I have a quick update on the current housing market!! Guess what? it is good news!!!
The word is spreading....
** Suze Orman (Financial Guru) is telling everyone to invest in REAL ESTATE!!!
** On this morning's TODAY show, a financial expert stated that he believes this spring's selling season will be "THE BEST SELLING SEASON IN 3 YEARS!!"
** The housing crisis is widepsread in America, but . . . out of the thousands of counties in this country just 35 counties in the entire US are actually in a depressed market!
* Over 90% of the people in this country are PAYING THEIR MORTGAGES ON TIME!!!!
** Through out the U.S., over 4.9 MILLION HOMES SOLD IN 2008!!
** The market in our area is UP SIGNIFICANTLY!!! As of January 2008, there were 338 open escrows. As of January 2009, there were 950 open escrows!
** The largest demographic currently purchasing homes is FIRST TIME HOME BUYERS aged 24-34. Just a few short years ago, only 8% of people in this group could afford the median priced home. Now, thanks to favorable market conditions, 59% of 24-34 year old first time home buyers can now afford a median priced home!
What does this mean for you? If you are a buyer - things are better than they have been for years! Coupled with the federal and state tax credits, you are actually getting PAID to buy a home! This has never happened before! And, if you are a seller, HOLD ON tight!!! The market is just getting started!! The current upswing will continue as incentives are great, interest rates ARE VERY LOW and inventory is plentiful!!
BUY - OR - SELL NOW AND LOOK SMART LATER!!!
AS ALWAYS -- I AM HERE TO HELP!
HONESTY, INTEGRITY . . . SERVICE YOU CAN TRUST!
STACY DOVER
1 comment:
Stacy, I am all over the bandwagon telling my clients "waiting for the bottom of the market this Summer or Fall," may be a mistake. There is no guarantee rates will stay here and with the bidding actually taking place on listings, did we hit the bottom? I hope people don't outguess themselves. The vast majority of transactions are FHA loans in the Glendora area.
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