Monday, March 28, 2011

Home Sales Rise in February!


Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales. >Economists had expected the index, which leads existing home sales by a month or two, to fall 1.0 percent after a previously reported 2.8 percent decline.

This is especially good news from everyone's perspective. The spring market in real estate, generally the best time to get a home sold, is February through July 1. A drop in home sales in February would be an indicator of a slow housing recovery in a thought to be good time to sell.

When thinking of selling or buying, consider this: If your home has lost $50,000 in value, most likely the home you'd like to purchase has too. The benifeit to this is lower property taxes. The home you are purchasing will have a lower market value, meaning lower property taxes thank you would have paid 5 years ago.

Also interest rates are in the 4.5% fixed for 30 year range. This means thousands of dollars saved over the life of your loan verses buying 5 years ago.

Call me or email with any questions or if you'd like a FREE MARKET ANALYSIS, I'd be happy to help!
~Joe Koltes