Tuesday, December 29, 2009

Real Estate Recovery - St George Real Estate

Real Estate

National real estate sales showed signs of recovery from November sales. The National Association of Realtors said real estate sales rose 7.4 percent. This was more than expected. Pete Flint with Trulia.com reports, "Things are stabilizing".

Now of course, the new home buyer tax incentive that was first reported to end in November helped boost these numbers. None the less, the government initiatives, like this program that is now extended to even existing home owners who relocate, has helped to stabilize things. Even so, the high unemployment rate of 10% with employers continuing to cut jobs, is not helping, especially since 14 percent of homeowners are now struggling either to make their mortgage payments or are in foreclosure.

The Federal Reserve recently pledged to keep interest rates low so that the recovery can gain traction. President Obama, after meeting with community banks recently said that businesses will now be able to start growing and hiring again if they can get the investing credit that they need.

Homeowners who have lived in their current properties for at least five years can, now claim a tax credit of up to $6,500 if they relocate. Buyers must sign a purchase agreement by April 30 in order to qualify.

St George Real Estate

In Utah or the Salt Lake area, unemployment rates continue to be lower than the national average. The economy, for the most part, continues to be strong. The St George Real Estate Market continues to stabilize even though the inventory levels involving Short Sales and Foreclosures remains relatively high. Some consensus among Realtors and a lot of buyers seems to be that the exceptional deals are almost gone while we enter the longer phase of good deals still being available. This window may be shortened given the fact that interest rates are slowly, but recently steadily, seeming to rise.

Real estate has traditionally over time held its value, and if you are like minded in thinking that now would be a good time to get into the St George Real Estate Market, than for heavens sake, give Brian a call today at 435-634-5479.

1 comment:

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