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Critical Next 100 days in the Housing Market

Published On: January 15, 2010

The Views expressed here are the opinion and only the opinion of the Designated Broker Tom Peterlin. Any informaton gathered and provided from resources such as the Arizona MLS is considered to be approximate in nature. It is strongly recommeded that Buyer & Buyer's agent and Seller & Seller's agent to verify any information

The stock market rebounded to levels from March of 2009 to the end of the year in which investors who stayed the course and did not bail out of the market were able to recover much of what they lost in 2008. The bull market was alive and well. What's interesting is that most of the market was bearish from the beginning of the year which means that most prognosticators were wrong in predicting the future outcome of the market in 2009. 2009 was a vey bullish market.

Will the housing market be the same way? Many experts feel that housing is still at least 1 or 2 years off from making dramatic improvements. Certainly, the governement is trying to do their part to summon a rebound with tax credits and pumping money into the economy. Much will depend on what happens in the creation of jobs for 2010 and the ability of the average person to be able to make their mortgage payments to stay in their home.

With the $8000 tax incentive of 2009, there was certainly an improvement in the housing market sales over 2008. Now the question is will the two two tax credits of the $8,000 1st time home buyers and the $6500 tax credit for people wanting to purchase who have lived in their home 5 out of the last 8 years ( Property must be in escrow by April 30, 2010 and close before July 1, 2010) be enough to create some momentum to get the buying pubic off the fence and back into purchasing housing? The aswer is in front of us in the next 100 days.

http://www.century21seago.com/HowsTheMarket

Please call me at 480-703-1414 or email me back at tom@c21seago.com  with comments or to request more information.

Best wishes,

Tom Peterlin

Century 21 Seago, Inc