Looks like our figures are finally showing what we have all seen over that last 6-12 months. According to CNN.com, http://money.cnn.com/2007/04/24/news/economy/home_sales/index.htm?postversion=2007042410, home sales and prices have dropped.
I'm sure there are a number of reasons for the drop such as sub-prime fallout, an over supply of new and existing homes on the market, and a tightening of credit for new borrowers.
Regardless, where there are challenges there are opportunites. What a great time to be in the market for a new home. Never in my career have I seen buyer's have so much power in the market.
If you're in the market for a new home and/or a second home or investment property it could not be a better time for you.
It's time to dust off the old investment property clients and make them some money. With rates remaining low and possibly headed down, opportunities are here.
Need advice on investment properties, a pre-approval and/or just have a financing question, please do not hesitate to contact me, 866-648-8231 x1004.
Sincerely,
Jim Hood, American Home Mortgage
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