By JENNIFER GORDON, Vincennes Sun-Commercial staff writer
There is some debate amongst those who know about the nature of the local housing market.
Health Klein, owner of Klein Realty, 404 N. Seventh St., said locally, the market is better this year than last year.
"Our data shows that last year there was $45,326,000 worth of realty sold throughout Knox County, not just by our company," he said. "This year we show sales of $51,940,000 in real estate."
Sue Thompson, owner of Century 21 Heritage Realty, One Executive Blvd., believes the local market has been negatively impacted by the national market.
"Sales are down overall and it is hurting us," she said. "We are hoping that something happens soon to stabilize the market. I've always thought we had a steady market here but sales are down and listings are down."
"I cannot say that the national market is a picture of our economy here," said Mary Clayton, sales associate with F.C. Tucker Realty, 621 Main St. "The national market just doesn't seem to have the same affect on Vincennes as it does in other areas. House here continue to appreciate gradually and we continue to see a steady slow increase in our housing market."
Clayton said the impact from increases several homeowners have seen in their property taxes hasn't affected the market.
"We aren't seeing a lack of sales yet, but it is still early to know how the market will be affected," she said. "I think it will have more of an impact than in previous years."
Clayton said she would like to see a better system in place.
"We have to come up with a better taxation process," she said. "I know there are elderly out there on a fixed income that have paid for their homes, they've paid their dues but their taxes have increased and they can't afford them."
Klein said he believes the property tax increases have affected some of his sales.
"It's still early yet, so I'm not sure what kind of impact the property tax situation will have," he said. "I have had a few homes that people didn't buy because of tax increases. It has affected some of my sales and I know a lot of potential home buyers are concerned about it."
Klein said that according to his data, more houses sold last year, but for less money.
"In 2006, the average sale price throughout Knox County was around $76,000," he said. "This year the average sale price has been $93,000, so more expensive homes are selling, or perhaps some of the home have just increased in value."
Klein believes this year has been one of the best for his company.
"We've been really busy and the market is still competitive," he said. "Sales have been steady and so is the local market. It's been one of the best years we've ever had."