In December 08, we saw a 30% increase in offers to purchase, in Jan 09 it was 8.9% increase.
Spring market is upon us, rates are indeed low in the 5% range this week, and first time homebuyers will be enjoying some new incentives being provided by the federal government in the form of tax breaks.
Hopewell Junction itself is highly attractive to buyers due to it's proximity to the Taconic State Parkway and southern Dutchess location (less than an hour drive to White Plains); it is a very pretty town (lots of trees and parks) and offers many recreational opportunities for it's residents, not to mention near tons of shopping.
So I am optimistic about the overall market in this area and buyers can certainly find a wonderful home at a good price and great interest rate.
I hope this helps. :)
That said, you should not buy or sell based on what the "Trends" are unless you are an investor. 90% of home buyer actually LIVE in the home we buy. A home where we raise a family, share memories and a place where we can rest, relax and call HOME!
That said, buying a home now or later should be determined by what your needs actually are. In a booming market like we experiences just a few short years ago, people tend to get swept up in the wave of enthusiasm, just as people are swept up in the wave of "waiting for the bottom" now. In both cases, that is not the best move.
If you would like real honest advice as to whether now is the right time for you to buy, please contact me. I will not convince you one way or the other. I will give you the facts and with that information, YOU can determine what is right for you. Surprising to most Buyers, very little of this will have to do with the current state of the market, but rather where you currently are in your life.
Larry Jensen, Principal Broker
Accredited Buyers Representative
St. Lawrence Properties, LLC