Thursday, March 22, 2012

Week in Review...

Thank you Tom Sherman and Benchmark for today's awesome information!


As I am sure many of you are aware, the last few weeks have seen a lot of activity in the financial markets. First of all, we have seen the stock market set new highs and the economic news has indicated a recovery. This has lead to gas / oil prices increasing to their highest level in years, as well as interest rates increasing to their highest level of the year. Add to this the fact that we have also been alerted that FHA will be tightening it's guidelines on April 1st, and all we can say is WOW! A lot can happen in a few weeks!

Needless to say, we have known for some time that these changes were inevitable. Rates can not stay this low forever, and FHA can not keep it's guidelines so loose forever. All in all, these changes mean that fewer people will be able to qualify for homes in the coming months. It is imperative that we remind our sellers and buyers that these changes will potentially affect them, and they need to be ready to address these changes in one way or another.

The good news, however, is that these changes are all pointing to an improving housing market, economy, and economic growth. Again, yet another reason that the time is now to buy a house! Warren Buffett agreed, saying last week that anyone who could buy a house needed to do so!!

As I write this article, I am reminded of the simple principle that lack of action in anything results in lack of results. Now is the time to do something!

Make it a GREAT day!

NMLS# 188788

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