How Will the Stimulus Package Affect The Housing Market-and You?

Homebuyers: Part of the stimulus bill gives first-time homebuyers (anyone who hasn’t bought a home in past 3 years) who purchase in 2009 an $8,000 tax credit. Foreclosure filings decreased 10% in Jan. from Dec. 2008 and some sales in Dec. 2008 rose 6.5%. We will see prices at the lower end of the price spectrum stabilize and all the really great deals will be snapped up in the next few months. If you are thinking about buying, now is the time.

Home sellers: If you are selling in the lower price ranges you can expect to see increased activity and, if reasonably priced, you will get it sold very close to that price. If you are not at the low end of the market, and do not have to sell, wait a year or so, you will get a better price. If you have to sell now, price it right and get it sold now as we could still see a drop in value in the mid and high-end price ranges over the next 3 to 6 months.

If you want to talk further about the impact of this stimulus package, give me a call or drop me an email about your situation and I will give you my recommendation.

This is information applies to national numbers. For more accurate information on the Lubbock market please call or e-mail me. 806.441.9537 shannon@shannonhcole.com

Rent vs. Buy

At the bottom of the page is a rent vs. buy calculator. You can plug in the numbers to see the advantages of buying vs. renting. If you have any questions about the calculator please call me at 806.441.9537 or e-mail me at shannon@shannonhcole.com

Buying a Home?

Are you planning on buying a home in the near future? If so, be sure to go to the link below for home buying information. This site will give you information on the steps of buying a home, mortgage information, and other home buying material. You can also go to my website to search for homes for sale in the Lubbock area or to receive one of my special reports for home buyers.


Below is the link for the home buying information:
http://www.realtor.com/home-finance/buyers-basics/home-buyers-basics.aspx

My website:
www.shannonhcole.com