January 2010 E-Newsletter

Buy New Albany Real Estate Now or Wait?

There’s so much in the news that many people wonder whether now is a good time to buy.  It’s my thought that the winter time may see less competition and possibly offer better deals.  There are sellers who had their home for sale in 2009 who are very motivated to sell rather than face another year on the market.  Buyers will find that inventories are lower now than there will be 5 months from now, but they will also find that many buyers have dropped out of the market during the winter, leaving the homes for sale competing for fewer buyers.  

Everyone wonders if home prices have “bottomed out”.  And while I can’t say yes, they have or no, they haven’t, what I do know is that interest rates have hit a 50 year low during the past year and all indicators point to them rising in 2010.  We are also seeing some loosening of down payment requirements in the home financing arena making it much easier for buyers to trade up or down size.  

Finally, buyers have until April 30th to take advantage of the expanded home buyer tax credit (up to $8000 on homes up to $800,000 in value).  Call Tony or me for information about the tax credit or to discuss a possible move in 2010!  

Questions? Just Ask!

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New Albany Neighborhoods

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