West Chester OH Real Estate Outlook 2009

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Real Estate Outlook: What’s in Store for 2009?

What will the new year bring for housing and real estate? It’s easy to look at all the negative economic news in the headlines and say – there’s no sign that 2009 is going to be any better than 2008.

But here’s a different perspective to consider from one of the country’s veteran financial analysts — Richard Bove of Ladenburg Thalmann, an investment banking company.

In a research report issued late in December, Bove said he sees a positive dynamic taking shape in the current cycle. The government has intervened aggressively in the markets to push interest rates down — most notably in the home mortgage sector.

Though it takes awhile for low-cost money to begin having its effect, Bove said he expects “housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase.”

Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration — and there’s a good chance we’re going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

Already there are positive signs of the turnaround Bove predicts…

Read the entire article in my monthly real estate newsletter for residents of West Chester, Liberty Township and Beckett Ridge.

Wondering about the value of your home in today’s market?  Request a Free Market Analysis.

If you think now is the time to begin your search for a new home, start by checking out my Feature homes for sale and then search the MLS, all on my website:  www.LowryTeam.com

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

West Chester & Liberty Township, Oh Real Estate: Housing Stimulus Possibilities

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Fix Housing First Coalition Seeks To Revive Economy

The National Association of Home Builders (NAHB) is spearheading Fix Housing First, one of the largest coalitions of housing advocates ever assembled in the United States, to push for a housing recovery plan that will revive the economy.

  “If we are going to successfully pull our nation out of recession, we must address housing first,” said NAHB President and CEO Jerry Howard.  

Fix Housing First, which consists of more than 600 organizations, home building companies and manufacturers continues to add new members on a daily basis, is pressing for a major stimulus package to stem the decline in home values, stabilize financial markets and reignite consumer demand. To get the economy moving again, the coalition is urging Congress to support enhancements to the home buyer tax credit and provide below-market 30-year fixed-rate mortgages for home purchases… 

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

It’s A Great Time To Buy A Home In West Chester And Liberty Township, Ohio

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It really is a great time to buy a home.  Why??

Here are 6 reasons why now is the time to buy a new home in our area:

1.)  There is a great inventory of homes for sale right now – the selection is fantastic.  There are many great opportunities.  You can search homes for sale on my website:  Search homes for sale in West Chester and Liberty Township.

2.)  Interest rates are terrific right now.  As of today (10/23/08) a thirty year fixed rate mortgage is 5.80% with no points.   How low is this?  Consider that 18 months ago the rate was 6.49% with no points.  Keep in mind though, rates will not stay this low forever.

3.)  Owning a home is one of the best ways to build wealth.  When you are buying a home you are building equity and adding to your assets.

4.)  Tax breaks.  Owning a home provides great tax benefits including deductible items such as mortgage interest (both on your first and second), PMI or private mortgage insurance, and real estate property taxes.  Be sure to check with your tax professional.

5.)  If you are a first time home buyer you can take advantage of the first time homebuyer tax credit.  You can read more regarding this terrific opportunity in this recent post on my blog.  First time home buyer credit for West Chester and Liberty Township homebuyers

6.)  You can’t time the market.  You will never know when home prices have hit bottom until sales and prices have begun to increase. Buying a home now ensures a good price and good rate AND a piece of the market before our next major upturn. It is a buyer’s market now.

Are you a first time home buyer looking for more information on buying a home?  I am happy to help!

Are you a current homeowner thinking of moving up to a larger or newer home?  Email me for more information on our Guaranteed Sale Program.

Check Out My Feature Homes For Sale!