For those negative people out there who sit around and complain about how bad the market is, Here are some facts that may change that negative thought process into the positive. The trick is to look at the positives in the market while putting less emphasis on the harsh conditions of the market that we operate in. According to Bankrate.com, mortgage rates continue to fall. The average 30 year conventional has fallen from 5.92% to 5.8%. This quote from a credible finance scholar in a Washington Post article written by Daniel Wagner states: ” Government efforts provide easier credit to consumers and jump start flagging home sales could push mortgage rates “well below 4 percent.”
Some other great points that I feel I should point out are:
- A third quarter survey released by the Federal Housing Finance Agency showed that out of 292 markets, 273 showed positive increase in value over the past 5 years
- The survey also concluded that prices were down nationally about 4%