The theme of July’s Rooster Booster Breakfast was an update on Owensboro’s economic conditions and DeMaio believes that the community is steadily on its way up economically.
“Owensboro is now a seller’s market,” DeMaio said. “Strong seller’s markets mean there is a good demand out there, home values are going up, and it’s better for everyone.”
DeMaio said there is a lack of inventory for buyers to find listings in the Owensboro area. He said to solve this problem he “needs more sellers to get off the couch and list their properties”.
Maria Hampton of the Federal Reserve said that Owensboro has “weathered the recession much better than Kentucky and the US”, and DeMaio agrees.
“We were pretty much recession-proof,” DeMaio said. “We have a very diverse economy with the school systems, city and county government, and the new hospital.”
DeMaio believes the real estate market is an integral part of the city’s economy.
“The biggest thing we do is put people in homes,” DeMaio said. “The homeowners drive the economy.”
According to his numbers, more people are moving away from the suburbs of Owensboro and moving closer to the center of town. This is mostly because of the newly developed downtown area and other city features such as the hospital.
DeMaio believe Owensboro is the perfect place to buy a home in the current economic situation of the state and country.
“When clients come from out of town, they are choosing between communities, and I’m trying to sell Owensboro,” DeMaio said. “But, it’s easy to convince people to move here.”
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