This is the time to Buy and Sell

By
Real Estate Agent with Exit Realty-Realty Place Arizona # BR656751000

According to all market indicators, the first quarter of 2010 will have the biggest jump 

in existing home sales in the Plainview Old Bethpage area since the markets 

unfortunate down turn.  The government has been purposely creating programs to 

give buyers an incentive to purchase now. 

There are three reasons for this. 

 

 First: According to the National Association of Realtors, existing home prices in the 

northeast have dropped by 13% as compared to the same time last year.  This drop 

makes it more affordable for first time buyers to purchase a home. 

 

Secondly: Interest rates today are being held at an artificially low level due to the 

government action of buying Mortgage Back Securities.  As of March 31, our 

government intends to stop buying Mortgage Back Securities.  

 

And finally: According to knowledgeable economists we should start to see a steady 

rise in mortgage interest rates.  Ideally, this would result in the buyers motivation to 

purchase now, rather than later so as to take advantage of these low interest rates. 

This critical knowledge is supported by many respected sources, as shown below. 

 

HSH & Associates: 

rates will nudge closer to 6% than 5% 

Moody’s Economy.com: 

6 percent that sounds about right 

Washington Post: 

6 percent by the end of 2010 

Barry Habib: 

It could be as high as 6.5% 

Morgan Stanley: 

7.5 percent to 8 percent 

Taken from Steve Harney’s, Keeping Current Matters. 

 

 

The New York Times reported on July 27 2009 “If prices come down another 10% 

but interest rates increase by 1 percentage point, that would mean the same monthly 

payment today versus waiting.”

 A little known fact is that Federal Homebuyers Tax Credit, was expanded to 

included existing homeowners.  For more information go to:  

www.arthurhasher.com/taxcredit.  This amazing opportunity is set to expire on April 

30, 2010.  The government has stated that “there will be no renewal” of this 

opportunity. 

The Supply and Demand Theory 

Considering all of the factors above, the first quarter in the Plainview Old Bethpage 

real estate market is an amazing opportunity that should not be missed.  If you take 

advantage of the knowledge provided here, you would have your pick of the litter and 

the cream of the crop would be made available to YOU.  There is so much inventory 

to choose from, now is the best time to act while all the best the government has to 

offer has been made available.  

For sellers, NOW is the best time to get your home on the market.  No one would 

want to miss such an opportunity in this first quarter, with such highly motivated 

buyers.  The second half of the year does not look as promising for the existing 

home sales around country, or for the Plainview Old Bethpage area. 

After this first quarter, the government appears to be moving in a direction that would 

attempt to clear up the short sale and foreclosure debacle our country is 

experiencing.  This problem will be the subject of one of my many future blogs to 

come, so please return for future details on the subject of the United States serious 

Real Estate troubles.  Thank you for your time. 

Arthur Hasher 

Licensed Real Estate Agent 

Exit Realty Achieve 

-Editor Stephanie D. Hasher

Comments (2)

Esther (Essie) Cruz
Coldwell Banker Realty/Marlboro-Manalapan - Manalapan, NJ
Manalapan Marlboro, NJ Real Estate

Art,  wealth of information here---Thanks for sharing! I will have to bookmark and re-read at later time :o)

Jan 24, 2010 12:06 PM
David Tapper
Coldwell Banker - Burlingame, CA

I agree, it's a great time to buy. I'm not so sure it's a good time to sell unless you are buying up or have to sell.

Tap

Jan 24, 2010 12:07 PM