Home Builders Has Largest Up-Tick in Five Years
The National Association of Home Builders index rose to it's largest monthly increase in the past five years. This is great news, but it still shows that only about one in seven builders thinks business is good or fair.
The reasons behind this real estate market are really no secret: mortgage rates near all-time lows, both Federal & California state home buyer tax creditsand the optim real estate buying season.
Here in California, besides the $8,000 first time home buyer's credit, California has a 5% (max. $10,000) new home credit. This combined with home mortgage rates around 4.75%, all make for a very appealing reason to get a home of your own. San Diego Realtor
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3 Comments
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Buying a home is a long term deal. I bought 10 years ago, value has doubled (a couple of years ago I could say tripled), and in 5 years house will be paid off. No more mortgage! Try that with a rental! Yeah… commute sucks.
San Diego California real estate agent
Compare the value of Real Estate in Palo Alto to the DotCom stocks … Real Estate will start ticking back up in the next year or 2 … Anyone think Priceline.com will ever be worth a tenth of its former high?
Tijuana dentist
Everyone likes to talk about the foreclosures as if it’s a bad thing when the reality is that it’s an incredibly good thing. All the bad loans inflated the market well beyond what it should have been. As these people default on their bad loans the price of housing corrects, as it should, and maybe the rest of us get to buy. This story is good news and it should be reported as such. Or, would we all be better off if the government steps in and inflates pricing again.
Los Angeles lawyers