Monday, July 19 2010
Market Watch For July 2010
We now have results from June closings and as I suggested, closed transactions declined from April and May. Although June closings were almost 21% below May levels they were still slightly higher than the average for the preceding twelve months. I do not expect July closings to be significantly different from June. 2010 will be something of a mirror image of 2009 for closed transactions. The second half of 2009 was significantly stronger than the first half of 2009. I believe that the first six months of 2010 will be stronger than the second six months of 2010. The reason for this disparity in both years is the timing of tax credits. The initial homebuyer tax credit expired in November of 2009. The tax credits were subsequently extended and they expired in April of 2010. I do not expect any renewal of these tax credits.
The best news going forward is that interest rates are at some of the lowest levels in history. Since home prices are lower than they were a few years ago, and rates are great, you can buy more house with a lower monthly payment than at any time in recent history.
We have also made shopping for homes easier than ever. We just introduced Tuckermobile.com. This allows you to shop for homes quickly from your smart phone. Now you can find everything from anywhere, any time. Simply go to Tuckermobile.com and you can search by Street name, MLS number, zip code or any of several other options. You can also save properties you select. If you have signed up for MyFCTuckerEmge.com any saved properties you select on Tuckermobile.com will automatically appear on your saved searches. All of this is free. All of this is automatic. None of it requires a download and it gives you 24/7 access to the entire MLS system from your smart phone.
I can’t do anything about the temperature outside but I can help you shop from where ever you are comfortable. Give me a call if I can help with any of your real estate needs and as always I really appreciate referrals if you know of someone else that is thinking about buying or selling.
Wishing you a great summer and we look forward talking to you soon.