09/03/08
09:42, 3rd September

Long term fixed rate mortgages have gone down a little since the last week. While short term indexed ARMS have remained about the same as last week. There is no panic in any of the markets we observe so far, at least locally. Mortgage lenders and loan officers are fading like flys in an ice storm, and contraction in the real estate brokerage business is rife. The best survice and prosper, and like you, prudent and well capitalized people will prosper and grow in these times of tremendous opportunities. We will always have the "havers and havers-nots in this world. Prudency vs. profligitous mentalities. Selling time for most homes for sale is increasing, while supply is increasing which portends a tighter market and probably lower prices in the offing. Sellers are getting desperate as time lines on sales are extending further..the worse is yet to come, I believe, so sharpen your pencils. We see more good deals for buyers and investors..lower prices and better terms! Note that the mtg. mkt. is very soft, which means that demand is pent-up, meaning that as rates move down and home prices move down an explosive bying binge could be on the horizon, and watch for foreign buying of our realty properties with their cheaper currencies..could portend an unexpected correction in over-supply of housing...so be ready to pull the trigger. There is plenty of $$ for good credit risk buyers!! Call one of our professionals for dealer/broker references that can put you into the profit and opportunity mode...remember, "SUCCESS FOLLOWS SUCCESS!" Please call any time if you have any questions or have need of assistance. Best to you: Tom Jacobs, C.E.O EDGE 503/620-4060