It ain't over till it's over.

By
Real Estate Broker/Owner with Uber Realty

According to Deutsche bank predicts that 50% of all mortgages will be underwater by 2011. Yes there was a small up tick of prices in November. Can anyone say $8000 check from Government.

Is now a good time to buy Yes and no but mostly Know. Know what your situation is, can you afford to purchase a home. Is it in an area where there will be demand now and in the future. Is it good repair. Good schools and generally location, location and location. Make sure  to look at what will happen in the neighborhood in the next couple of years. Where all the homes built and bought between 2005-2007 if so, most will be underwater on there mortgage. Will there be walk aways? Foreclosures short sales?

Now Might be the best time to buy in recent history but know a good Realtor and know what you are buying. Know the neighborhood You are buying into because you are buying a neighborhood also. A 200,000 home in 100,000 neighborhood is not a good buy even at 150,000.

 

Jim Whatley

Broker www.UberRealty.com

 

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<iframe width="560" height="315" src="http://www.youtube.com/embed/V9vEjYe1rsM" frameborder="0" allowfullscreen></iframe>

Read a great discription By Dan Green of Waterstone Mortgage

 

http://themortgagereports.com/11157/harp-changes-no-income-needed-with-money-in-the-bank

 

Link to my post about it for brief run down. 

 

 

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Rainer
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Craig Richardson
National Realty - McLean, VA

Jim, I'm sure we're not out of the woods complely as a nation.  Since all real estate, like all politics, is local, I think there are areas that have hit bottom and are climbing back, including where I live in the Metropolitan D.C. area.

Jan 22, 2010 12:25 PM #1
Rainer
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Jim Whatley
Uber Realty - Fort Walton Beach, FL

Craig, I used to live in Vienna VA, and Loved it. Your area is the Middle of the fastest growing segment of the economy the Federal Government. That area will never shrink. That is where everyone sends a good portion of their money.

Keep selling and be an asset to your Customers.

Jan 22, 2010 12:43 PM #2
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Rainer
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Jim Whatley

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