Well, the year is beginning to wind down as people focus their attention on the holidays, families, and friends (which is where it should be!). We, as agents, are beginning to put our plans in place for next year - plans to overcome the challenges that we've seen this year. What have we decided is the key to the market right now: PATIENCE. We are seeing homes sell and they are still selling at good prices. Sellers are still making money on their homes. It's just taking a little longer than most expect.
There are some good things on the horizon for next year that should help move our homes for sale in Teays Valley and Charleston. Rates are already dropping into the low 5's. Congress is working on a plan that will reduce rates around 4.5%. We've already seen the recent reductions stimulate sales. A drop to 4.5% would really help things along. FHA is also looking to add back the down payment assistance program allowing sellers to assist with down payments for first time home buyers. We did 6 deals this past year under this program before it was discontinued.
We are fully expecting next year to be much better. Once we get through the winter months and mortgages loosen back up, it is gonna get better! If you ever have any questions or concerns, contact us at any time!
Merry Christmas and may God richly bless you in the coming year!
Scott & Connie
www.WVHomeSearch.com