Finally, the Administration and Congress has decided to get to work on improving the economy. They are going to be doing many things for the creation of jobs in America. What took them so long?
They have been spending all of their time and energy on pushing for or opposing Government controlled Health Care. Thank goodness they have at least partially seen the light and are backing off to rethink many of the negative inclusions in the current bills up for a vote in the Senate and the House. Since the Government’s lack of oversight on Real Estate Finance in large part created the Real Estate housing bubble and the subsequent bursting of the same, they should do all that can possibly be done to fix it.
Low interest rates on long term fixed rate mortgages are being offered. Attractive tax credits are possible through April of 2010, not only for first time home buyers but also for existing homeowners who have owned their homes for 3 consecutive years out of the last 5 years. Spring is on the horizon and the inventory of available properties is high. These factors provide excellent incentives for buying NOW. Those who wait will pay higher prices and higher interest rates.
Sellers can benefit also with the increase of ready, willing and able buyers. During the coming months, consumer confidence should grow as the state of the economy improves and the unemployment rate declines.
It’s the best time to buy and sell Real Estate that we have seen for many years. Those who take advantage of the recovery will profit in many ways.
Home ownership is still the best investment that anyone can make. When a person owns their own home, they have a sound investment, a tax deduction for interest paid, and may remodel, improve and/or add on, and at the same time, build up equity.
Those who hesitate will most likely regret it. “Those who snooze will lose.” Call your Realtor today and get the jump on the recovering Real Estate Market.
McCraw Real Estate Inc.