You probably have heard over and over again about the credit crunch that is happening throughout the country.   The government has stepped in and are trying to come up with some plan to help (and they think they have).  

Regardless of any relief that the government may or may not provide, we have to remember one thing:   if we look at the history of real estate, we will see that it is an ever changing market.   Sales go up and down with the economy – remember in the 80′s when interest rates were near 20%?   Yes, foreclosures are at an all-time high, but soon those who can afford to buy right now will realize that NOW is the time to buy and once we get through this supply of housing, things will turn around again.   History will repeat itself and prices will again rise – we just have to let it take its course.  

Mortgage companies are getting smarter and protecting their investments a little more – they are working to make sure that those who should have the loans, get the loans and those that shouldn’t have them, don’t get them.  

There are many reasons why there are so many foreclosures right now in our country.   Some are lost jobs, over extended their credit, living beyond their means… whatever the case, it is the job of the homeowners and the mortgage companies to do their best to prevent these situations.   Yes, there will always be situations beyond our control and sometimes we can’t help what situation is laid upon us.   However, everyone has to do their best to avoid these situations.  

If you find you are in a situation where you have to sell, Team Kelley Realty may be able to help.   Give us a call.