Muntjan Junction

Real Estate at the end of 2009 ended on a positive note. The Real Estate Market is showing signs of recovery. Real estate sales were up over 7% last month for sales of existing homes. This increase was due mainly to the First-Time Home-Buyer’s Tax Credit which was due to expire, originally, on November 30, 2009. Low interest rates and low home prices have also been a boost to real estate sales.

It is anticipated that interest rates will start to rise, hopefully, stabilizing at about 5.2%. Reports from the Wall Street Journal say that Ben Bernanke himself, Federal Reserve Chairman, recently locked in a refinance loan on his home. This is a possible indication that the current rates are the best that we are going to get.

Data currently shows that real estate sales, for the time being, are on the rise. This should continue as long as the interest rates are low and the tax credit remains usable.

It is uncertain what will happen in the second half of the year 2010; but for now the good news is that everything looks a lot better than it did a year ago!

To comment on this blog or anything you may see in the Newsletter OR if you have any topic you would like to discuss, please post your comments on PAUL’s website, http://www.MarylandHomes.org, in the “blog” section. You may also contact PAUL directly by e-mail at info@MarylandHomes.org or by phone at (301) 572-2226.