Finding the silver lining

looking for the positive opens you up to new possibilities

By Shayla Sharp

Need a little good news? Starting to wonder what on Earth is going on out there in the Nation? Despite falling DOW numbers, tax season (ugh), increased unemployment and an economy that looks anything but great, there are some aspects of the current housing market which may make you smile.

In fact, you may just decide that now is the right time for you to take the leap and invest in property whether that means to purchasse or to improve upon what you already own.

National Good News

Whatever your political views are, the stimulus package was passed and will have certain effects upon the housing market. To begin with, there is now a $7500 tax credit for new home buyers--not a bad way to start off as a homebuyer!

With lower house values, not only is housing more affordable, but you will find more choices and great negotiation terms available to you as a buyer. Those qualified to take advantage of Fannie Mae, Freddie Mac and FHA loans will find the loan limits increasing with the new stimulus package.

National average statistics are heavily influenced by the real estate woes of big states such as California, Florida, Nevada and Rhode Island. If you aren't purchasing within one of these states, you may find that your local realty market is better off than you think. Did you know that 60% of states are showing positive performance in home price movements? Top performers include Montana, Utah, New Mexico and Texas--all western states.

Local Good News

For those living in the Seattle area, there are many happenings within the business sector that may pan out to benefit the local economy and markets in a big way.

Seattle's highway and bridge projects are in line to receive $68 million from the current stimulus package. (Whoever said all earmarks are terrible!) That will come in handy preparing for the 2010 Olympics scheduled to be held in Vancouver, British Columbia--just a car ride away. Not only will we see an increase in business from the upcoming Olympics, but also from the recent Port of Seattle deal with Zim, an Israeli carrier.

But wait, there's more! Local businesses such as Starbucks and Microsoft have new projects rolling out including an instant coffee project for the coffee giant and a retail chain store mimicking Apple's successful venture for the software guru. State and federal unemployment benefits are scheduled to increase, bringing additional relief to those in need. Non-stop flights to Los Angeles have been added by Allegiant Air from the Bellingham International Airport making the long commute less of a hassle. The list goes on and on.

So What

You might be wondering how this can compensate for all the bad economic happenings. The truth is, for those effected by the bad, it might not. However, there will be many who can take advantage of the positive aspects to help stimulate their own businesses or have the opportunity at home ownership. Find the silver lining for yourself, and you just might find your own way out of this bad weather.

 

Article first published at NWAbode.com in March 2009.

Shayla M. Sharp, owner of White Dragon Studios, is a freelance writer and designer. She lives in Oregon where she works closely supervised by Stars, her border collie.