Chris Gmyr

The government has been trying to put together programs and incentives to help the housing market out of its crisis because of the Great Recession. Many programs like the Federal Reserve buying $1.25 trillion in mortgage securities, home buyer tax credits and other programs are scheduled to end soon.

Many of these programs including the home buyer tax credit have already been extended to April 30, 2010; because it was originally due to expire in November of 2009. Many people are now arguing that the government programs and support have not been helping enough to make them worth the time, money, and effort.

People are saying that despite government programs and help, housing markets are still struggling and sales are still continuing to drop, such as the 7.2 percent drop in home sales in January. The government is still deciding whether or not to change their programs or put more effort and money into existing ones, but many people feel that it would be a better idea for the government to stop helping altogether.

Home values are affected by many factors including but not limited to: the job market, health, the environment, and many more. Also, it is important to pay attention to whether or not the rental property business is doing well. If housing prices are low this may make buying more attractive and vice versa. If people feel that it would benefit them more to rent now and buy later when the economy and housing market are better than that is probably what they will do.

As a real estate agent it is important to know not only how the housing market is doing but rental properties as well. It is also important to keep in mind what motivates people to buy or sell their home. This way they can make the best decisions when working with their clients. It is also important for buyers and sellers to know about the market and current news so that well informed decisions can be made now and in the future.