With the Federal Tax Credit expired, mortgage interest rates at their all time low, values down 20-80% off the peak and a pent up demand for housing, just where is this market going? If I knew the answer, I’d be Warren Buffet and even his crystal ball is in the shop…

My best guess, is that with the numbers of defaults continuing, especially on loans over $1Million, we have not seen the end of the housing collapse; which makes this, an ideal time to buy! Many buyers are paying less for a mortgage than they are for rent. Most of that is because of low rates. When I bought my first home, the rate was 8.87%…and that was a good rate. Believe it or not, there are many markets which are still entertaining multiple offers. 

The time to buy is not when the economy is surging upward, rather it is when blood is running in the streets.