Assessing the housing market; it depends on how you look at it.
It's painfully obvious to anyone selling a house that the prices are not exactly something to brag about. However, Bill Malkasian, President of the Wisconsin Realtors Association, says if you're a home buyer , the prices are very affordable, especially when you consider the low mortgage rates.
Malkasian says he's seeing a lot of first-time home buyers taking advantage of the 8,000 tax credit and jumping into the market. Mortgage rates will eventually go back up, and home prices will also increase. So, how much longer can we take advantage of such low mortgage rates? It's hard to predict.
it's not so much about the mortgage rate as it is about the rest of the process, including the appraisal process and the credit worthiness of the borrower. says real estate in Wisconsin is very local. In other words, location, location, location.
AUDIO: Jackie Johnson report (1:29)
