Housing shows signs of life!
New reports show prices were flat from April to May easing off months of decline according to Case Shiller home price index. The downward trend that has been going on since July 2006 seems to be finely be flattening out, this suggests the worst may be over. Another report done by USA today in a poll of economists, the majority felt that “the worst is over”. The survey continued with economist statements such as, housing started this recession and housing will likely lead us out. It seems to me from the field that the first time buyer credit is working to get more people buying. Mortgage rates are under 6% for most borrowers, and with the Fha mortgages the buyers are coming to closing with only about 3.5% down payment. Contact John at 727 385 -6547 to get prequalified for the Fha loan program and let’s discuss how to structure your offer to have the least money out of pocket.