Keep Your Fingers Crossed Interest Rates are Falling - NEED TO GO LOWER

2008 has had more ups and downs than a Roller Coaster! I admit with the economic conditions we are going through there is NO WAY to make any rational predictions about what may be coming. Just forget it! This is more like the good guy, bad guy routine but with INFLATION then DEFLATION.

The problem is we are now DEFLATING like a hot air baloon with the heat turned off and the CRASH is going to be measured by how HIGH we went with INFLATION before the gas ran out.

O.K., so all my former predictions concerning increasing prices can now be allocated to the bit bucket of history. We are now navigating uncharted waters. Waive if you should float on by!

Prices are generally going lower. There is a baseline of resistance measured by public activity whenever someone really lowers their price to ridiculous levels. Some foreclosure banks are now doing this. When they take a $420K home and cut the price to $299K what this does is bring out the bottom feeders in force. Normally this means a bidding war and then somewhere when the dust settles a home that sells for what its real market value is.

I think NOW is a great time to be buying. INTEREST RATES are falling, home prices have fallen, there are just a lot of great buys when measured by 2005 & 2006 prices.

I don't know if I will be correct on us being at the bottom, but for DFW, Dallas, Fort Worth, Collin County, Denton and this entire Metroplex area WE NEVER HAD A BOOM and so we are priced where other parts of the country are adjusting to. THEY have room to decline and HAVE declined, but we are now at a price point where builders are going to have to go to the sidelines, especially with building SPECS because they simply can't make a dime's profit. If that ain't a bottom, then what in tar-nation is?

So where is the market going???? Well if new homes are taken out of the equasion, then we have a finite supply and a growing population and according to supply and demand this would cause prices to rise.

I think we are at the bottom. If we hit a depression then all bets are off. If we think recover, then we are admitting an improvement is around the corner. If 'recovery' is the prognosis, then the market stabilizes and builds making NOW a great great time to get the home of your dreams! :)

Again, the opinions are my own....................