Are We There Yet!
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Signs of a Bottom? |
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4/9/2009
The time to buy a home may be now! With the Obama administration's economic stimulus plan now in place, we believe that consumer confidence is finally on the rise. We're already seeing the initial signs of that with increased open house traffic, buyer inquiries and calls to our office. Some experts are predicting that with the help of the $8,000 first time home buyer tax credit, the increase in conforming loan limits and the new preventative measures against foreclosures, we may reach the bottom by the middle of 2009.
Knowing this, now is the time to share this promising news with you if you're a potential home buyer or looking for investment property. We're also seeing another sign of a bottom for housing, consolidation. Pulte Homes is buying another home builder, Centex. When homebuilders start to buy each other out, it's a sign that they think valuations are attractive and the down-side is limited. It's also a sign that at least some of the home builders are healthy enough to make moves. This particular acquisition by Pulte is even more interesting because Centex owns a lot of land in Florida and California - two markets that have struggled the most and have had very high rates of home foreclosure. We strive to keep you informed so you will know when we may be nearing the end of this challenging cycle in California real estate and if you are considering buying a home or other real estate, now may be the time. |
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