In August, I posted "Optimistic News..." on my blog and want to continue in this direction. So, I'm offering some more optimistic news - not based on my opinion, but on articles I've read or news I've heard.
For instance, if you watched Morning Joe on MSNBC on Sept. 17, 2008, you heard Jim Cramer, host of "Mad Money," offer his insight. I paraphrase his comments here, but you can watch the video online at msnbc.msn.com/id/3036789. Click on "Cramer: We're all communists now."
When asked about the bottom of the housing crisis, Jim said "we're almost there." He continued "How 'bout some optimism? Rates [interest] are lower and we'll begin to see foreclosure rates go down in the next 3 months." He did qualify that by adding foreclosure rates will go down vs. the number of foreclosures.
And more good news. . . Mr. Cramer explained that in the last 2 quarters of this year cancellation rates (i.e. people walking away from their deposits because they can't sell their previous home) have declined. He said those rates had been around 40 to 50%. However, in the last 2 quarters more people have been able to sell their previous homes and therefore they're not walking away from their deposits.
In closing he stated, "Good loans will go to good institutions. And, good people will make out in the end."
Thank you to Jim Cramer and those who stay on top of the statistics and report good news. I’m going to keep searching for positive comments to report on my blog, the Preferred Homebuyers Weekly Scoop, and in future newsletters. Whether you're buying, selling or just curious, I hope you found this helpful.
Have a great day!
Debra A. Jason, RA, ABR
When paradise is calling you, call me!
(808) 826 1846, cell: (808) 635 8031
Vision Realty All Islands Kauai - located on the highway in Kapaa, Hanalei & Lihue