The residential real estate market in Boulder Valley is predicted to make a slow recovery in 2010. This is a good prognosis for the New Year for RE/MAX of Boulder’s 86 full-time Realtors®, and it’s also excellent news for all homeowners and first-time homebuyers who plan to take the plunge into home ownership this year to take advantage of the tax credits.
According to Ken Hotard, senior vice president of the Boulder Area Realtor Association, “The worst is likely over, but don’t expect a quick recovery. Jobs are still a problem and until we see job growth, there will be no significant recovery in the housing market.” But he also states that if you’re in the position to buy, with access to credit or cash, this is the BEST time to buy. Low interest rates, discounted prices and the extension and expansion of the homebuyers’ tax credits are all working in the buyer’s favor.
There are expectations across the board of rising interest rates in the coming year. Hotard expects the trigger will be pulled on rates sometime in 2010. When is anyone’s guess. Hotard predicts the high-end real estate market will continue to lag behind in 2010, as jumbo loans will continue to carry higher rates and be more difficult to obtain.
All in all, optimism prevails around our office, so don’t forget…
YOU HAVE 107 DAYS LEFT TO TAKE ADVANTAGE OF THE HOMEBUYER TAX CREDIT.
Call us today at 303.449.7000 or 800.825.7000 or visit www.BoulderCO.com