Who really cares that the Government bailed out Fannie and Freddie? What you really care about is what does it mean to your paycheck? Will home loans get easier? Will values go up? Will the credit crisis end?
Well here is how I see it playing out and how it will impact your paycheck as an agent...
1. Will the crisis end? The crisis is like a Hurricane. You get a squall line of ferocious storms and then the sun breaks through and you think it is over until wham, another line of storms...so you need to brace yourself because the next line of storms will be option arm loans that will reset and people can not pay. We will have to wacth closley to see how this move plays out over the next 6-12 months.
2. Will home loans get easier to obtain? The short answer is no. We now live in a full doc if you can't prove it you don't get it world and that will not end for the foreseable future, but you can prepare by qualifying buyers and sellers (YES SELLERS) on the front side! Get with a lender and get the qualified early!!
3. Will rates drop? Yes and in fact that did today. Will they stay low? Again it is a wild guess at this point. People have short memories and a what have you done for me latley attitude. Your best bet is to get the fence sitters off the fence and into contract.
The bottom line is this, things chaneg and happen all the time that we can not control, but the one thing we can control is ourselves. So to that end I ask you...
Do you have a plan? Do you have a database? and do you work everyday to meet new people and ask for business? Successful agents do, and the others look for higher ground!
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