"Nothing to do but make this house your Home!
This home boasts a spacious layout, generous sized bedrooms, a breakfast bar, and so many new features including: Water Heater, Forced Air Heater, Refrigerator, Dishwasher, Hood/Microwave, Carpet, Vinyl, Renewed Cabints, and Paint inside and out. Come see for yourself!
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185 Cummins

January 2010 Market Report

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January 2010 Market Report for Humboldt County

Welcome to another Market Report for Humboldt County Real Estate Sales. Sales numbers slipped for the first month of January, but this is standard for the First month of the year. It tends to be the slowest time because of the holidays the prior month.

January 2009 saw 80 sales vs. 81 sales for 2010, but there were more listings in 2009 (1416) than in 2010 (1153). Inventory is down to 14.23 Months of Inventory vs. 17.70 for 2009.

What does this mean? Less downward pressure on prices, this is good for sellers but signals to buyers that the market has likely hit the bottom. Coupled with the highest afforbabilty since March of 2004 (27%) and low interest rates, this makes for an excellent buying opportunity.

Where does the market go from here? Good question! If I could predict the future, I'd be living on my own private island somewhere, but since I can't I'll have to give it my best guess. I believe that the prices of homes will bump along the "bottom" until there is a real economic recovery. Look for sales activity to increase through the year and In the mean time, there is a very real possibilty that two factors could affect the market.

1. Credit could dry up even further. Thus far, FHA has powered the market across the country, but if HUD makes significant changes to FHA loans by increasing the down payment from 3.5 % to 5% or requiring higher credit scores this could push many more buyers out of the market. This loweres the demand and pushes prices lower.

2. The Federal Tax credit for First Time and Move Up buyers is not renewed (again) causing sales activity across the nation to drop substantially. This is scheduled to occur on April 30th. (You must be in escrow on a home by that date to qualify.)

In any event as we move towards recovery interest rates are likely to increase, this affects a buyer by cutting into their buying power, so I think now is a great time to buy.

No matter what happens, a home is always more than an investment, it's a place to celebrate and live life with friends and family. Feel free to browse Humboldt County Listings and then call me if you see something you like, I'd be happy to help you find a place to call home!

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