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THUD!..... The Sound of the Bottom of the Housing Market!

By Greg Flanagan

Real Estate Agent with SCSold.com Real Estate SC RE Broker #58573

September 09, 2008 04:23 AM

THUD!

The Sound of the Bottom of the Housing Market!

With the takeover of Fannie Mae & Freddie Mac by the Feds I would say we have seen the bottom of the market.

We are now in a recovery period. Interest rates will decrease (Today 5.625 fixed no points), Home prices will begin to increase.

How long is the recovery period?
I have no idea. A year or so? I do know that home prices won't be going down. Smart buyers will take advantage of the lower rates during the 4th quarter. All bets are off after the new year when a new administration will have control over this federal program.

Buy now while both parties are sure to pander to the electorate in the hope of gaining votes.

Any questions or if you think I'm way off base, let me know.

www.ThatGuyRealEstate.com

Greg Flanagan is a SC licensed REALTOR associated with Exit Realty Charleston Group in Mt Pleasant, SC. You may contact Greg at 843-818-8867, gflanagan@exitcharleston.com or www.ThatGuyRealEstate.com

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Chuck Carstensen

RE/MAX Results - Elk River, MN

Minnesota/Wisconsin Real Estate Expert

Those rates look good and we are certainly near the bottom if not at.

Sep 09, 2008 04:33 AM

Rob & Jeannie Steward - Realtors®

RE/MAX Advantage - Nashville, TN

We Work TWICE As Hard For You! - Ashton Group

I've heard this thud coming from several different directions recently. Donald Trump, NAR, Jim Weichert, ect.

So is this merger move of the 'FM's' a 'more of a sure thing' for the thud proclaimers?

Sep 09, 2008 04:34 AM

Manolis "Manny" Sfinarolakis

Keller Williams Realty - West Hartford, CT

Greg,

I think you are right. This is definitely the beginning of a long period of recovery. I think by the 1st half of 2009, banks will become stabilized and the mortgage mess will be under control.

Very good point, and I like your firm stance.

Kind Regards,

Manolis

Sep 09, 2008 04:37 AM

Team Honeycutt

Allen Tate - Concord, NC

I sure hope you are right. What you are saying makes sense.

kathy

Sep 09, 2008 04:41 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

Is this a turn signal?? A buy signal??? Hope you're right!

Sep 09, 2008 04:44 AM

Ernie & Barb Suto

Century 21 Preferred Realty - Pompton Lakes, NJ

Hooray!!! Light at the end of the tunnel!

Sep 09, 2008 04:57 AM

Ed Lopez

Vantage Realty Group - New Bedford, MA

I do believe we will hit the true bottom this winter before the light of spring shines on us all.

Sep 09, 2008 05:01 AM

Pam Dent

Gayle Harvey Real Estate, Inc. - Charlottesville, VA

REALTOR® - Charlottesville Virginia Homes / Horse

I like all of these predictions. They make sense to me. Now we just need a little bit of luck.

Sep 09, 2008 05:03 AM

Ilyce Glink

Think Glink Media - Chicago, IL

Best-selling author, award-winning TV/radio host.

With the thud occurring I have been hearing a lot about refinancing, but unless interest rates go really south I won't be planning on refinancing any time soon.

Sep 09, 2008 05:11 AM

Kristin Moran

Owner - RE/MAX Access - KristinMoran@Remax.net - San Antonio, TX

San Antonio,TX - Real Estate - 210-313-7397

I just think it's interesting how one day it's gloom & doom and then next things are looking up. NOT complaining.

Sep 09, 2008 05:18 AM

Royal Goodman

Royalty Home Solutions - Madera, CA

"We Treat You Like a King"

Greg. I hope it is the bottom. We are all ready to get back to business. Royal..

Sep 09, 2008 05:42 AM

Susan Laxson CRS

Palm Properties - La Quinta, CA

Realtor in San Diego, CA & Naples, FL

The housing market certainly has been a roller coaster ride... the news the other day was that in certain markets there is 11 months of inventory! I hope in our market, that with the lowering of interest rates, the homes will start selling again.

Sep 09, 2008 05:50 AM

Something else to keep in mind. Looks like the pending merger of Fannie and Freddie have indeed achieved the desired affect. Our in-house finance officer rushed back from the MAR (Maryland Association of Realtors) Conference to lock in some loans. Having a rapid 1% reduction in the interest rate makes people jump off of the fence. HELOC rates go down as well.

Every time this happens we see properties everywhere miraculously go under contract without fail.

Good news indeed!

Sep 10, 2008 02:00 AM

THUD!..... The Sound of the Bottom of the Housing Market!

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