Home Buyer Reprieve From Fed
The Federal Reserve decided to extend, and then gradually phase out purchasing mortgage-backed securities as of late September 2009 as an effort to keep interest rates low through early next year.
It seems to be working. Well, at least we’ve continued to see interest rates remain at all-time lows for home buyers, and homeowners interested in refinancing.
We still are hopeful that Congress will extend the tax credit program for first-time home buyers, or come up with a new program. For now though, it seems too early to tell. There are many buyers taking advantage of the $8,000 tax credit, which requires buyers to close the sale by the end of November 2009.
In Boulder we’ve seen a small uptick in the activity from first-time buyers, but I can’t say with certainty that the program is what’s been the largest influence on the increased activity in our local real estate market.
I’d say that it looks more like increased confidence in both the market, the job situation in our region, and stable property values. Home sales are up considerably over last year, and those sales are all through the various price ranges.
Call, text, or email me today! …especially if you’re ready to talk about selling your home, buying a new home, or know someone that is moving!
In the meantime, it seems that the central bank will leave the interest rate target somewhere near zero to 0.25%, and it seems that the federal funds rate will remain low for what some experts are saying will be an “extended period”.
Economic activity has picked up in many sectors, the stock market is doing relatively well, and consumer spending, while testy, is stronger than we’ve seen in a while.
Whether it’s mountain property for sale, a rare build-able lot in Louisville, sustainably designed green-built homes for sale, neighborhood profiles, or Boulder county business profiles, I strive every day to give you the useful information and critical support you need to make an informed decision.
Call, Text, or Email me. I’m never too busy for your referrals, as a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful Realtor, and I will listen to you.
-Zachary Epps, full-time professional Realtor® and EcoBroker® at RE/MAX Alliance Boulder