No doubt about it. the first quarter of 2008 was so depressed that overshadowed the entire outlooks of the year. The stock market plunged more than 1500 points, Bear Stern’s debacle, US dollar buys less for consumers and the entire housing market’s melting down.
That’s not the end of the world though. The life must move on and I have a bit of optimistic view.
Tis’ the season for home buyers!!!
The Fannie Mae and Freddie Mac’s new conforming loan amount ($729,750 for California) and regulations. Around 5% of 30 year-fixed conforming loan rate and ample amount of inventories. Home shoppers what are you waiting for?I heard rejections such as: what if it goes down after I purchase the property….
Think of the money you saved if the interest rate goes up to 6%, the interest deduction you can enjoy on your income tax return this year…
Investment always carries risks. Buying house is every American’s biggest investment in life. Timing is very important, if you wait, you loose.
I heard in a foreclosure auction weeks ago in East Bay, there were 2000 people present to bid for a handful of distressed properties. Those people with risky minds are the winners. Because this is the best time to jump in and get good bargains.
Let’s welcome April with fresh new attitudes and optimistic minds.