Local Unemployment Concerns
Good Monday Morning!
There is great concern over rising unemployment and the continued economic slowdown. This concern is certainly justified and we are all impacted by this either directly or indirectly. From this economic situation we are seeing some things that are good. Prices on most consumer products are dropping, there have never been so many sales and even gas prices have come down substantailly. Home prices have lead the way in reduced costs and we are now seeing the prices of homes roll back to where they were 4-5 years ago in many cases. Lower home values means opportunity and for those who may be in a position to purchase a home whether it is for a primary residence or for investment, there really has never been a better time to do so. Obtaining mortgage loans can be more challenging than in the past, but rates remain extremely attractive.
Many ask me whether we have hit bottom in this market yet. My standard answer is that I just don't know. My guess is that we are close. Reality is that we will never know when we hit bottom until the market swings the other direction. For that reason it makes sense to take action soon if you are considering a home purchase.
THIS WEEKS HOT HOME LISTING!
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547 Collier, Springfield, Oregon
Description: This very elegant 1-level home is situated on a quite lot with a beautiful view from several patios of the mountains and valleys. It features a beauifully living room with a vaulted ceiling, fireplace .... |
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
