As the first-time home buyer tax credit comes to an end (homes must be closed on by December 1, 2009), it’s time to reflect upon it’s effectiveness. The Milwaukee Journal-Sentinel posted one such article last week…
Read the Journal-Sentinel article.
What do you think?
One factor that demonstrates that real estate is becoming more affordable for buyers is the following statement:
On a national basis, median home prices, which rose to more than four times median household income in 2005 during the housing bubble, have sunk to a bit below the norm of about 2.8 times family income – a ratio reflecting, in part, the sale of many lower-priced starter homes.
The article also states that lower priced homes are becoming the most popular choice amongst home buyers.
That statement also remains true for the Wisconsin Rapids area. Homes under $125,000 in our area are moving the fastest. In a later post I’ll show you the expected time on the market for homes in all our various price ranges.
If you’re considering placing your home on the market now is your last chance to reach first time home buyers because the deadline is fast approaching.
How has the first-time home buyer tax credit affected you? Has it caused you to purchase a home this year? Have you been left out because you already own a home?
PHONE: (715) 572-8372
My name is Adam Holberg and I’m a Realtor with First Weber of Wisconsin Rapids. This website is designed to inform and help bring conversation to a topic I love, real estate.