Housing News is Good News

Attention! Lingo Change:
All toxic assets are now to be broadly referred to as "Legacy Assets". Thank you...back to the blog!

Wow! What day the stock market had yesterday. You could feel that traders were just happy to be pulling the buy trigger. The euphoria on the trading floor must have been electric!

According to USA Today home sales rose 5.1% in the month of February. Existing home prices fell during the same month.

This is good news and the market was correct to react favorably to it. At this point no one is blind to all the troubled properties on the market (i.e. foreclosures, pre-foreclosures, and the like). These properties must clear out of the market place before housing can get out of low gear.

It is obviously is a great time to buy! Now is the time to act. Yes! Interest rates are better than any of us will see again in our lifetime. Yes! Market pricing is at a low and will come back up. The strings are coming though. Bloomberg is reporting that mortgage fees are on the rise.

Something had to go up, and of course there are a lot of people working hard in the housing market to get these short deals done, and they deserve to be compensated. I am just suggesting that you should get in on the deal before it goes up too much.

If you are not in a position to take advantage of one of these foreclosures or short sales, don't worry! Settle into you home. Invest in your home! Paint the wall a new color. Find some cool DYI projects. It is your home, enjoy it! The market will come around and you will command a better price with some personal touches.

Matt Kemper
Your Credit Company