The Price is Right and the Big Sale is ON!

The Price is Right and the Big Sale is ON!
Thursday, February 21, 2008


SACRAMENTO, CA - Housing markets are H-O-T! Despite soaring numbers of foreclosures and in many areas dropping home prices, now is the time to buy real estate.

That's right. Interest rates are at near record lows, buyers have lots of choices because inventory is abundant, and most importantly -- the price is right! "Who doesn't like to buy quality product at 30, 40, 50 percent and more off retail prices?," says Alexis McGee, president and co-founder of Foreclosures.com, the California-based real estate publisher that's been analyzing and publishing real estate and foreclosure data for more than 20 years.

"The real estate sale is on," adds McGee, "I'm not advocating rampant speculation or stealing a property out from under a homeowner on hard times. What I am suggesting is that now is a great time to invest in real estate -- either as your residence or as an investment. Home prices will rebound -- if they haven't already -- in your area, so it's the buy low, sell high and/or buy low/hold and prosper theory," adds McGee, author of The Foreclosures.com Guide to Investing in Pre-foreclosures Without Selling Your Soul (Wiley 2007) and The ForeclosureS.com Guide to Advanced Investing Techniques You Won't Learn Anywhere Else (Wiley, Spring 2008).

"Don't be scared off by the gloom and doom talk swirling around housing markets either. It's a S-A-L-E. Plus, the news isn't all bad, either. Interest rates continue at record lows. Not all housing markets are depressed. The most recent LoanPerformance HPI (tm) that tracks home price trends, showed 31 states with gains over the past 12 months.

"There are brighter spots in some economic numbers, too. Unemployment is below 5 percent; foreign orders for durable goods show persistent strength, worker productivity continues to climb and exceeded forecasts in the fourth quarter as companies held down labor costs. The latter is a sign that inflation pressures may recede.

"Housing starts are down, too," adds McGee. "But that's a good sign in part because that means, unlike previous downturns, builders today are compensating for slower markets with slower construction until supply and demand stabilize.

There's even more news to celebrate. The stimulus package that was just passed by the Senate is a huge BOON to homebuyers and refinancers who can take advantage of bill's increased mortgage market provisions. That portion of the bill will give more of a long-term financial boost to the economy than the tax rebates of $600 directed to individuals, $300 to children and $1,200 to couples.

The stimulus package included a provision that will raise the conforming loan limit to allow Fannie and Freddie to purchase or guarantee many jumbo mortgages originated between July 1, 2007, and Dec. 31, 2008. The increase from $417,000, to as much as $729,750 in high-cost areas (125% of the median price), will also apply to Federal Housing Administration loan guarantee programs.

This will absolutely take the many buyers off the sidelines, grabbing deals and propel our real estate market BIG TIME as soon as these new loan limits take effect!

"What's the bottom line? The bottom of the market is coming. If you do your homework, pay attention to your local markets, make sure the price is right -- as in at a big enough discount -- obtain the right kind of financing, you can capitalize on the big sale and pick up a solid property at a good price. But don't wait too long. Today's sale is for a limited time only!" adds McGee.

Search for a historic home in Phoenix, AZ and contact Laura B. with DPR Realty, LLC today at 602.400.0008.

http://www.historiccentralphoenix.com/index.html