Bright Spots in the Economy

I am always looking for positive signs in the economy. Last week i shared an article with you about Pittsburgh, PA (congrats to the Steelers , yesterday) that had their unemployment below 5% and their home prices 3% above last year. There are other economic bright spots:

• Fort Mill, SC prices are stabilizing. the Average price of a December home sale was -3.55% less than last year, but was on a 5% smaller house.
• Hourly wages in December were up 0.3% and 3.7% over December 2007 with an expected decline in the CPI of 1.2%, that would make wage growth the fastest since 1972.

There are still many viable mortgages available out there for primary residence purchase. It is not as bleak as the media makes it. Yes, it is more difficult than it was a few years ago. With good credit and viable income ratios many homes could easily be purchased. Get completely prequalified down to the credit reports and supporting documents of income and assets (everything except the purchasing contract and the appraisal), know what you can spend. Find the property you want at your price, then make an offer with the help of your loan officer( he can help you structure the offer better with sellers providing some of the closing money) and RE agent.