A “for sale” sign stands in front of the home on 2nd Avenue that was featured in the first episode of “Home Town” season 1. (Photo by Mark Thornton)

One thought on “Fire hits first HGTV home

  1. One of the obvious realities of the real estate market in many parts of Laurel is that these older and often appealing classic houses are selling for fantastically low prices for a reason……..And many of them have been on the market for a long time….Before we bought a home in Laurel 3 years ago, we had looked at houses that had been on the market for way over a year. Our realtor even told us at the time that she could point out houses that were still for sale, which were off the market simply because they never sold…..So, when you buy a home in the older section of the city for say $120,000 and you put 50 to 80 thousand or even more into a major restoration, you might assume that it would automatically sell for the original price you paid, plus the renovation cost, plus a nice little profit….But in the current real estate market that isn’t necessarily going to happen, unless it is one of those very appealing special homes that can command higher prices even in a down market…..But typically, what’s going on now is that people are buying and renovating and finding out that what they have is a overpriced home in a under priced neighborhood. That’s why they sold for much less, in the first place…..If our economy improves, if a lot of things change, then obviously that changes the real estate market for the better. ….But its not here yet…….Hometown is a great show, and I’m sure it is making a difference in the attitude of many people considering buying an older home and remodeling…..But if recouping that investment and making a nice profit in the short term is something you’re having to face or it was your original objective, it isn’t necessarily going to be the reality you envisioned……..Lets all hope that change is indeed coming, in the not too distant future.

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