The market has officially gone mad! Or, so we hear! 
It is hard to believe that every day, I can find a news article regarding the "terrible" mortgage market. Had you heard the term "subprime" as often as you do right now? Top news sources lead with stories on loans, and how they are defaulting, with various other spins on how horrible the real estate market is.
For today’s Monday Market Madness, I decided that I will give a few ideas on how the market looks from real estate professionals. In other words, not from the mortgage side, but from the market side.
For one, investors in the market for property, are delighted right now. For those who cashed out during the market “up” frenzy a couple of years ago, they have cash to invest and can look at the market long term. Right now, though rates are higher and requirements strict, real estate investors have the best market right now. There is a surplus of inventory, and prices are fair. This provides properties that are ideal for buying, and leasing. Additionally, with the number of foreclosures up, we generally see a surge in clients who want to lease property!
Today, the president of Coldwell Banker issued a statement saying that he believes what we are experiencing in the market right now will only cause a delay in the housing pricing rebound, without causing a downturn. I’d venture to say, before you believe that we are in a housing crisis like the one experienced in the late 80s, you really take a look at your market and what’s going on around you. And, just turn off the news, unless you want to hear repeated stories of doom, and gloom!
Happy Monday!
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