Welcome to the bottom of the housing market. I didn't say this -Experts did. But have we really reached the bottom of the housing market? Well U.S June existing home sales up 3rd straight month - MarketWatch. Last time I believed this happened was in 2005. And most of us who were real estate professionals in 2005 knew what the real estate market was back then. I think that we have reached the bottom of the housing market in some areas but not every real estate market has fully recovered.
But is this good news for home buyers in DC or Prince George's County MD? Is this good news for home owners in DC and Prince George's County Maryland? DC and Prince George's County MD Sellers? Or is this bad news for home buyers and/or sellers? I think this is great news for both buyers and sellers. I hear a lot from home buyers who are looking to buy a house in DC or Prince George's County Maryland how they are not ready to buy a house yet because they still are waiting for prices of houses for sale to drop.
Maybe with three straight months of housing market sales increase and the housing market finally bottomed out in some areas,this would bring out more home buyers in DC and Prince George's County Maryland. Also home owners who are not sure whether to put their DC or P.G County Maryland house on the market will finally do so now. While we are not out of a recession yet,we are recovering Barack Obama - US Economy Is Recovering. So people who are looking to buy a house in DC and P.G County MD,this is a great time to buy a house if you want the $8000 first time home buyer tax credit for DC and P.G County Md Home buyers before 12/1/09.
Read this story that inspired this blog Welcome to the bottom: Housing begins slow rebound (AP) - Yahoo ...
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Great post. Another thing to remind Buyers hoping to get the $8000 tax credit is they must CLOSE on those homes by the deadline. Right now it takes 45 days or more to go from under contract to closed. The time to buy is now.