WHERE’S THE BAD NEWS?
We are two weeks into 2009 and I’m having a problem understanding why the media is so negative. It is a sign of the times when bad news sells and good news hardly gets a mention. So let’s take a look at the positive things that are happening and why we should look forward to a much better 2009.
Gas prices in the $1.50 range. That is lower than in many years and much less than just a few months ago. Where is the positive press on affordable fuel? It gives us all a lot more disposable income for fun things; therefore we do not have to spend every dime on necessities. That has got to make you feel better.
Mortgage rates are at an all-time low. As I am writing this Blog we are booking loans around 4.5% saving hundreds of dollars a month for the average homebuyer. If you are not considering buying you should definitely look into refinancing your current home. You can call any of our offices or click the mortgage link in our web site WWW.ERAKing.com. Josh Wright and Gerwin Wallace are our in-house mortgage experts. A mortgage consultation with either of them is free of charge and can be done over the phone or you can schedule a personal meeting.
Real Estate Values in Alabama have not fallen like in the high profile states like California, Florida, Nevada and Arizona. As a matter of fact in a report issued by the Federal Housing Finance Agency Alabama is one of the few states that are showing significant price appreciation gains from Q3 2007 to Q3 2008. Alabama is ranked 4th in the nation with a 2.4% price appreciation between third quarters of 2007 and 2008. You can read more about the Alabama real estate market at http://acre.cba.ua.edu/index.php.
On the political front we have a new congress and new president. Regardless of how we voted individually we have an opportunity for a new start with fresh ideas. It will be very important to the new regime to make a positive initial impact. With fuel prices retreating and the slowing global economy inflation should be held in check for the foreseeable future.
If you are in the market to buy this may be the best time in 20 years or more. The combination of stable prices and low interest rates are very rare and may never be seen again. If you are a first time home buyer you may be surprised to learn you can buy a house for the same or less than a rent payment. If you are looking to move up it is very possible you can buy more house than you currently have for close to the same payment as your current house payment.
Any way you look at it now is the time to take advantage of a rare confluence of occurrences we may never have the opportunity to see again. So log on, call or come by my office but now is the time to buy, sell and buy or refinance. We can do it all for you as East Central Alabama’s only “One Stop Shop”.
Visit Stacey's Website to see all the available homes on the market!