The St. Louis metro area real estate market seems to be responding to the first-time homebuyer tax credit. Most of the buyers are looking for homes below $200,000. So what about those of you who have homes above this price point. Well, consider the following:
1. Your $200,000 "first-time homebuyer" home sells during 2009 to a new homeowner.
2. You, like most sellers, are moving up! You're going to buy a $300,000 home.
3. The sellers of your new home are looking for a $500,000 place.
4. And so on...
Whether you are a Republican or a Democrat, the $8000 credit is a boost to the economy. Economics 101 tells us that the housing market drives our economy. Remember that the home buyer spends money on appraisals, title, inspections, insurance, etc. Also, the new homeowner is going to buy paint, carpet, drapes, flooring, etc. These purchases of goods and services stimulate each of these industries. Those involved with these goods and services providers spend the money that they receive from the homebuyers. And the economy improves. You can visit my St Louis real estate blog for more discussion of the economy, both local and nationwide.
And don't forget to search for your home, whether your first or your last, at my St. Louis home search website.
For more information, please contact Russell Nolting at 314.267.2636 or at Russ@NoltingRealEstate.com.
- NUMBER1EXPERT™ 
