Good news: Real estate market outlook for '09 - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Good news: Real estate market outlook for '09

Posted by Rachel Leigh email

(WFLX) - We all know 2008 was rough for the housing market. But now better news for the year ahead straight from the experts.

Realtor Douglas Rill says, for the first time in a long time, the future is looking positive for the housing industry. He says in December interest rates went down and prospective buyers went up.

In fact experts say, every time interest rates fall one point, about 1 million more people can qualify to buy.

Reports indicate that 30 year mortgage rates are also at a 37 year low making it the right time to think about refinancing.

Rill says he hopes the economic bailout helps bring out more people looking to buy which would help balance the market out in a big way.

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