Market Conditions - June 26, 2006 by Carla L. Davis
Many small towns are taking steps to preserve the past, but it doesn't come cheap, with average homes prices and construction costs on the rise. The National Trust for Historic Preservation puts it best when they say, "The National Trust believes that the strengthening of America’s historic and older communities is critical to the future of our communities, and that improving housing is a key element of any strategy to revitalize in America’s older communities." Many homebuyers feel the same way, opting for buying an older home and restoring -- preferably to buying into a huge McMansion in the suburbs. Many older neighborhoods are nearer to the center of town, closer to jobs, universities, and cultural neighborhoods. And another great benefit -- there are special loans, grants, and funds available for those wishing to restore historic homes. Many townships and cities have ordinances and laws zoning certain structures and protecting the historic ideal. But as big businesses work their way into quaint towns, many laws aren't standing up to the pressure. The New York Times wrote last week about the city of Old Westbury, NY, a small town rich with stories of the past -- stories that residents try very hard to retain despite corporate pressure. So what would does it cost to have a piece of history? Falmouth, MA, is a quaint, New England town. As one expert report, it is "complete with church steeples encircling the tower green and a walkable and bustling Main Street." Inventory on the market has increased substantially -- by 32 percent -- though that still only leaves 24 homes on the market at this time. Prices, however, reflect the nation's fascination with things historic, as average listing prices ate $757,764. Homes are selling a bit slower than in the past -- but the past saw a record breaking year. Buyers are simply taking a bit longer to find their dream home. Fore more information on preservation, please visit the National Trust for Historic Preservation's website. | 
