Greetings from sunny and warm Hayward!
Many people ask what kind of an affect the Emergency Economic Stabilization Act will have going forward as it relates to real estate. It certainly will affect buyers and sellers and overall consumer confidence; freeing up cash and credit is critical as well as working through more of the mortgage mess.
For the most part, I don’t see any immediate results; this is the kind of plan that will take several months before we see results but I believe the outcome will be positive. Add to the soft real estate market, the election and the financial crisis around the globe and one can feel like a deer in head lights.
The upside is that U.S. home sales were up last month, though median price was down and U.S. inventory of homes moved much lower. In addition, home mortgage rates are in great shape and local banks in particular are eager to loan to credit-worthy buyers. Locally we still have a good inventory of homes which is good for buyers.
Amidst all this turmoil folks still are shopping for that “up north retreat” and the opportunity to build family memories. Personally, I believe the real estate debacle got us here and will lead us out again as has been the case historically. The U.S. is not shrinking, nor are we in Sawyer County, so housing will continue to be a need for primary home owners as well as a “want” when it comes to secondary home owners.
If we can weather what went on in 2008, I am confident we can deal with the bailout plan and make 2009 another success.
Come on up and enjoy our beautiful north woods, fresh air and lakes…Life is a Gift…..Live It!
Gary Nathan
Amanda Mavis
Woodland Dev. & Realty
15617 Railroad Street
Hayward, WI 54843
715-699-4040
nathan@garynathan.com
http://www.garynathan.com/
