Fred Mannila

Falling home prices are a great opportunity for move up buyers. Even though your home sale may be lower, the smaller loss at sale can be compensated by greater savings at purchase. If home prices dropped by 5%, here's what it could look like if you decided to trade up: (courtesy of Realtor Magazine and "The Shift" by Gary Keller.)

OLD HOME PRICE = $200,000
Sell at $190,000 = $10,000 less

NEW HOME PRICE = $400,000
Buy at $380,000 = $20,000 savings

Get while the gettin's good! Interest rates are great and there's a ton of opportunity to buy a home with instant equity!

Are you kidding me? Can you really go out and get a 30 year fixed mortgage for 5.01%? And in some circumstances, even lower!

I know the economy is questionable. But if there has EVER been a time to go out and scoop up as many real estate deals as possible, that time is now.

I have been hearing of people buying homes at 50 cents on the dollar. It's absolutely incredible.

If you or anyone you know is interested in purchasing a home in the state of Oregon, please feel free to email me directly at fred@fredrealestate.com or call me directly at 503.422.7653 or 541.647.8322.

As the holiday's are upon us, it is time to remember the one's who are in need. The one's that are losing their homes, the one's who have lost their jobs and their retirement savings, the one's who have friends and family in the military that will not be with them during the holidays. The one's who have a sick friend or family member.

Through this economic downturn, I have really come to realize and appreciate what is important in life. It's not the big house with all the "stuff". It's not the fancy car with the big car payment that goes along with it.

My most important thing in the world is my family. I know that whether times are good or not so good that my beautiful wife and twin boys will always be there.

Even though times are stressful for many and many friends and family of mine are struggling, my eyes have been opened up to what the holiday's should "look" like.

There may not be as many gifts under the tree this year. My phone may not be ringing off the hook as it has when the real estate market was booming.

That's OK. I will still wake up on Christmas morning next to my wife, my boys will still hop in bed with us in their fuzzy pajamas, and we will all go downstairs together to have what may be the first "real" Christmas we have ever had.

Remember, even though life may seem stressful and hectic for many right now, it will get better. We may all learn a few new things about life as we travel down this path together.

Wishing you and your families a safe and happy holiday season.

I really, really hope this is not true. To even fathom 300,000 more foreclosures nationwide than what we have experienced so far this year does not excite me at all.

I read somewhere recently that if the government were to have given each American citizen $400,000, that would be the equivalent of $700 billion bailout.

Imagine what you and I could do with the $400,000. Wouldn't we pay off our debt, maybe buy a little something here and there, invest in the stock market or buy real estate?

Now, I am no economic guru, but this solution makes sense. Or, the other option is to bailout these huge companies that made questionable decisions about how to make a profit and spend the tax payers money to do it only to put the USA another $700 billion in debt.

I'm just venting right now. But someone needs to do something now otherwise most people are going to have a stressful and struggling situation for the next several years.