Who Said January Was Dull???

By
Real Estate Agent with Benchmark Realty TN 288457

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!  

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Ambassador
837,996
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
Nice post. It may be that the stimulus package raises rates a litlle. But all in all it is a bargain out there
Jan 27, 2008 02:00 AM #1
Rainer
37,908
Kirk Williams
Private Venture Capital - Everett, WA

I agree. I have posted on my blog recently that these are the "good ol' days" now. Low rates and pricing (no one knows the bottom and no one will know what hit them when it turns) and you can wait for the crowd to run you over when things change if you want to.

In my neck of the woods things are moving. Not briskly but moving.

Regardless of who says what when or where, there is always someone with money wanting to buy in all regions.

Jan 27, 2008 02:14 AM #2
Rainmaker
304,760
ARDELL DellaLoggia
Better Properties Seattle - Kirkland, WA
The days getting longer always adds a bit of optimism and energy.  We too are feeling better about the market in January of 2008, than we did in the last quarter of 2007.
Jan 27, 2008 02:28 AM #3
Rainer
23,850
Kim Harris
Sound Realty - Kirkland, WA
Designated Broker/Owner/Sound Realty
  On the news last night one of the major bank/lending guys said that for re-fi's alone, Dec. 2007 was up 12% fron Nov.; and that Jan.2008 was up 100% from Dec.2007.(loan app.s) This is a good sign for the near future.When the public at large feel's that money is cheap the glass seems to become half full. Perception of where we as a nation is going, will do more to fix our problems than anything gov. can ever do.
Jan 27, 2008 02:41 AM #4
Rainer
3,311
Shelter Insurance® Andy Jones
Shelter Insurance® - Franklin, TN

January we good for me. I haven't thought of this before now but maybe poeple are looking for other ways to lower their mortgage payment. Quotes were up and so were new sales.

Shelter offers 20% discount on the homeowners if you have an auto policy with us. I had several single line client move ther auto over this month.

I need to call the other single line customer on Monday!!!

Andy Jones

 

Feb 16, 2008 07:22 AM #5
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Paul Moye

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