I was out doing some Christmas shopping today and I realized how many people were out shopping (and I don't mean just looking, but actually spending money) in spite of this "horrible economy." I understand things haven't been on the upward track they have been in recent years, but from most of the studies I've seen that weren't reported in the news media have a slightly less pessimistic outlook on our economic state.
The media's portrayal of our situation, to me, is slightly skewed and it's not helping our morale as a country and it's definitely not helping potential buyers and sellers...in fact, it seems to scare them into this state of "well, I'll wait until things turn around."
Prime opportunities have abounded for buyers especially right now. There might have been many features a buyer wanted in a home a couple of years ago, but it was out of their price range. Now would be the time to search again, and they might be pleasantly surprised to see that they can now find the aspects of a home they always dreamed of in their price range.
If interest rates continue to be cut, wouldn't it be nice to go ahead and lock in that rate for the next 30 years on your new home? I've often heard my parents talk of "we should have jumped on that opportunity." Wouldn't it be great to lock in...oh let's just say a 5.5% rate, and then in a few years when interest rates are back up in the 7-7.5% range we wouldn't be falling in the regretting missed opportunities field our parents sometimes refer to.
All we seem to be fed by the media is the negative aspects. They like to report the overall national drop in home values to be as low as they say, but they don't report that more areas of the country are holding steady (or have only dropped a percent or so) than have completely plummeted. It would be nice to hear some of the good news every now and then instead of the gloom and doom they like to flush out. That's why I think this year I might just ask Mr Clause for a change in the media.
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