Posted by: Alan Brown in Tax Savings, Tax Benefits, Refinance, Recession, Real Estate Investment, Real Estate, Property Ownership, Preforeclosure, Mortgage, Market Prediction, Legislation, IRS, Investment, HUD, Homes on the Market, Homeowners Act, Government, Foreclosure, Financing, Economy, Buying Homes, Bank Owned, ARMs on
Oct 26, 2009
Buying opportunities, for those looking for bargain deals, are still good and should extend well into 2010 and 2011. Housing starts according to the Commerce Dept. have come in lower than expected for 2009.
One would naturally think, as home builders attempt to reduce inventory, that home prices would stabilize. To a certain extent they have stabilized albeit temporary.
First time home buyers who have been sitting on fences, automobiles and motorbikes are now out in force trying to take advantage of the $8,000 tax credit set forth by the U.S. government. Ironically, the tax credit is due to expire on November 30'th. This small flood of home buyers has temporarily created a high demand in low to middle income housing which in turn has created more competition among investors seeking cheap deals on foreclosures and HUD homes.
I recently came across this well thought out piece of writing from the late Dr. Adrian Rogers to whom I give my sincere thanks.
You cannot legislate the poor into freedom by legislating the wealthy out of freedom.
What one person receives without working for, another person must work for without receiving.
