It’s no wonder that with the 50 year low interest rates and record-breaking mortgage application (mostly for refi’s) the housing market is looking like it’s going to rebound. The Obama administration has two pots from the stimulus package to work with in order to stimulate the housing economy and diminish the number of foreclosures, which affect home values across the board.
It’s still unclear what the stimulus package will do for the housing market, but in February we’ll find out. It is anticipated that a huge chunk of the $770 Billion Dollar package will go toward the housing sector. There is also a forecast that the nationwide real estate market will rebound from the down-turn and in the coming quarters, we’ll see an upturn in home values. Already, we’re seeing values increase in certain parts of the country. This includes the Washington metropolitan area.
So, for those who’ve been skeptics all along, let there be light: The end of this doom and gloom is closer than you think. Time to get up and invest and help turn this economy around, one home at a time.
Your Washington DC Real Estate Advisor,
Sally Hamidi
