GOOD NEWS EVERYONE!! The Feds have decided to retain (and not sell) the 1.25 Trillion in securities that they are holding. A sale of those securities would increase rates in a fast way. Other news is that another wave of foreclosures are upon us which means that these homes need to sell. If you are a realtor, now is the time to get a hold of those properties and put them on the market.
64% of Americans feel that now is the time to buy. With rates still historically low and the fact that home prices have dropped to the point that it makes more sense to own rather than rent, we should see a nice uptick in purchases in the coming months. Combine that with the fact that Home Depot is hiring for the first time in 4 years we are all hoping that the market is improving.
Don’t forget that this perfect time to buy may be short lived. As the economy improves home prices and rates will climb. If you are a buyer, get out there and take advantage of the tax credit. You need to be under contract by the end of this month. If you are a realtor or attorney, educate your clients. They will be glad you did.
64% of Americans feel that now is the time to buy. With rates still historically low and the fact that home prices have dropped to the point that it makes more sense to own rather than rent, we should see a nice uptick in purchases in the coming months. Combine that with the fact that Home Depot is hiring for the first time in 4 years we are all hoping that the market is improving.
Don’t forget that this perfect time to buy may be short lived. As the economy improves home prices and rates will climb. If you are a buyer, get out there and take advantage of the tax credit. You need to be under contract by the end of this month. If you are a realtor or attorney, educate your clients. They will be glad you did.
Market updates to follow
Thorsten Bernacki
Preserving the dream of home ownership
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