The National Assoc of Realtors revised their home sales outlook. Both new and existing home sales should bottom in the first quarter of 2008, then rise for the remaining three quarters. The housing starts outlook may continue to decline through 2008. WHAT DOES this mean to you? General homes being built right now aren't going to do so well, but "Resale" homes and homes coming on the market Starting March/April should see the bottom of the market.
30 YR Bond +0.04 4.38% 10 YR Bond +0.05 3.88% 1 Year TBill 3.17% 11th District COFI 4.23% Prime Rate 7.25% Discount Rate 4.75% Fed Funds Rate 4.25%I believe that there will be a massive inventory at the beginning of the 2nd quarter of 2008. The Fed will have lowered the interest rates enough that it will be a good time for people to get low priced homes with great rates. The only Rub is that lenders aren't giving out loans like they have in the past: It is MUCH harder to qualify for a loan. The sooner you start, the better positioned you will be to Purchase. Likewise, Refinance NOW while values are still relatively strong in comparison with the potential value drops in many markets. More information at http://www.ptre.net/
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