January 31st, 2008 10:10 AM by Lehel Szucs
First, the bad news:
Home values are dropping and will more than likely continue to do so in most markets through 2008.
Prior to seeing a recovery in housing prices, values may remain flat for some time.
Since July 28th, 2007, the lending industry has been shaken up due to the downgrading of mortgage backed securities
Mortgage Lending guidelines have changed due to dropping home values and an increase in mortgage defaults.
The Index of Leading Economic Indicators (LEI) suggests we are heading into a recession.
The stock market has dropped like a rock since January 1st, 2008 Now the Good News:
Money has flowed out of the stock market and into Mortgage BondsConforming interest rates at best levels in over 2 years (Jumbo ARMs very good too).
Excellent time to purchase a new home as values have come down to realistic levels.
Excellent time to refinance before values potentially drop further. Consider the following:
Should you, or someone you know, like to take advantage of the 2+ year low in interest rates, please contact us now for a free consultation and report.Please take advantage of this now by giving us a call.