Sure in the short run property value will flucuate . On the other hand, it is one of the best long term decision a person can make. Right now guidelines are getting a little tighter for lenders. That is a POSITIVE thing because fewer people will loose their homes.Lenders have to hold on to more of the loans that they are lending out, making it so lenders can lend out fewer loans. It is all a balancing act right now
There is more than one lender out there. So sure it means less cash flow for realitors and loan officers, but it is for the better. Besides people are pretty creative as far as cooking up some good loan possiblities.
So many people are purchasing homes they can not afford. This does not mean people will not be able to purchase homes any more. It is always a good time to buy. All it means is, people will be forced to only purchase homes they can afford. What is so wrong with that? If someone doesn't get their dream home right away, shoot! build some equity and develope ones buying power.
(picture from www.mortgagesavercenter.com)
I love being well informed on what is happening. It is crazy how hard it is to get PLAIN information from the NEWS without all of the scare tactics that are attached OR their opinions. Which is why i try to find the same information from other sources. Everything I hear on the NEWS right now makes BUYERS want to stay away from purchasing a home. When I watched a few different reports on the NEWS today, all i heard was negativity. Why is that? I heard some GREAT THINGS about the FED today that was slightly turned negative:
FROM CNBC.COM "Treasury Bonds Fall Slightly
2:15 PM, August 10, 2007 | Source: The Associated Press | Relevance: 51.766%
The U.S. Treasury bond market headed into the weekend in a much calmer mood after the Federal Reserve injected extra funds to the tune of $38 billion to ease financing strains." The Journalist later said " Is that Good Enough for our economy?" All I am thinking at this point is "shoot were are lucky they are injecting any funds into the financing strain" Of course that is good enough because it is something.
The Point- Buyers, don't let anyone tell you you can't do it or it's a bad time. It's never a bad time.
Comments(4)