by Kevin Monahan
Yesterday, Nov. 4th 2008, was a historic day for the future of this country. We have elected a man who has morals which keep him far left of center in his political views, a man who doesn't have much experience in Washington D.C. at all, but might possibly make up for all that with how inteligent he is. Now that all those facts are out in the open, the real question is where does this put us as first time home buyers?
Basically Obama and the democratic majority in the House and Senate are going to try and resurrect us from the economic down slide we are in. If the new administration can pull this off, then it spells great things for the ‘first time home buyer.' First, if we can get ourselves out of the credit crunch, sellers and buyers are going to be in better positions to work with each other, simply because there will be more qualified buyers. Second, the bail out of wall street should give the banks more money to lend and also the bail out will hopefully wake the mortgage companies up from their shady practices of the past that got us to this situation in the first place. Lastly, the unapproval rating of the Bush Administration is going to have just as much effect on the economy as he has had, just in the other direction, people are now confident in their choice for president and will put more into the government.
I stress that now is a great time for a first time home buyer to get into a new home or condo, if you have the credit. Those of you without the GREAT credit, your time is coming, make sure you are keeping an eye out because you want to get in on a deal while prices are low and credit requirements get more relaxed. (Just a bit of advice if your credit score is just a few points off from the 640 you need for a home right now, check into a credit repair system and if you can't find a good one let me know and I'll help you out.) It's a great time to be a First Time Home Buyer.
For more info on the economic and other plans of Barack Obama visit https://www.barackobama.com