Some sobering news to many as was myself. I just got off MLS and was shocked to see 224 homes have sold or now pending inLivermore since Jan of this year!!! Now those are some numbers! I have not seen this many sales in 13 weeks since the early & mid 2000's. Now that price's & rates are down we have tapped into a new pool of buyers. 77% of buyers out there are first time buyers. 83% of loans originated under $729 are FHA loans. This kinda scares me thinking that reality is the Government now not only is trying to take away all our rights slowly but surely now they are going to own most of our homes yikkkkkks opps got off tract there.....so anyway back to real estate. We are simply creating a new foundation of buyers who are in solid 30yr fixed loans, well paying entry level stable jobs and can & will more than likely be able to pay their payment as if they passed through all the red tape on an FHA loan these days YOU ARE EMPLOYED SEASONED AND STABLE or you simply wont get a loan these days. So onword ho..........to the new foundation of buyers, future economic conditions getting better by 2015(what they say) and low prices & rates that remain low the housing market is cooking. Also once we see the short sale/foreclosure supply going away this will also limit inventory as its limited now. If prices stay low, rates low & less inventory AND the economy picks up this is the PERECT storm for equity to start going up. Obama admin just passed a bill yesterday as well offering $3000 moving expenses to anyone who completes a short sale on their home if they know they are going to walk. This will expedite the process of the turn time and get a home sold when an owner knows they will probably have to walk. Ive heard loan mods are getting easier as well......if you've purchased a home in the past 2 yrs soon you'll be glad you did. If you are "thinking about it" or "waiting to see how things go" or waiting for the "perfect time" you think it is to buy, guess what? if history and economic conditions repeat themselves you could look back and say "man if i would have bought then.........Steve Eveleth http://www.steveshomesearch.com/
Steves videos
http://www.steveshomesearch.com/bin/web/real_estate/AR202865/EXTRA1/1/Livermore/1270493989.html
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