We all realize that the feds have been dropping the interest rate in order to try to stimulate the market. This seems to be helping some, but I feel people are still being cautious. With everything going up, gas, food, utilities, gas.. Oh, did I say that twice? It is going up so much it is worth saying twice. Anyway, the general public I don't think feels the interest rate reduction has enough of a stimulous to have them buy. There are too many unknowns with the economy.
So my thought was if the feds could take a different approach. Instead of lowering the interest rates, why not give a credit to the buyers. Say someone is buying a home between $200 and $400k they would get a $10k credit; if they were to purchase a home between $401 and $600k there would be a $20k credit. There would be an increase of $10k for every 200k increments.
Wouldn't this have more of an effect since it is up front instead of over the long run with the reduction in interest? I think seeing something upfront would have a greater impact.
Info about the author:
Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, as well as the surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.
Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - email@example.com
Copyright © 2008 By Valerie Osterhoudt, ABR, All Rights Reserved...*A NEW APPROACH TO STIMULATING THE MARKET*
Valerie Osterhoudt, ABR
(Accredited Buyers Representative)
Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.
Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
email: Valerie Osterhoudt, ABR