Opportunity Always Looks Like This

If you pay attention to the news lately, you are undoubtedly concerned about the housing market. The news paints a picture of hoards of homeowners losing their homes to foreclosure. It tells the story of “evil” subprime mortgages destroying the American dream. It peddles the fear of declining home prices and the inability of anyone to obtain a home loan.

Be careful what you believe. Having spent ten years as a radio broadcaster, much of that time in a newsroom, I can tell you that fear sells advertising. The news business has a slogan: If it bleeds, it leads.

That said some of what you read, hear and watch is accurate. Home prices have been declining, foreclosures are on the rise, and it is tougher to qualify for a home loan than in recent history. But let’s take a closer look at is really happening.

1. Home prices are down from the highs of a few years ago, but historically prices always rise.

2. Foreclosures are up...but the reality is 99.3% of all mortgages are current.

3. It is more difficult to qualify for a loan than a few years ago, but the truth is if you make a consistent income and have good credit, you can get a home loan.

We'll go further into those three points over the next month.

Until then, Live Your Dreams!
Dave

Until then if you have any questions, give me a call at 610-318-1317 or email at Dave@TheMcGheeGroup.com.