Historically, January in real estate is a void. People recovering from the holidays, travel, and writing resolutions. But this January feels a little like 2002. Multiple offers, a bit of an urgency about getting in on the foreclosures with a loan and some cheap money. Here's how cheap it is:
At 4.87% your house payment of $2116.83 will buy a $400,000 loan amount. at 7.875% that same payment buys a $322,231 loan...whoa. That's a difference of a 2 bedroom or a 3 bedroom. Don't overlook this advantage! Rates will rise.
The crystal ball is still milky, we have rumors of the double dip and just hoping that the banks are getting their act together, but the pent up anxiety of the American consumer is wearing thin and people are anxious to exhale and feel like life is normal again.
Watch here for easy to digest, factual information on real estate in Santa Cruz County.
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