In just a few weeks, you?ll be (hopefully) casting your vote in the next presidential election. But what does this election mean to buying and selling a home? It can be summarized as consumer confidence.? Buyers ultimately need to be confident that the purchase they?re making is going to be a good one.
Our business doesn?t do mortgages, but we work with a lot of lenders and in the last 12 to 18 months we?ve seen that many buyers are qualified to purchase a home. However, buyers are sitting on the fence right now and understandably so. They are waiting to see which way the market is headed. Is it going to decline or stabilize and finally point upwards??
I have my reasons for believing that we have finally hit the bottom and it?s going to be a slow and steady incline back to real-price appreciation. We still have a tremendous amount of toxic debt still on the books around the nation and around the world. It?s going to be a long, arduous recovery, but for the first time in almost seven years, we?re going to see price appreciation next year, from the middle of the first quarter to the start of the of the second quarter. Albeit, it?s going to be small percentages, but I suspect that we will see some price increases finally for the first time in seven years.?
That said, the presidential election is key, because right now a lot of people are still on hold about buying a home. They?re waiting to see who?s going to be elected. Everyone has their own opinions of how President Obama is going to affect things going forward, or how Governor Romney, if he is elected, will change how the market is going. Either way, I see the market returning to stability and with the close of the elections we should be able to move quicker. ?
Geoffrey Green
Broker/Owner
Office Phone: (845) 986-7730 Ext. 301
Office Fax: (845) 986-5919
Source: http://www.greenteamsells.com/uncategorized/voting-and-the-market
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