As Published in THE DAILY BREEZE Home Guide
NOW IS THE PERFECT STORM OF OPPORTUNITY
FOR BOTH HOME BUYERS AND SELLERS!
The worst is over. With Spring now upon us, the current local housing market is producing the perfect market for those seeking homeownership and those looking to sell.
"Buyers who waited for signs of a market recovery are encouraged by months of an uptick in sales, extended tax credits and improving economic news nationwide," stated Elaine Mallon, Broker Associate with Coldwell Banker. "Sales are up. Buyers have the confidence again to invest in the cradle of homeownership and are inspired by a short window of added opportunity."
The new confidence in the real estate market can be attributed to several solid factors:
1. Interest rates are still at historic lows but are expected to rise slightly during the year.
2. The Federal Homebuyer Tax Credits have been extended for a short period to April 30, 2010! The $8,000 first-time homebuyer tax credit was set to expire last Nov. 30 before Congress granted the brief extension window. Lawmakers also added a $6,500 credit for current homeowners, which has broadened the home purchase urgency to a wider group of buyers. (Restrictions apply).
3. Sales activity has consistently increased month-to-month, surpassing most market expectations.
4. Prices have bottomed out and are expected to rise, at a slow but steady pace, in the years to come.
"With the Tax Incentives expiring next month for first-time homebuyers (must be in escrow by April 30, 2010), we are seeing a new rush - and bigger pool of buyers -- eager to invest in dirt, not paper," says Elaine. "Strategic Sellers are taking note of the time-crunch to buy and putting their homes on the market now ahead of the late Spring/early summer selling season."
This is without question an exciting, opportune time to be a Buyer. "Through the ups and downs of any market, homeownership remains one of the greatest long-term investments," concludes Elaine. "The very best investments are made, like now, when you buy in the low. And, more importantly, you cannot live in your 401K."
Elaine Mallon is a licensed Real Estate Broker (DRE #01325954), a Certified Negotiator, Certified Relocation Specialist, and an Award-Winning Public Relations & Marketing Veteran. She serves HOME BUYERS & SELLERS from Manhattan Beach to the Palos Verdes & San Pedro Peninsulas, and can be reached directly at 310-544-8453 or online at www.CaliforniaMoves.com/Elaine.Mallon.
She is eager to help you with all your HOME BUYING & SELLING needs.