NAR says rates are stable and confirmed by Fed today. However, it is like kissing your sister. No improvement in your situation. Perhaps if more properties were removed from the market, such as Cities taking over or demolishing properties, then scarcity would take over.

Right now we are waiting for the other shoe to drop. Are we nearing the precipice, or waiting for the intruder to shoot you. Buyera and sellers have been left hanging today.

Salvation is that your mortgage has been paid off, forgiven, foreclosed or written off for a lost cause. The government says that "you may be forgiven on your debt". Wait until your next purchase for confirmation.

We now know that interest rates should not change dramatically, but that may not be a concillation for those underwater. I canlook back 38 years and can not see anything worse.

The real estate brokerage business reverts back to the 80's when the only way of surviving wass to find cash buyers. Problem today is that FHA now requires buyers to qualify. BUMMER!

 

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David Spencer Chicago Area Commercial-Residential R.E.

Bloomingdale, IL

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Keller Williams Team Realty

Address: 800 E Northwest Highway, Suite 200, Palatine, IL, 60074

Office Phone: (847) 241-2200

Cell Phone: (630) 750-4255

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Real estate topics on better business performance, education, advanced techniques for selling/buying residential, commercial and investment real estate; 1031 tax deferred exchange, licensing; anecdotes and stories to ponder.


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