My New Blog

®Great News from the housing market!

Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and an $8000.00 first-time homebuyer tax credit, according to the National Association of Realtors®. May’s increase was the first back-to-back monthly gain since September 2005.  Additionally, the number of foreclosures comprising the resale market has dropped.  Those are both very good pieces of news. (There is a link to the entire article from NAR at the bottom of this page)

It appears that the residential real estate market may have hit a bottom...at least for the foreseeable future.  The question becomes:  What does this news mean for people like you who have been thinking about buying or Lease-Purchasing a home?

I am not an expert on predicting the long term movement of the real estate market. Really, nobody is.  But based on the empirical data I’m seeing, I might be inclined to at least begin investigating a few things...

1st- A mortgage. Find out if you qualify for one and for how much. There are still 100% financing options out there with good interest rates. If you dont qualify for a mortgage right now, dont give up. Call us about our Lease-Purchase Programs. We can still get you a house of your own.

2nd- Talk to a licensed Realtor in your area about homes that you can reasonably afford. If you dont really know a Realtor®...call us, we're licensed in N.C. & S.C. and will answer your questions honestly.

3rd- Learn as much as you can about the NEW $8000.00 1st time homebuyer tax credit. ( go to: http://www.brianhagenrealtor.com/$8000.00firsttimehomebuyertaxcredit ) for all the info you will need to know.)

  In late 2007-2008 most people were not completely confident in their home purchases - simply because last month’s good deal might of became this month’s overpriced property. But, it appears we’re rapidly heading towards a point where this is no longer true.

Case study: Last week, a Buyer Client of mine wanted to buy a 3 bedroom, 2 bath home in the country with an acre or more of land in northern Union County. We looked at 8-10 houses and he chose 1 to make an offer on. After a bit of negotiating we got the house under contract for $15,000.00 LESS than the current owner paid for it in 2006! AND, the current owner is paying for all my Clients closing costs (Another $5100.00) The point is that there are GREAT DEALS on homes right now and when combined with the 1st time homebuyer tax credit of (up to) $8000.00 I can't think of a better time to buy a home in the last 10 years.

Here's the link to the NAR housing statistics article:

http://www.realtor.org/press_room/news_releases/2009/06/ehs_continue

You can do it, we can help.

Brian A. Hagen

Realtor®/Broker N.C./S.C.

Managing Partner

Lease Purchase Charlotte.com

World Properties International

980-522-2405