Real estate totals in third year of decline

The total value of all property sold in Alleghany decreased in 2009, according to information provided by the Alleghany Register of Deeds Office.

Last year's decrease marked the third year in a row that the total dollar value of property transferred has decreased. Over the 2009 calendar year, the total value of all property sold in the county was $43,380,500.

The aforementioned figure represents a $11,077,000 decrease in property sales as compared to the 2008 calendar year's property transfers of $54,457,500. The cost of property sold during the calendar year in 2007 was $109,000,000 with 2006 numbers reaching $116,896,750, according to Roupe.

Roupe remarked, "We have seen a reduction in the number of recorded deeds, but the real estate related documents and vital records have remained consistent.

According to Vickie Bartlett, a real estate broker with Miles Realty, foreclosures overall are up in the county, while sales are "down significantly from the past two years; we've seen a steady decline."

When asked if federal stimulus monies were helping Bartlett replied, "The 10 percent (up to $8,000) rebate on first-time homeowners purchase has helped. Most of our home in 2009 were due to buyers being able to utilize this incentive."

In terms of homes that were selling most in 2009, Bartlett noted the market was under the $200,000 range, adding these were mostly local residents buying.

Meanwhile, of unimproved land, Bartlett remarked, it "has been our slowest seller," adding, "We have seen some river front property sell at a good price but overall, it has been very slow."

Roupe reported the local office received $86,761 in total excise tax (deed stamp revenue during the 2009 calendar year, a $28,154.50 decrease when compared to 2008's total of $114,915.50. Total excise tax collection for 2007 was $218,000 while 2006 numbers indicate an excise tax total of $233,795.50.