Weakest year since 1963 : Home Sales Down : Housing : Real Estate Recovery :

I don't have the tendancy of sending mass emails but I tought I make you aware of some data that has been quietly ignored and down played by the media. A disappointing new home sales report was more or less dismissed by the market.

• Sales of new homes fell unexpectedly in December, capping the industry's worst year on record and fueling concern that the housing market turnaround could falter.
• New home sales for December fell 7.6 percent to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December.
• Last month's results were the weakest since March and were only 4 percent above the bottom last January. The data showed the housing recovery remains limp despite newly expanded tax incentives to spur sales.
• Only 374,000 new homes were sold last year, down 23 percent from a year earlier and the weakest year on records dating back to 1963. December's sales were nearly 9 percent below the same month last year.

Considering the population growth in the US since 1963, the figures point a very ugly picture despite countless national treasure thrown at the problem.
These times can be filled with opportunities. Did you know that in some areas you can buy homes for less then the dirt it sits on?

Combine this with:

• Low interest rates
• Federal Tax Credit of $8000 for first time buyers
• Federal Tax Credit of $6500 for existing homeowners
• GA Tax Credit of $1800 (most qualify, contact me to explain).

Unfortunately we have only untill Apr. 29th 2010 to take advantage of those government stimulus. Congress has already announced that the credits will not be extended. If you know anyone that is thinking of buying a house this year do them a big favor and forward them this announcement or pass them my contact information.

Kris Zugloff, REOS, NAR
Real Estate Advisor
www.zugloff.com
Mobile: 404-579-5889
Fax: 770-579-4560
Better Homes & Gardens Metro Brokers
2157 Roswell Road NE, Marietta GA 30062

P.S A large part of my business is referrals. If you know anyone that needs my services, please pass my information along.