If World Markets are an indication of what is ahead for the US markets today, expect another sell off ahead of more earnings reports throughout the week. After the Market closed yesterday, ALCOA reported a larger than expected loss and it's shares dropped over 1.5% pre-open this morning. World Markets are down about the same percentage with Japan's Market leading the way at about 5%. Citi concerns will continue today, and shows just how interconnected all Global Markets really are. Analysts have changed the outlook for Large Financial institutions, now upping predictions for 4th quarter losses as well as lowering income projections for all of 2009.

The 10 Year t-note is opening slightly higher than it closed (up about .01%), but I would think this will begin to trend the other way after the opening bell as traders seek safer bets in the wake of the weeks earnings barrage.

I found this article to be interesting when I read it this morning. These are the top 5 areas for retention of property values. Two of these markets are right here in my back yard in Western/Central NY.

5 Strongest U.S. Housing Markets, by Metro Area

by Deborah Orr
Friday, January 9, 2009 provided by

McAllen, Texas
Population: 784,900
Bottom expected: N/A
Forecast price change to bottom: 0%

Syracuse, N.Y.
Population: 647,200
Bottom expected: N/A
Forecast price change to bottom: 0%

Pittsburgh, Pa.
Population: 2,346,800
Bottom expected: end 2009
Forecast price change to bottom: -0.3%

Buffalo, N.Y.
Population: 1,118,100
Bottom expected: mid-2010
Forecast price change to bottom: -1.0%

El Paso, Texas
Population: 795,800
Bottom expected: mid-2010
Forecast price change to bottom: -1.0%

So, while news is pretty glum these days, realtors in these markets should be counting their blessings and should be looking for ways to satisfy buyers and sellers in these areas. It has never been a better time is these markets.

I look forward to hearing from any real estate professional in these areas. I am here to help you sell homes. While bank lending may still be a tough go, having a mortgage professional with access to all possible products can help you through the financing arena. That is my pledge to you.

THIS IS MY OPINION ONLY AND NOT THAT OF EAGLE NATIONWIDE MORTGAGE CO. ALWAYS CHECK WITH YOUR MORTGAGE PROFESSIONAL REGARDING YOUR OWN TRANSACTION