Best News in a Decade for Home Buyers

AP- Steeper Decline in Home Sales Predicted

Wednesday October 10, 11:38 am ET By Alan Zibel, AP Business Writer

Realtors Group Slashes Forecast for Existing Home Sales, Predicts New Home Sales Will Be Weak
WASHINGTON (AP) -- This year's decline in existing home sales will be steeper than previously anticipated, a trade group for real estate agents predicted Wednesday.
The eighth straight downwardly revised forecast from the National Association of Realtors calls for U.S. existing home sales to be 10.8 percent below last year as housing market woes persist. Sales of new homes, meanwhile, are expected to finish 2007 at the lowest level in a decade....read complete story

Wow...what a surprise!!?? If you had been thinking about buying a home and have been hesitant because of these home sales reports of doom and gloom, I submit that you are reading the stories from the WRONG point of view. If you were thinking about a quick fix and flip for a quick easy profit, you will have to wait a while. The housing market is not currently suited to that approach in most instances. It is buy smart and hold for the most part.

If you were planning to buy to live in the home for around 4 years or longer, now is the time to make your move. Your negotiating position has never been stronger. There are lots of homes and hence a great selection, WITH LITTLE COMPETITION FROM OTHER BUYERS. I put that in bold letters for a reason. This is why you will get a legendary deal today. When the masses finally figure this out in the next year or so...the market will get tougher again for home buyers. It is the law of "supply and demand".

The secret to getting the best deals is to act before the other folks jump on the bandwagon.

Why buy now Richard, why not wait for prices to drop more?

1. Great selection. That is now. There will be a massive fall off in listings soon as frustrated sellers quit or decide that they don't want to give away their homes. There already are many frustrated Real Estate agents leaving the business from not selling their listings. Find your dream home easily without the hassle.


2. Large number of motivated sellers that NEED to sell. They aren't getting large numbers of buyers bidding anymore. They are lucky if they get 3 or 4 showings in many cases.


3. Low interest financing. These are the GOOD loans, not the stated income or adjustable interest rate ones that have made the news. You will lock in on a good interest rate now before a recession happens that will drive up the interest very high almost overnight.


4. Tax savings now from home ownership. Each year that goes by, you loose tax deductions that could be in your pocket helping you get wealthy. Money has a snowball effect when it is saved due to compound interest. (*Consult your financial advisor for your specific situation)


5. Increase in equity by reduction in mortgage through paying it down.
6. Increase in home value over time. Home prices have steadily increased historically through wars, recessions and depressions.
7. Live in and watch over your investment. Can't do that with stocks and mutual funds.

What do you think about this? I am interested in your opinion :-)

Pros fess up to their retirement-building blunders

This is a REAL EYE OPENER. These are the ones that had the courage to disclose this information to the public. I think there are certainly worse blunders that no one will own up to.

We all make mistakes. But when they involve retirement, serious mistakes can mean working till you drop instead of retiring in style. Invest too conservatively? You could fall short of cash in retirement. Too aggressively? A market downturn could wipe out your savings....read the full story here.

What do you think about this story? Let me know.

Find out how to buy a home or investment the smart way.

Have a Great Day,

Richard