Friday, January 25, 2008

"Here we go!"

This is my first venture into the realm of blogging, so please be gentle with me. I hope to use this blog as a vehicle to convey real estate related information, ideas, and MY OPINIONS, and that it will become a useful tool to all of you who use it. If any of you have any ideas on what you would like to see here, let me know. I'll do everything I can to provide you with that information you will find most valuable.

In the meantime, don't believe everything you hear or read about the RE market. Yes, home values have declined over the last 2 years. And yes, there are problems with the sub prime loan market. But, those problems represent a VERY small percentage of the RE market as a whole. On Nov 29, 2007, RealtyTrac.com reported that ONLY 1 in every 555 households in the US was foreclosed in Oct '07. In VA, it was ONLY 1 in every 1261 households...does that sound like a crisis to you?

If you have good credit and solid, proven income, NOW really is a great time to buy a home. Interest rates are VERY LOW, and home prices are at their lowest level in 3 yrs. Unless you have to sell a home that you owe more on than it is worth, this is a great market.

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