Believe it or not I actually own a crystal ball, however I’ve found over the years that it doesn’t work very well. But we can identify several factors that contribute to the direction of the housing market, some encouraging, some not so good.
Let’s start with the negatives: No surprise about the first factor, unemployment in our region has a great impact on our market. Not only are the unemployed removed from the marketplace, but some others who have jobs are wondering whether they could be next, and fear is a serious de-motivator. Time will tell whether our local economy and even our political environment will take us in a direction that will catch us up with many of the nation’s improving markets.
There are quite a few factors on the positive side. Interest rates remain at historically low levels, and despite what you may hear, mortgage money is available. There has to be a pent up demand following a few years of market declines, and many prospective buyers are beginning to come out of hiding. Housing affordability is the best it has been in years as prices have declined. A tax credit of up to $8,000 is available to first-time buyers who close by November 30th, and it is possible that the program could be extended. (But don’t wait!). Unit sales have improved in recent months compared to the previous year, and our total listing inventory is declining, both good signs that we are headed back in the direction of a “normal” market (whatever that is). Quite simply stated, never in my 40 years at The Danberry Co. have I seen a better time to buy than right now!
You found your way to this page, so I know you can find your way to one of our professionals. We’re waiting to serve your real estate needs!
November 30th. Sounds like a long way off, but it’s not! In fact, we are getting dangerously close to the deadline to have a home under contract and still be comfortable closing in time to take advantage of the $8,000 tax credit for first-time buyers. Remember, “first-time” is defined as not having owned a home in the last 3 years.
Why are we posting this alert in September? Lots of reasons, including the fact that all mortgage lenders, appraisers and title companies have layers of new federal regulations to deal with, all of which add time to the closing process. Also, if Congress doesn’t extend the tax credit program, we expect a glut of closings with true deadlines to compete for closing times at title companies at the end of November. Complicating the work calendar at the end of November is Thanksgiving on the final Thursday, many offices closing on the next day, then a weekend leaving only Monday the 30th for all those buyers trying to take advantage of the credit.
Moral of the story: ACT IMMEDIATELY. For details of the tax credit program, call a Danberry Realtor today!
Hello world!
The all new http://www.danberry.com site is going live Monday, September 14th and we would love your feedback. The Danberry Co. is the newest member of the Enterprise Network on the Active Website Enterprise Platform, allowing us to reach more online customers and serve their business needs throughout northwest Ohio and southeast Michigan.
Features and benefits to consumers: No real estate site in the region offers buyers and sellers more useful tools and features, such as:
Searches of all property listings of the Toledo Board of Realtors and the Monroe County Association of Realtors.
Advanced Mapping Technology through Google Maps allowing you to draw your own polygon boundaries; plot points of interest such as schools; view properties from various points of view (traditional map, satellite, or from the street)
Individual Property Websites
Featured properties
Social Networking
Blogging
Mobile websites, viewable on Internet capable mobile devices
Craigslist Ad Generator
Individual Realtor Websites
What would you like to see?
As the region’s premier real estate brokerage and market leader, we believe we are uniquely positioned to offer consumers every possible real estate service. That of course includes information, so please let us know if there are topics you would like to see addressed in this blog. Or comment on the site, or offer any other suggestions on how we can help you. We hope to hear from you!
