REALTORS IN BAXTER/MARION COUNTY, ARKANSAS WERE GIVEN A "RAY OF HOPE" THIS WEEK. A FRONT PAGE ARTICLE STATED THAT BUYER'S WERE BACK INTO THE HOUSING MARKET! YEAH! WITH THE "DOOM/GLOOM" THAT THE NEWS MEDIA REPORTS NIGHTLY, IT WAS GOOD TO HEAR SOME GOOD NEWS FOR ONCE.
I AM SURPRISED THAT MORE BUYER'S ARE NOT OUT LOOKING FOR THE "REAL DEALS". MY FIRST HOME PURCHASE WAS IN 1981! OUR INTEREST RATE WAS 18 1/2%!!! ALL WE COULD DO WAS PAY THE MONTHLY INTEREST. AS SOON AS INTEREST RATES STARTED COMING DOWN... WE "HIGH-TAILED" IT TO THE BANK AND REFINANCED AND OVER THE FOLLOWING 3 YEARS... WE CONTINUED UNTIL WE WERE ABLE TO REDUCE OUR RATE TO WHICH WE COULD LIVE WITH. I KNOW THAT I'M NOT ALONE WHEN I TELL OF THAT "INFLATIONARY" PERIOD BACK IN THE EIGHTIES! IT WAS SCARY!
I AM GOING TO CONTINUE TO THINK POSITIVE THAT OUR GOVERNMENT WILL NOT LET INTEREST RATES GET TO THAT "STAGGERING" HEIGHT AGAIN!
IF INDIVIDUALS ARE RENTING NOW, HAVE GOOD CREDIT AND SOME SORT OF DOWNPAYMENT SAVED UP, NOW IS THE TIME TO GET SOMETHING BOUGHT!!!! BEFORE INTEREST RATES START CREEPING UPWARD AGAIN. SOME HOMEBUYER'S ARE DESPARATE TO SELL THEIR HOMES RIGHT NOW... HOME VALUES HAVE DECLINED AND I FEEL THAT HOME VALUES HAVE BOTTOMED OUT. WHAT CONTINUES TO SURPRISE ME IS THE NUMBER OF HOMEOWNER'S THAT FEEL THEY CAN STILL MAKE A SIZEABLE PROFIT BY SELLING THEIR HOME DURING THIS RECESSION PERIOD. SOME HOMEOWNER'S WILL BE LUCKY TO RE-COOP WHAT THEY PAID FOR THEIR HOME... SAVEY BUYER'S ARE LOOKING INTO PUBLIC RECORDS AT THE COURT HOUSE TO SEE WHAT A HOMEBUYER PAID FOR A HOME BEFORE MAKING THAT "OFFER"!
INVESTORS HAVE HEADED BACK TO THE STOCKMARKET... GAINS ARE BEING MADE, BUT I STILL FEEL THAT REAL ESTATE IS THE SAFEST INVESTMENT ONE CAN MAKE AT THIS TIME.
HERE IS WISHING ALL OF US A BUSY AND PROFITABLE FOURTH QUARTER!