There are some signs that there is not much summer left, we have another month of great weather and then a month of good weather . . and well anyone who lives here knows the drill.
I have already been contacted by people who plan to sell their homes next spring and they want to know if they will be worth more or less than they are worth now. It is hard to say. Property values seem to have stabilized. If they are going up or down it isn't by much. Housing prices are affected by several factors including the unemployment rate which is at a 25 year high and climbing. We don't know if there will be a tax credit for first time home buyers like there is this year and we don't know what the interest rate will be.
Aren't you happy you came to my blog today and found so much information? The truth is no one knows what the housing market will be like in the spring at least not at this point. There will be some predictions. Some things to watch are the unemployment rate, interest rates and of course foreclosure rates. If they are all high home values will not go up.
I have been reading that the recession is winding down. That is certainly good news but I don't believe it.
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I think we can be fairly certain that most homes will be able to sell for more today than they will in the spring. High foreclosure rates will continue for a few more years. The $8K credit will go away, and hopefully not come back. The Fed will probably raise interest rates by then. This plus plenty of other stuff should continue to exert downward pressure on property values.
Wow! Not sure why Michael wants the $8K credit to go away and not come back, but it’s having a good impact on home purchases in my market and I like it!
But that’s not why I’m writing. I just want to know what the plant/fruit in the picture is. My wife and I have some guesses, but it’s not anything that grows in Florida and it’s gorgeous. So, Ms T, please let me know! Thanks
I totally disagree with Michael. I have so many new buyers wanting to purchase their first home because of this $8k credit here in the Dallas Real Estate market. With this being said this also helps our economy.
I don’t like the credit for a few reasons.
One I don’t think the government should place incentives to purchase homes. Government policies to raise home ownership rates are part of why we got into this mess in the first place.
Second I view taking advantage of the $8K credit right now is basically spending a dollar to save 50 cents.
I can see some value in it to slow the decline in home prices. But we will end up at the same place no matter what. It is just a matter of how long it takes to get there. An argument that the faster we get to the bottom the better could be made.
What a beautiful picture! I love the colors.
Hi,
I have lived in Saint Paul for the last 5 years and now I am looking to move to Iowa city for work. Do you know a good realtor in Iowa City?
Thank you for your time!
Hi Maxine,
I am a Realtor from Iowa City. I am the 2007 Gold Star Award Winner for Outstanding Professional from the Iowa City Area Association of Realtors.
for more information please visit my website http://www.michaelmceleney.com.
Cheers,
Michael