Posts Tagged ‘housing market’

December 15, 2009 — Realty Times Article by Kenneth R. Harney

If new applications to buy homes are any gauge, the U.S. housing market is warming up, and that’s despite the fact that we’re now into the traditionally quiet holiday season.

Applications for home purchase loans soared 42 percent last week on a non-seasonally-adjusted basis compared with the week before, according to the Mortgage Bankers Association.

That burst of activity may have been influenced in part by the long Thanksgiving week layoff. Or it could have been an early reaction to the extension of the $8,000 tax credit or the start-up of the new $6,500 credit.

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If you have often thought about buying your first home, but can’t seem to convince yourself that NOW is the time to do something – read on.

Think about the condition of the housing market right now…

• the selection of homes available is better than during what some would call a ‘normal’ market

• interest rates are very low

• there is that $8,000.00 tax credit available from the Federal government for those who qualify

• the City of Columbia can add $5,000.00 to your down payment if you meet their guidelines

• there could even be money available, from the city, in the form of a low interest loan for energy improvement projects

If you are worried that you might not be able to get a loan, you might be surprised. Call your friendly bank or a mortgage company and find out. If your credit history has a few bruises, it might not be that hard to get it healed up enough to buy that house you have always wanted.

It is kind of like when you were in high school and wanted to ask that really cute girl to go to the prom with you – if you never ask, it ain’t ever going to happen!

Jim Jones can be reached at 573-529-6904. Prudential Vision Properties is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.