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Recue Package for the Housing Market

By Lisa Rozmarniewicz

Title Insurance with Capital Title/iTraining and Associates

March 03, 2009 01:03 AM

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/01/AR2009030101581.html?referrer=emailarticle

Read the article from The Washinton Post, dated 3/2/2009.

Several theorys as to why the housing market may not improve as quickly as the government think it might with the new 'stimulus' package are presented. For example, will buyers really buy now, if they think that if they wait a few more months, the prices will be lower? There seems to be no sense of urgency for home buyers right now.

It appears that the government tax credit to home buyers could possibly backfire. The tax credit is for first time home buyers only. Aren't these buyers the ones who are at greatest risk of defaulting on their mortgages?

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Pat Champion

John Roberts Realty - Eustis, FL

Call the "CHAMPION" for all your real estate needs

I think we need to be a little more positive-some of the buyers are starting to move off the fence. We have to be ready when they do.

Mar 03, 2009 01:28 AM

Thomas R. Martin Broker/Owner ICPM

Investors Choice Property Management - Sacramento, CA

Property Management the way it SHOULD be.

I have serious doubts that there are really enough 1st time home buyers left to kick-start the market again. If the government wanted to inject life into real estate, the tax credit should have been for anyone, investor or occupant.

Mar 03, 2009 01:35 AM

Julie Ferenzi

john greene Realtor - Plainfield, IL

I agree. First time home-buyers are the riskiest! I have actually advised buyers that can wait to wait, there will be plenty of people who can't. I'd love the commission check, but I'd appreciate their trust even more. I know home prices are going to decline even more (with pretty good certainty), but if someone asks I will tell them the truth, because the truth includes the possibility of missing out on some really good deals are out there right now. I arm them with the information and it's up to them to decide.

I think if there were better incentives to purchase, it might make me feel differently and I'd feel more confident advising clients of a great opportunity too. I wouldn't want someone to advise me to buy a house right now if the prices still haven't hit the bottom in my market...but maybe that's just me?

Mar 03, 2009 01:37 AM

Home Loan Search.Online

Home Loan Search Online - Newnan, GA

I think there is a bigger issue with qualified first time home buyers. There are reasons why some people rent.

Mar 03, 2009 01:40 AM

Recue Package for the Housing Market

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