How low can it go??? For how long???

At the risk of being repetitious, I've had one lingering thought since my last blog that has been keeping me awake at night (literally some nights) regarding you and the refinance or home buying market today. I'm not going to bore you with what the Fed. is doing and how mortgage backed securities just recently became a lucrative investment for investors and blah, blah, blah....here's the reality of all that you're hearing and reading on the news and in print. The housing market is starting (albeit extremely slowly) to come back around whether or not there is a Republican or Democratic President, the sun is shining, it's finally spring or whatever excuse you hear from the talking heads. One thing for us to consider is that (the following is fact), N.H. was really one of the least affected area's in the U.S. by this housing crunch by far...don't think it's true? Look on the Internet anywhere in FLA. to see what you can buy housing for down there. Again, as I often mention, this is our opinion on the market and based on the current trends we're actually dealing with from day to day in real time. The American people have only so much patience and if you ask me, it's us who will end the recession, not a government backed stimulus package or who the Secretary of Treasury is...no to offend again, our thoughts only. But, if we're right...here's the deal. We are consumers at heart and it's very likely we've all cut back in one way or another for at least a year or two at this point. Some of us have lost jobs, homes and far more in some cases. What's happens in our opinion is this, say what you like about the state of this country or the economy but one thing historically remains true. We are, at the very least, resilient. We can only take things for so long before we say "enough"! We're heading in that direction folks. Where does this all come together? We're getting tired of it all and I hear it everyday. People have started to find ways to overcome whatever their personal situation and moving on with their lives. We're tired of waiting. If you think the investors and lenders don't pay millions of dollars to watch what we do and when we do it, think again. They check our tolerance in different ways in different markets and in mortgage and real estate by adjusting rates to see how we react. The price of real estate follows the trend and before you know it, the home you've been watching just went up 5K instead of down. Tough way to find out the market has bottomed out huh? We're getting ready to say enough and that means sellers as well. Many have reached their threshold and will now hold firmly on price (including bank owned properties) because of this reason alone. We're stubborn and when we say enough is enough, we mean it. Take this into consideration while your waiting for the rate that's being promised to you on the radio or go on the web to find the home you've been eyeing is currently listed as sold all of the sudden. Think of it this way as I leave you on this sunny (but chilly) day of Spring...take a situation in your life in which you have been challenged, how far could you be pushed before you pushed back or halted the situation by whatever means it took. We've all been there...how much more can we as a country take? I have a feeling we're at the breaking point, follow your heart folks,but, don't let it cost you 5 grand or more. It can't pay you back ;) Enjoy your day and as always, contact info is at the top of the page, let us know of any specific questions we can help with, we're not attorney's so all advice is free!!!