1)Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.
2)Houses are in move-in condition. Many homes are available where home owners have continued to spend on maintenance and repair.
3)Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.
4)Appraisal regulations are finally beginning to align with market conditions. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the market more accurately.
5)Plenty of programs. Many programs, like FHA loans, that encourage middle-class families to buy homes continue to exist, despite market downturns.
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