According to the California Association of Realtors latest report, Sales of new, single-family houses rose 9.6 percent in July compared with June, to a seasonally adjusted annual rate of 433,000 units, according to estimates released jointly by the U.S. Census Bureau and the Dept. of Housing and Urban Development. Sales of new homes remain 13.4 percent below the July 2008 estimate of 500,000 units.
As many of you are aware of, the real estate market is MOVING, after years of stagnation and falling prices. Most economists are saying we have “hit the bottom.” It certainly appears that way…..although it will be many years into the future before prices reach the highs we saw in 2005.
It’s still a tough market for those who purchased properties in and around the “peak.” But for those who have had their homes for quite a few years, there is still good appreciation to be had.
Now is an excellent time to access your situation. If you are a Buyer, this is an EXCELLENT time to BUY. You are buying at a time where prices are low and interest rates are still very attractive.
If you are a Seller, you need to ask yourselves a few questions to determine if this is the time to sell. If you will be buying a property after you sell, this can be a good time to sell because you will reap the benefits on the home you will be purchasing. If you have accumulated a nice gain over the past years, be grateful, for you have invested wisely. Just like the stock market, it will be quite a while before the Dow hits the highs of 14000 as it did in the past.
Many “First Time Buyers” have taken advantage of the $8000 tax benefit. Many Canadians are buying NOW as their dollar strengthens. Many others are buying at this time to take advantage of this market. You can too. Just give me a call. It’s as simple as that!
Would you like to make a comment on this article? At the end of each of these weekly messages, there’s a place at the end of each article for you to add comments. Just Click on “No Comment,” it will open up and you can write your comments here. It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too!
Brought to You By Your Favorite Realtor,
Nancy Hankin
www.PalmSpringsHomesAndEstates.com
