It’s not that Chanda Cossitt hasn’t felt the economic downturn, it’s that she has bounced back from it quicker than most. The 37-year-old Tupelo Realtor says she’s on track to have one of her best years in the business, with roughly $4 million worth of transactions through mid-May. That’s as much as she did during the entire year of 2008.
“I don’t know if it was the tax credits or low interest rates, but our business took a turn in mid-January, and so far it’s been great,” said Cossitt, who works for Tommy Morgan Coldwell Banker. “Our showings tripled, our contracts doubled.”
It’s not just modest homes that are selling, she said. Cossitt recently closed on a half-million-dollar house and said people are buying more than what they had originally planned because they’re getting great deals.
“It’s a buyer’s market,” she said. “And people are taking advantage of that.”
While housing markets crashed in cities like Las Vegas and Miami, Tupelo’s has remained relatively unscathed by the economic downturn. After a little lull last year, Cossitt said, it appears to have recovered.
“Our board of Realtors is doing a great job of advertising about rates and the fact that the local market is doing good,” she said. “Everybody would have to say they’re showing more and that there has been an excitement here.”
– Emily Le Coz