Tax Credits Gone, What’s in Store For Coos Bay Real Estate?
While it is true that the home buyer tax credits spurred Coos Bay real estate sales during the past 12 months or so, it is also true that that is exactly what the tax credits were designed to do. There is an old saying, “all good things must come to an end”, the tax credits could not last forever but just because they are gone does not mean that recovery is not occurring.
What does the Coos Bay real estate market have going for it now? Two very important things: low mortgage rates and low home prices. While a tax credit may be helpful up front, low mortgage rates can save much more than a tax credit over the length of a loan, diminishing the overall cost of a home by thousands of dollars.
Coos Bay real estate is recovering at a steady pace. While impatience may create a doubt about the reality of recovery it is important to remember that it is a boom that created the bust in the first place, and a slow approach is more likely to be a secure step in the right direction.
Click here to read a recent article from Realty Times regarding the current state of real estate.
Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.
