Most of us expected that the New Home Buyer incentive of $8,000 would be renewed.  In my experience, in the original time frame, the incentive has helped stir interest in the market, and get some homes sold, and at least get some movement in the Utah market.

I see the segment of buyers wanting to move up are quite excited about the new incentive for existing home owners who have lived in their home for 5 of the last 8 years.   Their incentive is $6,500, less the the new home buyers, but significant.   It should broaden the pool of buyers.

It still poses a problem for those who need to sell there home first.  We should see a increase in the number of home coming on the market, likely after the first of the year.  It is a real opportunity for those interested in moving.  However, the bulge in inventory of existing homes for sale could dampen the need for the market prices to rise.

What is your take on the the renewed and expanded federal government incentives?  What impact do you predict for the short run and on into the first half of 2010.  Will it be different  for the Salt Lake market and for diverse areas like Riverton and Cottonwood Heights?

Would it not be smart for those looking for a newer home to get theirs listed and available now while there are fewer homes on the market, or at least early in the new calendar year to take advantage?

How many times in your real estate conversations  have you heard statements from friends and family say things like, “I knew that was a great deal, but I just didn’t do anything about it”?    “If I had just made up my mind and done it, I would be rich now ( or way better off).”  Hesitation and waiting for something  just a little bit better is a killer in buying real estate.

The Salt Lake Area market  is a great buyer’s market.  The time is right.  Interest rates are at all time lows.  Home prices have dropped and are now pretty stable, not likely to drop lower as a group.  There are a good number of sellers deserparate to “unload” their home because of finances, required moves, changing situations, etc.

If you have the need or  desire and are  in a position to buy real estate, indecision to find and buy those good deals is a decision and can often make up some of our deepest regrets.   We can all look back and think about times  passed up waiting rather than taking action.

In this down market, there are a large number of those good DEALS just staring us in the face.  There are particularly some great deals in Riverton and Cottonwood Heights areas, to mention a couple of examples in different areas of the valley.  But great deals are all over.  Look and ye shall find.

Tell me, what are you waiting for?  Tell me of some of your past “regrets” and of what is holding you back now?  I would love to hear what you think about today’s market and the opportunities out there.

The market is leveling off in Riverton.  The inventory of homes is down.