As we come to the end of January it is almost surreal what we have seen as begin this new year in real estate.
The stock market is trending downward, the Bush Administration finally realized there is a problem with the economy and Bank of America will soon be the largest single home mortgage company in the world. All in all quite a lot has happened in what is traditionally a slow and uneventful time of year in our industry.
As we approach the Spring we will begin to see if the Stimulus Package will actually do anything to energize the economy and is home values will level off allowing owners to begin refinancing their Upwardly Mobile ARM's to stave of foreclosure.
I actually feel more confident at the end of January than I did as we rolled into 2008.
The truth is we as Americans all want these issues resolved despite our political affiliations so with that in mind remember that this is an election year and we will have a new President. 1/3 of the Senate is up for re-election and all of the House of Representatives are up for re-election. With so much public emphasis I feel we have seen the worst of the housing market mess. Remember that the elections will give the major news Agencies something to do that beat the drums of gloom and that in itself will relieve a great deal of the anxiety.
Here is to an interesting January 2008 and an even more interesting February!