When March arrives it frequently brings the windy season along with it. I can remember when I was a young boy and my parents would take me kiting. Boy, does that brings back a lot of great memories. This year the March phenomenum seems to carry the quickly moving change theme in it's wings. Unfortunately for most of us, the market does not seem to like the direction of some of the proposed changes. But how easily the real estate market can be impacted by proposed changes. I will briefly touch on just one of them. What we need to see in the market place is the mortgage deduction to remain free from political compromise. In our free market system, if the home mortgage deduction is an accross the board principle that is available for everyone, then a mortgage deduction is a surety or a foundation for the concept that if you invest in a home then you can surely deduce the amount of interest that you pay on your principal. The mortgage deduciton must remain a tax deduction equally available to all....That means no discrimation by economic status! This principle provides a strong incentive for all people to invest in home ownership. And of course, home mortgage interest deductibility provides a healthy influence for our society.
However, if a policy were to arise, that would state that certain people in a specified economic category would lose some or potentially all of their interest on principal, then....it would obviously follow that you could deduce that type of negative idea would promote a very damaging new direction for the housing market. In other words, NO ONE COULD BE ASSUSRED THAT THEIR INDIVIDUAL INCOME LEVEL MIGHT NOT SEE THEIR INTEREST DEDUCTABILITY IN PERIL! This is just one of the reasons for some of the continued doubt or lack of confidence in the housing market. Of course there are many other factors.
However, if you are looking for a place to settly down, and have cash or are qualified by a lender, then for you this is a great market! In the Green Valley, Arizona market, between 2007 and 2008 we had 1009 sales in our local MLS. Within the same time period of 2008 to date in 2009. we have had 735 sales in the Green Valley MLS. This is about a 28% difference. The availability of new housing also provides a great opportunity for homebuyers to our area. We love this area and look forward to helping any of you that are looking for a great place to live! Visit us at our wesite: www.greenvalleyazsearch.com
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