Good news is out there, and rays of optimism are breaking through the gloomy clouds. Sure, we are in the throes of some of the most difficult financial times in recent memory. However, American homebuyers and sellers are a resilient group. Combined with a variety of proposed stimulus packages, responsibility and a never-say-quit attitude, the St. Charles area housing market will survive and eventually thrive again.
According to the St. Charles County Association of REALTORS®, homes sales in September and October 2008 increased over the same period in 2007–9.7 percent up in September and 5 percent in October. Former Association President Keith McCulloh also noted that more than 3,800 homes were sold in St. Charles County during the first 10 months of 2008. These figures could get even better later in 2009 with some help from the federal government.
Federal Stimulus Package–What Does That Mean For You?
The recent activity in Washington D.C. points to some housing market relief. When the negotiations and fine-tuning are over, home buyers will benefit in the end. On the horizon are a variety of tax credit options, such as a 10 percent credit for the purchase price, up to $15,000.
Existing homeowners could be rewarded with tax credits too for using energy–efficient techniques. Adding insulation, energy-efficient windows, doors, furnaces and air conditioners may result in getting back 30 percent of the upgrade expenses, up to $1,500.
In the meantime, spring is coming soon, typically a time when families decide to relocate, and homebuyers are out there looking for a change of pace and a good deal. The deals are there, housing prices have moderated and buying or selling a home is still a reasonable dream.
Let’s make it local. Look in our own St. Charles County backyard. Our housing stock is solid, our neighborhoods are desirable and we are reinvigorated to help St. Charles homebuyers and sellers achieve their goals.
Continue to visit our blog for updates on the Stimulus Bill.