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99.2% of mortages are NOT in Forclosure...

By
Real Estate Agent with Coldwell Banker San Jose Realtor 01234623

Here's some news:

Today's media plays up bad economic news more than ever, which leads to misconceptions about economic Realty. Our economy is extremely strong, profits are superb and the world economy is exploding.

All you read and hear is that Real Estate is going down, yet last month, prices in the U.S. rose 3.4% from a year ago and in California is up almost 1%. The bay area has gained 4.1% over the last year and Southern California median price is up 3.7%

The Sub Prime Market

 

It may suprise you but the sub prime loans make up only 5% of the U.S. total loan market and Alt - A loans

(those with credit better than sub prime but less than prime) total only 8% of all loans in the U.S.

Most of the problems with sub prime loans  originated in the summer of 2005 through 2006.

In California 43% of all loans funded during that time were sub prime loans.

information from: Inside Morgage Finance, Mortgage Bankers Association.

 

As Celebrities know stories get blown out of porportion, this is just what happened with Real Estate and it's time the consumer knows.

As Realtors we need to help them to understand the media is not always the whole truth.

Denise Stuart

Coldwell Banker

http://www.myspace.com/berryessacommunityrealtor   

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