Housing stats imply its time to buy
According to a recent report from Global Insight, an economic and financial analysis forecasting firm, current housing statistics indicate that now is the right to time to buy.
They claim that the U.S. housing market as a whole is undervalued by 3.8 percent. Global Insight analyzed 330 metropolitan areas in the United States and found that 241 metro areas experienced price declines in the third quarter of 2008 in comparison to 150 metro areas in the second quarter.
The markets that were hardest hit were in areas that were most overvalued three years ago. This study, a combined effort by HIS Global Insight and National City Corporation represented 78 percent of all existing housing units in the United States.
Low intrest rates and increased affordability make today’s market a buyer’s dream!
Source: Global Insight (12/03/2008)
The Federal Housing Finance Agency (Formerly OFHEO) Report for the Third Quarter of 2008 was just released this past week. Mobile had the second highest appreciation rate for the 3rd Quarter of 2008 out of all the Metropolitan Statistical Areas (MSAs) in the country, with a 2.49% increase over the 3 month period. Mobile leapt up to #6 in the country for total appreciation over the past year.
The Hottest 10 forecast in 2008 have regional economies that are healthy and have strong potential for being exceptionally prosperous through the end of the year. The Hottest 10 represent markets that aren’t just the exceptions to the rule in national real estate trends, but show that no matter what the national economy is like there are always hot markets.
SSAB Adds 200 Jobs in $475 Million Steel Mill Expansion in Mobile County 
The Charmont Subdivision has become the talk of the Eastern Shore as it comes to life as a stand-alone affordable high-end subdivision. Directly in the path of the growth in Mobile and the Eastern Shore, only 2 units remain that are eligible for the 50% First Year Bonus Depreciation. The units must close by the end of the year to qualify for the tax benefits. For more information, call 702.940.6568.
Brand New GO-Zone Qualified Commercial Retail Space in Premium Location in the Eastern Shore. Individual Condoized Commercial Units available so the small investor can buy what the wealthy buy! 5,000 sq ft units estimate 8.5% Cap Rate, $1,000/mo cash flow, over $100,000 built in equity, $350,000 first year bonus depreciation. Tenants lined up with letters of intent to sign long term leases. Must close by December 31st to qualify for GO-Zone tax benefits.
