Market Realism

Economic downturns provide ample opportunities to make money.
Remember - Most Sellers are also Buyers. If you sell at a discounted
price and you have purchased from the mid 1990's through 2005 your
home possibly appreciated up to as much as 80%. So now you have to take a
discounted price of 10 to 20%, you still made a nice profit.
When you go to purchase another home you have the advantage of a buyers market,
which means that there are many homes and few buyers. Your purchase price
will be discounted at the same 10 to 20%, possibly more with a highly motivated
seller. The interest rates are as low as 5.50% this week also.

However, if you decided to do a home equity loan to purchase a vehicle,
pay off credti cards or do remodeling, then you may have a situation
where you would need to bring cash to closing. If you don't need to sell
and you find yourself in this situation I'd suggest you wait until the market
changes. However, it may be a good time to refinance if you are in an adjustable
rate or interest only mortgage plan. Interest rates are favorable so check it out.
We have some favorite lenders that we recommend because we know they will not
take advantage of your situation. Call us for their names and telephone numbers.

We are anticipating that we will work even harder this year, but remember
there are always people who must sell and must buy. The real estate market is
not dead!!!!