This morning I awoke to the news that Amendment 1 passed in yesterdays election.  In fact it easily passed by a nearly 2 to 1 margin of 64% yes to 36% no.  Initially I did not like the proposal but in the end I came around and voted for it.  I decided that even though it is flawed, it is better than the status quo.  More work needs to be done, but these things take time.  There is another initiative that would cap all property taxes, including commercial and second homes, at 1.35% of assessed value.  That to me would be real reform.  We'll have to wait and see.

I'm mostly glad that this is now behind us. The anticipation of this vote has done as much as anything else to stagnate the market.  So lately there has been plenty of good news to make me more positive about the market.  The Fed has made a big cut in interest rates and more could follow.  If you are a home buyer, you are running out of excuses not to buy.  Prices have fallen big time, there is plenty to choose from, we have some tax relief, and interest rates are getting more favorable.

In fact, I'm so pleased I'm calling today a personal holiday.  I think I'll go play some golf for a change.

Tom Day, Re/Max in Motion

www.TomDayProperties.com