Positive News Everywhere You Look

I don't know if you have noticed but the media seems to be flush since the election with positive news !! Yeah !!

First, we have had the two mortgage giants Fannie Mae and Freddie Mac agree to hold off on foreclosures that are now pending in light that they are going to have a new work out program for people to save their homes. I believe that this will greatly effect us in real estate as a lot of homes will now come off of the market and people will be able to remain in their homes versus dumping them as short sales. So, two big benefits, less inventory which in turn will lead to less bank repos being sold at reduced prices.

Second, we have had the biggest run up in the stock market since 1987, first two day advance since September and we are talking big numbers not 1 or 2% increases in stock prices but the likes of 20% plus. This is even holding over to the auto industry as GM ended their deal with Tiger Woods that was costing them $20 million per year and they are cutting other expenses and working on getting their business in order.

Third, is this bailout of Citigroup which had a lot of people worried, and they are saying that the taxpayers might even make some money on the deal.

Fourth, In Charleston we have had over 20,000 transaction sides (10,000 properties) close in the MLS in the past 12 months, so what our market has done better like in 2005 but that was a pace that could not keep up forever, we are now back to earth with a normal amount of houses selling, we have just got to get the supply side under control which hopefully the move by Fannie Mae and Freddie Mac will help accomplish.

Fifth, rates are extremely low, there are some good deals to be had by those that are smart enough to buy now. So, pick up the phone and give me a call to take advantage of this market and don't forget to tell your friends and relatives, too.

Thanks, David Wertan & The Wertan Team of Re/Max Advanced Realty 843-270-6455