Not Only is the Sun Shining!!
Thankfully the rain has let up in some of the most rainy areas of the country and those ravaged by storms. If only California could get more rain and take out the fire!!!
I hope that you already caught the update on the sun shining on the economy also!
USA Today reported what many of us in Real Estate know....more home are getting multiple offers and/or getting contracts more quickly. Yes, in areas like California, it is due to prices being down 39% . But in strong areas like Hampton Roads(Virginia Beach, Chesapeake, Norfolk, Portsmouth, Newport News, Hampton, Suffolk and Smithfield), the improved "news reports" are the driving force. Consumer confidence is rising as the 5% mortgage rates and $8000 1st Time Home Buyer Tax Credit is talked up by the likes of Suzy Orman, Oprah and so many more.
The reduction in job losses, though still very tough on those losing their position, has given a bounce to the Stock Market, a leading indicator, that better days are ahead.
Historically, the Stock Market, Housing Market and Labor Market are linked as we all will spend money we have rather than that we don't have...or won't have as the job is gone.
Thus, don't sit on the sidelines and let a great housing market slip by. IF you have a solid job and have that downpayment, nows the time to lock in a 5% and lower rates that will save you money for years to come!!
Looking for Brighter Days Ahead!!!