Michael & Belinda Jackson

After spending the last several weeks with buyers I have to say, I have NEVER seen such great deals ! To see buyers purchasing homes and having the payment match what they are paying for rent right now, it doesn't get much better. To see investors buying property that will actually pencil out is just great to see. To see multiple offers on bank owned homes that are priced right is just exciting. It tells us that the market can support the influx of distressed homes that are hitting the market right now. To see buyers locking rates below 5% is just shocking. Bottom Line, it does NOT get any better than right now- DON'T WAIT- BUY NOW !

The new HAFA ( Home Affordable Foreclosure Alternatives Program) starts April 5th 2010. Will it work? We are hopeful, but not sure ! We work on many short sale listings and everything we read about HAFA would be a real good thing if the lenders really follow through. Details like these are really exciting.

* Allows borrowers to receive pre-approved short sales terms before listing the property ( including the minimum acceptable net proceeds) * This would be HUGE !

* Requires borrowers to be fully released from future liability for the first mortgage debt.

* Provides financial incentives for borrower & lender

Time will tell, but if this program works and lenders will sign on, it could go a long way to helping many home owners that desperately need to move on. Let's all keep our fingers crossed that the program will really work !

We are hearing of buyers wanting to wait until the very end of April to find that perfect home and get in just under the wire for the tax credit. My ongoing concern is that those buyers that wait until right before the contract deadline to find the home may be in trouble, WHY ?? What if they just get into contract say April 29th, then order inspection & appraisal and they are feeling great about the $8,000 coming their way, no worries Right? WRONG ! If it does not appraise, does not pass inspections etc. etc., they loose the home and the credit ! My advice- Find that great deal NOW.

I woke up this morning with a question running through my small brain. Do I need to love real estate? I have been in sales for over 25 years with the last 5+ in real estate. As we all know the last 2 years have been VERY fun in the business ! Even when the business is more challenging then ever and we are working harder than ever for less money on every deal, we MUST still love it ! If we don't clients can see it for sure. If we are not passionate about the business and all the opportunities of today we will loose clients for sure. Have you ever seen a better time to buy in your area? Price, Rates and so on, the answer is NO. Clients must see our love of the business, they need our reassurance that everything will be fine, now is the time to buy. Yes we all have our days ( or weeks) when we just feel like being a Debbie Downer and feel like throwing in the towel, but we must press on, take on the market, bring the deals to our clients and sell, sell and yes Love it !

This question was just asked today of us from a buyer. Do I lock now or should I wait? Will rates go down next week? WOW the million dollar question. Of course I'm not the sharpest tool in the shed, I am just a Realtor. I guess it all depends if you are a gambler Mr. buyer? Do you want to throw the dice until 2 days before closing or do you lock 30 or so days out? My answer to him- Given the uncertainty of the economy, housing, unemployment, and a million other factors- LOCK NOW !! We only know what today will bring !