Vancouver Real Estate - Gloria Gomez Matthews

EXISTING HOMEOWNER TAX CREDIT and EXTENSION OF FIRST TIME HOME BUYERS

Well, it has passed both the senate and house, and President Obama is expected to SIGN it into law today, Friday, November 6th.

 How will this affect us?  I expect a stimulus of pent up demand to increase activity and push up prices slightly, but with the SHORT WINDOW, an overall economic recovery must also be underway.  There is data about that suggests this is TRUE, and underway.

IF you have been thinking of UPsizing, or DOWNsizing, this could be the perfect time, while prices are near a bottom, and INTEREST RATES ARE LOW.  As any recovery movings ahead, interest rates may and likely will climb, as well as pricing pressured UP.

So?  Do you want to appreciate in the house that you are in?  or the house that suits your needs for the next 10+ years?  In my opinion, this is an excellent time to REVIEW your housing and lifestyle needs for the future.  Clearly buying at the top has been problematic for many, and while real estate averages 8% over long periods of time it is subject to cyclical swings.

IF you are interested in SALES and PRICING in YOUR NEIGHBORHOOD, use the FREE  Market Snapshot tool:  MARKET SNAPSHOT

HERE IS A SEATTLE TIMES ARTICLE ON THE TAX CREDIT AND PRICE TRENDS:

http://www.seattlepi.com/local/411904_credit06.html?source=rss

ITS OFFICIAL:  Mortgage Daily NEWS:  http://www.mortgagenewsdaily.com/11062009_obama_signs_home_buyer_tax_credit_extension_will_it_be_effective.asp

 Come visit me at http://www.FelidaHomes.com or email me at matthews.gg@gmail.com

of course, I answer my phone too at 360-600-3042

Published Friday, November 06, 2009 2:59 PM by Gloria Gomez Matthews