When It Comes to Chicago Real Estate…It’s a Buyer’s Market
February 5, 2010
It is a buyer’s market when it comes to real estate. To be a buyer the conditions could not be better. Low interest rates, home values and inventory all point to buy, buy, buy. The only thing standing in the way is money, but if people can get money and they are in the right place at the right time, buying real estate is a great idea.
If the real estate market were a car the first time home buyer would be in the driver’s seat. Not only to first time home buyers get to take advantage of low mortgage rates, low home values, but they also don’t have to sell a home before they buy a home. There are a LARGE inventory of homes for sale in the Northwest Suburbs that you can take a look at.
There may not be a better time to be a home buyer, especially a first time home buyer, for a long time. The first part of 2010 displays ideal conditions to get out there and start looking, and not to mention the $8,000 credit that is available for First Time Home buyers.
Real Estate is Looking Good Today
February 5, 2010
The real estate market has been all over the map, today sales figures are looking good
Up, down, sideways, back and forth, it sounds like a game of hopscotch but is actually the way the economy, recession and real estate market have been moving. Mastering what is going on has had experts and professionals confounded, wondering how we can all come out ahead of the game. There is one aspect that most can agree on, good news is great to hear.
Today’s headlines show that real estate contracts are up in volume. The good news for housing affected stocks, as they increased in price. Some believe that the Spring buying season is starting early. December is rarely, if ever, thought of as a Spring month but December showed that the Pending Home Sales Index is up over 10%.
There is no doubt that the real estate industry is faring better than a year ago. To continue coming out ahead job growth needs to improve, interest rates need to remain low and consumer confidence has to continue growing. So far 2010 is looking better than 2009 and hopefully real estate sales will continue to rise.
Click here for an article at Yahoo Finance about good news in the real estate market and its effect on the stock market.
Sourced from: Kinetic Content Library
Pending Home Sales Stabilize…
February 2, 2010
Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.
The association also adjusted its economic outlook for 2010 and 2011, and projects that existing-home sales will rise from 5.19 million in 2009 to 5.66 million in 2010 and 5.7 million in 2011.
Based on contracts homebuyers signed but not yet closed in December, the association’s Pending Home Sales Index increased 1 percent, to 96.6 from 95.6 in November, and rose 10.9 percent from December 2008, when the index was 87.1.
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