted annual rate of 4.32 million, said the National Association of Realtors.

It was the highest level since the group began tracking sales in 1968, and beat the record 4.28 million rate in May 1996. Regionally, sales in the Midwest, West and South fell in the Northeast.