Everyone has their New Year’s resolutions. Whether it is getting in shape, finding a new job, losing weight or finding a work life balance, everyone seems to have one or the other. But what about a New Year’s resolution for your home? Did you ever think about that? How long has it been since you did any upgrades to your home; maybe a new roof, new landscaping, or new kitchen or bath? Or how about switching out your appliances to more energy efficient ones?
Many people say that in 2010, they will be first time homebuyers. Being a first time home buyer in 2010 is both smart and timely. Mortgages rates are at record lows and prices have dropped. Also, there is the $8,000 first time home buyer tax credit that has been extended until April 30, 2010. It has also been expanded to include a $6,500 tax credit to all move-up buyers.
According to Realty times, more than 15% of those who responded to the survey said that saving money to purchase a new home is their top real estate resolution for the New Year. Nearly 40% of people say that home improvements are on the top of their list. According to Calabasas, CA-based Informa Research Services, home equity lines of credit for $50,000 with an 80% loan to value note, were available in early December at an average variable rate of 4.98%. Some rates were as low as 2.74%
The Move.com survey also found that 9.1% people wanted to fix their credit so they can buy a home next year. Many people are seeking credit repair companies to assist them with raising their credit. All one has to do is contact a credit repair company, seek counseling and listen to the advice the counselors give. They will explain to you what needs to be paid off and by what date.
There are still a decent percentage of people who are wisely considering buying an investment property at some point this year. People are finally beginning to understand that Real Estate is still an investment; it is just more long term than short term.
These Real Estate Resolutions will hopefully improve the real estate market as it seems that many people are looking to purchase or invest in real estate at some point in the year 2010. It doesn’t appear that for a majority of the population this is something that is on the backburner. This year will bring about great changes in the real estate market and hopefully for many more years to come.