The Good News is.........
January 4, 2008
If you listen to talk radio or TV News or if you are a reader of print media, you could definitely feel that the sky is falling. There is no doubt that we are in the midst of a changing and challenging economy. However, in our business, the residential real estate business, all is not doom and gloom.
First off, if you are planning to or needing to purchase a new home there are many choices and most are priced to reflect the current levels of value.
Secondly, if you are selling there are buyers who will be making offers and the
agents who are good negotiators will bring a transaction to fruition.
Thirdly, and for both buyers and sellers, there are lenders making loans and the interest rates today are as low as they have been in almost 6 months: 6% for FHA 30 year with 3% down payment and 5.75% for conventional 30 year fixed with 20% down. There are still 5% down loans with a slightly higher interest rate. If there were no loans, sellers would not be able to sell so sellers benefit from the current mortgage environment.
As we learned last year, you can never know for sure what tomorrow will bring, but what we know from a long history in the real estate business is that over time, owning a home is an enriching experience!
If you listen to talk radio or TV News or if you are a reader of print media, you could definitely feel that the sky is falling. There is no doubt that we are in the midst of a changing and challenging economy. However, in our business, the residential real estate business, all is not doom and gloom.
First off, if you are planning to or needing to purchase a new home there are many choices and most are priced to reflect the current levels of value.
Secondly, if you are selling there are buyers who will be making offers and the
agents who are good negotiators will bring a transaction to fruition.
Thirdly, and for both buyers and sellers, there are lenders making loans and the interest rates today are as low as they have been in almost 6 months: 6% for FHA 30 year with 3% down payment and 5.75% for conventional 30 year fixed with 20% down. There are still 5% down loans with a slightly higher interest rate. If there were no loans, sellers would not be able to sell so sellers benefit from the current mortgage environment.
As we learned last year, you can never know for sure what tomorrow will bring, but what we know from a long history in the real estate business is that over time, owning a home is an enriching experience!
posted by shirley harry at 9:15 AM
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