LOOKING, BUT NOT BUYING, YET

05.14.09

Continuing on the theme of the last column, good weather and the "good feelings" that come with Spring continues to have people out and about, looking at real estate.

Some major discounting has begun at the higher price levels, but the jury is out as to whether or not this will result in sales of homes in this category. There is no question that most people are nervous about their long term financial "health".

One can feel a "pent up" desire to own country property, or a first home. For first time home buyers, there may not be a better time to make that move if there is job security. For second home purchasers, it is a bit more complicated. If they have not owned a primary home, the purchase tax credit can be a big lure along with excellent financing rates currently available. Rates did move up a bit last week but are still historically low.

It looks like "we" in the real estate business have to take things one-week-at-time. Forecasting further out will just get us into trouble.

©2009 R. Leech features.