Happy New Year everyone! Another year is at an end, another beginning, it’s the same every year, isn’t it? “Where did the time go?” Well, as usual, it just went for me, and as usual, I didn’t accomplish half the things I wanted to, or stick to all the New Years resolutions I wanted to , but the great thing about New Years is the chance to begin again, and I think this is a year that most of us can look forward to beginning again.
As far as the housing market is concerned, there is much to be hopeful about. Although the prices of homes had continued to slip in 2009, the last quarter was better and sales were up in most areas as well, and with all of the activity that is out there right now, I expect to see that continue. We may not be at the bottom yet on prices in some areas of the market, and everyone agree’s it won’t be a rapid comeback, but we should see improvements in 2010.
Just a reminder for those who are “waiting until spring” to list your home, you may want to contact your Realtor and get his opinion, but with the extension and expansion of the Home Buyer’s Tax Credit expiring April 30th, you may miss the buyers who are out there right now, and especially those who will be out there by the end of January when they start getting their taxes back, and will use that money for down payments, repairs, inspections, etc.. and don’t want to miss their opportunity to get an extra $8,000 in their pocket. Also, for those who have lived in their current ‘Primary Residence” for 5 out of the last 8 years, they can sell and buy another home and get a tax credit as well, so don’t wait and miss the chance to take advantage of these credits.
In closing, I want to say thanks to all my clients, colleagues and friends, who have made 2009 a great year, in spite of the circumstances. I am thankful for each and every one of you and wish you a most Happy and Prosperous New Year!