Alison Creamer's Real Estate Blog

Hello,

Looking at the Va Pilot business section today they wrote a small article about the current housing market.

1.This is supposed to be the worst turn down in 16 years.

2. Sales fall in 41 states this quarter compared to last year

3.Florida and Nevada saw the worst

So what does this mean to you   ? If your a buyer now might be a good time to go shopping. Are you waiting for the bottom to fall out ? Well I would suggest the only way you'll know that is when you see if starts to turn upward. Our area overall is just getting balanced. I do see sellers more willing to negotiate, and make repairs to get the job done. All these comparisons are up being lined up with a market that was extraordinary. Of course when you run the numbers are all going to be down. Lets run the numbers on the years that we were in a normal market. My bet is we are not that far off and sellers are still seeing a slight appreciation in value.

*********warning **********

Don't believe EVERY thing you read. I can offer you accurate information based on what is going on here, not what is going on in the NATION. Would you run to florida to buy a house because they might be a better deal?

Call me today for a MARKET REPORT on your home ,neighborhood, or city and how you line up with the local market.

Is your home to big to get the mortgage interest write off ?

Do own a McMansion a home that is over 3000 sq feet ? Well hold on you might not get the same tax benefits as someone else with a smaller home.
Big houses, may consume outsized amounts of energy for electricity, heating, air conditioning, and construction materials. some elective want to "impose a stiff tax on carbon, increase the tax on gasoline, and remove the mortgage interest deduction on 'McMansions,' - homes over 3,000 square feet."

There are  roughly 10.4 million single-family houses in the U.S. contain 3,000 square feet or more, and represent 27 percent of the total valuation of single family owner-occupied units.

so will this make these home less affordable ? what about family with say 4+ kids  how fair it is to them to smash them all in one tiny box ! ? I think there needs to be a lot more input and maybe a provision if a large family lives in the house as well. In my opinion someone is always taking from the rich to give to the " goverment" any way..

original story was posted By Kenneth R. Harney, Realty Times columnist

Recent article in the VA Pilot .

The city council addressed a proposal to increase the work force housing sector to include homes in the 150k to 250k price range.

This means households that make 36k-76k would be able to afford these homes.

The Va beach taxpayer  alliance group opposes the measure saying the city has no obligation to provide any class of citizen with the opportunity to purchase a new home.

There is a public hearing august 21st at the city hall municipal complex.