Predictions for 2010
David J Edwards
recovery, illustrating we’ve come far from the pessimistic outlook
this time last year. Soft home prices, affordable financing conditions
as well as the government’s tax break targeted at the housing market
have contributed to providing the much needed boost to the housing
market. Solid gains in home sale activity helps to pare down inventory
to a healthier level, which in turn will likely bring more stability
to home prices.
The most recent Federal Reserve meeting indicated a more positive
outlook about our economic condition as they pointed to plans to reel
in emergency programs. Mortgage rates, which have hovered around 5
percent for most of 2009, are starting to climb again. Economists
expect these unprecedented rates to go back up as Fed’s program to
purchase mortgage-backed securities expires in March and private
investors are demanding higher returns.
According to Nar 2009 President Charles McMillan, “Even with price
declines in recent years, the typical home seller saw their equity
increase 27 percent.” NAR’s most recent Home Buyers and Sellers
survey reported that 87 percent of survey respondents consider their
home a good investment, and more than half see it as a better
investment than stocks. This indicates that Americans still see
homeownership as a source of steady long-term wealth accumulation.
Employment will continue to be closely watched and steps on the road
to recovery will likely continue to come one-by-one. Although
concerns remain, many experts are hopeful of a brighter year in 2010.
David J Edwards
Real Estate Agent & REALTOR
Edwards Real Estate Group
Keller Williams Realty Southeast Sound
Phone: 425-636-0296
Fax: 425-902-1899
E-Mail: Da...@EdwardsRealEstateGroup.com
Website: http://www.EdwardsRealEstateGroup.com
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The Edwards Real Estate Group specializes in Residential Real Estate
for buyers and sellers.