Today's Market Could be Opportunity of the Decade for Buyers
Thursday, March 13, 2008 -

"Today's market could be the opportunity of the decade -- and even decades to come -- for the average person to pick up affordable housing at cut-rate prices," says Alexis McGee, president of and co-founder of Foreclosures.com, California-based foreclosure and property information analysts and publishers. "Homes today are available at discounts of 20, 30, and 40 percent off retail prices in some areas; choices are abundant, and inexpensive, reliable financing is now available, thanks to new higher Federal Housing Administration and Fannie Mae loan limits," adds McGee.

Even the Mortgage Bankers Association on March 6th reported record mortgage delinquency and foreclosure rates points to a slowing foreclosure spiral. However, new foreclosure starts year over year and quarter to quarter were relatively flat in Michigan, Ohio, and Indiana, states with the highest percentages of loans in foreclosures.

Could the downturn have hit bottom? "That's anyone's guess," says McGee. "But clearly our government has taken essential steps to allow the market to recover in a way that stimulates the economy, keeps interest rates affordable, and helps buyers, sellers, and investors, alike." For example:

**There is a much higher risk that interest rates will go up, the closer we get to the election. Than thinking that prices are going to drop even further. There are some killer deals to be had!! If you do the numbers you are able to qualify for more and have lower payments when the interest rates are low, if the rates get higher than you would not be able to afford as much and have higher payments even if the prices did happen to go 1% lower. NOW is the time to make the step and purchase in Las Vegas while prices are low (foreclosures & bank owned homes), plenty of inventory to choose from and interest rates are still low. If you lock in your rate now you could have a fixed low interest rate for years.

DON'T LET 2008 PASS YOU BY, AND YOU THINK BACK AND SAY " I WISH I WOULD HAVE BOUGHT IN 2008, BEFORE PRICES WENT UP". LIKE WE ALL SAY ABOUT 2004!

I look forward to hearing from you.

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