Wow, what a difference a year makes. Who would ever have believed that real estate would loose more than 10% of its value in a year. These are certainly extraordinary times.
The real estate industry has been extremely affected by the changes in the financial markets like most of us have never seen in our lifetime. Today's unprecedented market is creating new opportunities that could save you money.
With interest rates around 4.75% a new home at a lower purchase price and lower interest rate could get you into that larger home that you've always wanted. Or perhaps its time to refinance into that 15 year mortgage.
Over priced homes still languish on the market, but there is another market of homes with good pricing and they are selling, some quickly. Yes, sales are down, but they are by no means dead. Those that are recognizing these opportune times are taking advantage of them. If you look at the American economy over the last 100 years you will see that every recession is followed by a boom.
This is a perfect scenario for the move up buyer! Yes, you will sell your home for less than it was worth a year ago, but you will make it up by more in purchasing the larger home that has been significantly discounted and financed at an incredible interest rates!
Extraordinary times creating extraordinary opportunities
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