Do you think there is a relationship between the recent good/bad economic news and foreclosures?
I just got prequalified and was wondering if I should wait or go ahead and make a purchase.
Thanks,
dlb
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The longer you wait the better prices will get!!!
Look around, it ain’t getting better that’s for sure.
In 2008 5 times (5 TIMES) the number of ARM’s will re-adjust.
The stock market is going down the tubes :flush
Foreclosures are hitting records every other month, prices are falling.
Check the posts of… NJREstudent …he just put up a beauty this week concerning your very topic. It’s an interview with a VERY well respected Swiss Banker. He has some VERY scary thoughts on the outcome of this mess.
I’d wait and/or start making LOW BALL offers on properties you know people have to sell. Ie. they already purchased another home.
If these offers aren’t insulting they’re too high.
My opinion.
Thanks for the response. A question; you stated,“In 2008 5 times (5 TIMES) the number of ARM’s will re-adjust.” Five times what?
The way I see it is that if the economy is getting better, in terms of employment and salaries, then more people are working and making money. The smart ones will wait until house (non-foreclosure) prices hit bottom & then make a purchase. Those that want to get into a house but do not have the required credit, cash, … and do want to but a foreclosure have the pick of the market. Now, that implies that foreclosure prices will sink and so will the associated income.
I’m not quite sure how I will proceed.
I will read the post by NJREstudent. Thanks for the tip.
dlb
.
Five times the number of ARM’s that re-adjusted in 2007!!
Your seeing this foreclosure news all over the place, multiply this years foreclosures by 5 times and you’ll have a picture of what 2008 will look like.