Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

April 9, 2009

First Time Buyers Driving Recovery?

by @ 12:49 pm. Filed under Real Estate

An article in today’s Globe suggest that first time buyers are driving any revival of the long-sagging real estate market. Citing low interest rates, dropping prices, and a Federal income tax credit, the story lays out a compelling case that now is the time to buy a home. The problem is that such a window of opportunity is available almost exclusively to folks who don’t already own a home. Those who do tend to be encumbered by a mortgage obtained at a time when the home’s value was at its hyper-inflated peak and therefore lack sufficient equity to be able to refinance or sell under normal circumstances.

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