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Who Knew Bad News Could Be So Good?
If you read the financial papers, websites and blogs each week you may be tempted to grab a prosac and curl up in a fetal position.  Some of the headlines this week read:
Fed Chairman Points to Distress as Holding Housing Sector Back 
Industry's Past Due Mortgages = 6,350,000
Forecast: Real estate recovery won't arrive till 2013 or beyond
Real estate sales stumble again in May
The truth is, this is probably the most exciting real estate market in the past three decades.  During the mid-2000s many average Americans were priced out of the housing market.  Home prices shot up so fast that many home buyers scrambled to grab a piece of the American dream that soon turned into Nightmare on Elm St, Main St, First St, etc.
Now, a lot of disenfranchised buyers are ready to buy and the conditions couldn't be better.  Another headline this week said, "Long Term Interest Rates at 'Ultra Low Levels.'" For the sidelined buyer, interest rates are better than when they were forced out of the market.  But, that's not the only good news for these buyers.  Because of the high numbers of foreclosures and short sales home prices are at new lows.  That ... more

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