What tax Stimulus! Buyers keep on buying!!!

The Fargo Moorhead area has not been affected by any slow down or changes in buying patterns even since the tax stimulus has been passed.  The area has ample amounts of inventory and numerous buyers looking each day.  Maybe a strange pattern but most of the people looking now, didn't pressure into over priced homes to get a quick buy on an easy $8K with $10K worth of work to do in the homes.  Call the people frugile in this area, but they keep the market running strong. 

Nothing new to post in terms of different styles of marketing or anything different, the area just seems to keep taking its 7% ROI each year and not getting greedy by any means. 

One thing we do and will notice now, is the appraisals that have come in and still are closing through the end of JUne, will noticeably bring higher appraised values with all of the multiple offers that were going on, which gave max prices on homes, which in turn brought up the appraised and market values of the homes.  So that may be one of the good things that came out of the deal, which is raising market values but we will also see taxes increase on homes with the increase in values, which is an out of pocket increase and money going back to where it was given out from.  So an underlying sight never seen was increased taxes from the tax stimulus, increased home values, and now the next step will be selling homes at a higher value in the future due to the help of the quick stimulus jump, as I just hope we don't jump too high and return back to the situation we were in 5 years ago, but again, our terrietory says bring on the 7% return annually vs. the 25% return for two years and then a haven of REPO's which the rest of the country experienced.  Amazingly we only had a 4% foreclosure ratio in the FM area, which may be the lowest in the country, but I assure you, there is alot of Foreclosures still yet to come.  Some of the peopple that got the 8K may have jumped too quickly and over paid for the homes not on paper but by there offers and when they find out there upside down in 2 years, get ready for a re run of the legwork we just overcame.  REFY's coming up....!