is now 
Are you thinking about buying a larger home or downsizing? Perhaps you are considering buying your first home or a second home as an investment
property?
Reports on current home sales in the Kansas City area and throughoutcthe Midwest send mixed signals. The Kansas City Star reports a low inventory of existing homes is pushing the price for home purchases up and the time that a house may remain on the market is now shorter. Home builders especially are taking advantage of that trend as they begin new home construction projects.
Yet, on a wider perspective, experts say it will be a long time before the housing market recovers. The Mortgage Bankers Association calls the national housing sector a “bright spot” in the economy, but reports the increase in housing starts is due mostly to the increase in building multi-family dwellings.
Many American homeowners are maintaining a wait-and-see attitude as they hold on to their properties hoping for better days ahead.
For families: It is a time to carefully look at the numbers to confirm whether a new purchase is the right choice in a time of questionable property values, limited cash flow and lack of available financing.
For investors: If you have already planned out your savings, borrowing and investment strategies, you may consider taking steps for purchasing new or used properties with renewed confidence. The housing market offers some very attractive deals.
These decisions have both financial and income tax consequences. Consider having a CPA review the possibilities with you as you choose the option that most closely meets your goals.
