A headline in the Seattle PI today reads "State's home sales drop biggest in U.S" this headline might scare the crap out of some people, especially Realtors, and it might give more confidence to the " I told you this market is gonna keep crashing" folks. Come on, you know who I'm talking about. Kind of like my grandpa, whose every story ends with "then he told me, You were right, and I should have listened to you all along."
Anyway, this drop was expected, as it takes our region some time to catch up to the rest of the country. which brings me to the good news. Home sales in Nevada and Phoenix (two of the hardest hit areas) have seen their existing home sales double in the month of September from last year.
There are also lots of measures being proposed and taken through Fannie Mae and Freddie Mac, FDIC, Citigroup, and Congress to provide relief to distressed home owners, and provide incentives for buyers.
Look, I'm not saying that all is honky-dory (you like that expression?) This is a difficult time, and it will take patience and perseverance to get through this. but the bottom line is, we will. And if you are able to buy at this time, do it. what better time to buy when rates are low, and prices are down. Stop earning equity for your landlord, and start earning it for your self.
Until next time,
Honky-dory
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment