Impact of change in the real estate market
I am beginning to see a glimmer of hope through the cloud of crash and burn playing out in the news. I made a list of what I was seeing and then quickly discarded it. Could one small voice yelling the sky is clearing make a difference? Well today I have reconsidered and here is why.
1. Based on data from the the U.S. Census Bureau. a typical family today can purchase a home for $20,000 less in household income and save $500 per month on principal , interest, taxes and insurance. This means that house that you said you would get one day, you could get it today.
2. More people can afford to buy a house today
3. We are about to enter the traditional busy season for real estate and getting calls from people looking to buy as well as those looking to rent and buy later.
4. Interest in the $8000 tax credit. The visitors to www.federalhousingtaxcredit.com has increased.
5.Homes are priced very competitively and more are coming on the market everyday
6. Expansion (more jobs) by some companies. HInt, Hint. Katy, Texas!!
7. Banks that didn't particpate in the present situation, are letting us know they are ready, willing and able to make loans to credit worthy applicants.
Ok this is all I can think of at the moment but consider this, even small signs give hope. Hope leads to increased trust and consumer confidence and when that happens the economy begins to change. Every market is different therefore some will start showing signs of change quicker than others. Stop focusing on the bad things that are happening around you. Ask yourself, what can I do now to allow my family and I to survive until change is completed? Everything around you is temporary. Even the depression ended and the circle goes on.
Sometimes the simply things confound the learned.