Stephanie's Blog

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Positivism in the air? Will 2009 be a turnaround market!

I'm optimistic. How can't I be, home values will eventually be on the increase again and I really do think we're close to that time. I can remember almost 2 years ago hearing that we were in it until at least 2009. After watching this video, I can see how this whole process really did need to take the 3-4 years it took to readjust.

 

WATCH THIS

 

I was one of the ones who took out a 7/1 ARM mortgage the summer of 2005, knowing it was the riskiest I wanted to get, but well worth the 5% I did get. Now I'm on the look out for the best time to refinance. It's like the stock market...how low will it go before we hit the bottom in this period of low rates, and isn't it just good enough if we refi and get lucky enough to get a low rate still? Sure, it will be hard to beat our 5% rate, but I think I'd be dumb to wait around for it as rates go back up.

As for the first time homebuyer's tax credit, this is great! I don't know if these buyers are aware of the actual benefits to them as a result of this. Now would be a good time to speak to an accountant to help with better understanding this.

I'm really excited to see what will come ahead in 2009.  I know a lot of people are having trouble right now, but everything had to adjust.  Prices had soared too high in the housing market to be sustainable, and still are in other sectors today.

 

Comment balloon 3 commentsStephanie Jacques • September 24 2008 09:05AM

Comments

I share your excitement... It's gotta turn around... thanks for the post

Posted by Annie Hart Cool, Cape Cod Real Estate Specialist (Sotheby's International REalty) almost 10 years ago

2009 is the year for me!!!!!!!!!!

Posted by Lewis Beynon, Triangle Real Estate 411 (Norris Team of Century 21 Triangle Group) almost 10 years ago

I agree, in some areas/property categories, there could be a "lift" in mid-2009, and in other areas, may take till 2010.     Real estate does reflect regional issues, too.     thanks for your thoughts.

Posted by Li Read, Caring expertise...knowledge for you! (Sea to Sky Premier Properties (Salt Spring)) almost 10 years ago

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