Current Trends
10 Dec 2009 -- The information below remains generally accurate, but we are starting to see more positive movement in our
local real estate market. This is partially due to the fact that Congress and the President recently extended the
First-time Homebuyer's Tax Credit (currently in effect until April 2010). They also added a $6500 tax credit for qualified buyers regardless of whether or not
they are first-time homebuyers. (There are some limitations on this tax credit, so contact your REALTOR for more info.)
Additionally, I believe that many people feel that the economy is getting somewhat stronger, and that we are nearing the bottom with
regard to the recession. Whatever the reason(s), we are certainly beginning to see positive movement within our market, and
that is a very good thing!! So, if you have been thinking about buying or selling a home, now is a good time to make your move!
On a related item, many people I have talked to are confused with regard to the term "First-Time Homebuyer". A First-Time Homebuyer
is not just someone who has never purchased a home. You may be considered a First-Time Homebuyer if you have not owned
a home within the past three years. If you're not sure whether or not you meet the requirements for the First-Time Homebuyer's
Tax Credit or the Expanded Tax Credit, then please call a REALTOR!
Summer 2009 -- Greetings ladies and gentlemen. I just wanted to touch bases with you, and let you know what's happening in our market.
Overall, things here have been much better than real estate markets in other parts of the country. We were recently listed
as one of the "Safe Havens" for real estate by the Kiplinger Report. Also, our market grew by approximately three percent last
year. Not bad considering most markets were seeing declines rather than increases with respect to sales and overall growth!
With that said, things could certainly have been better here, too! Unfortunately, we've had what I would call a "stalemate" with regard
to some key areas within our real estate market. Specifically, because prices were falling across the nation, many people delayed listing their homes
because they were afraid the prices were going to continue to drop. Also, many prospective buyers have put off purchasing a home
because they thought interest rates and home prices would both continue to drop. However, prices are at the lowest levels in decades.
And, as I pointed out earlier, our market actually grew last year, and I believe that trend will continue. If so, that means that prices
will begin to go up and probably at a slightly higher pace once everyone realizes what's going on in this area. Additionally, I expect
that interest rates will start to go up, not down. The reason I believe interest rates will start going up is because of the increasing
debt our nation is incurring due to the borrowing and spending that our national leaders have been doing in an attempt to stimulate the economy.
If this "borrow and spend" trend continues, inflation will surely follow!
With this in mind, I truly believe that this is the ideal time to buy or sell a home! Interest rates are at or below five percent for
individuals with good credit scores and secure jobs. Also, if you are a first-time homebuyer, you may also qualify for an $8000 tax
credit if you purchase a home within the next few months!
It is a great time to consider buying or selling a home in East Tennessee! So,
what are you waiting for?? Pick up that phone and give me a call at (423)
895-6084, and let me explain what we can do for you!!
Contact Information:
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Phone: (423) 895-6084
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Shell & Associates Real Estate
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Office:(423) 543-2393
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308 West G Street, Suite A
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Fax: (423) 543-2135
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Elizabethton, TN 37643
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Email: gary.smith@tnrealtyagent.com
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Introduction |
East Tennessee Real Estate |
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All real estate information deemed reliable, but not guaranteed