The Daytona Beach market has seen increase activity!
The $8000 tax credit, low interest rates, and REO Sales have all played a role in the increase. Less obvious is the fact that many people that are not eligible for tax credits are buying into a very low point in the market. There are those that feel we have stabilized to some extent, and buyers are less hesitant to purchase. More importantly, sellers have come to realize that they will need to compete with distressed property if they want to sell.
Some interesting reads that I wanted to share: Diana Olick at CNBC has some very interesting views on the Housing recovery in her Realty Check Column. Click here to see why she feels that the housing recovery is at a crossroad. Many of my customers considering a short sale of their home have concerns about their credit once it is completed. For many, the effect of doing nothing at all is far worse than the short sale.
I found 2 articles on Bankrate.com that relate to Walking Away From A Mortgage and Making Payments on an Underwater Mortgage .
Click here to read an article from Reuters details why some believe that The Fed will need to raise rates sooner than many believe it should take place. I will stand by my opinion that a short sale now may pave the road to a brighter future. If you are in this dilemma, call me for a free in home consultation.
Keeping an eye on the markets for you is my business. Please keep those much appreciated referrals coming in.
If you know anyone purchasing a home, selling a home, or refinancing a current mortgage, I am a home pricing specialist.
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