The fed did cut it’s rates and that is great news, but it’s more interesting in the sense that it addresses investor fears. I really do appreciate Pat’s level headed comments on what is going on in his article “Why the stock markets keep falling”.
Bottom line is that fear is contagious and investors are not immune for this, the stock market is notorious for it’s over reactions. Also the media does an awesome job in feeding on fears since that is what sells: bad news sells better than good news.
Oh well, that’s life. However, just to put some things into perspective for our buyers/investors:
Yesterday I was at our local Realtor breakfast in Windsor and there are tremendous loan programs out there. A few that were mentioned: Chase still will do 100% financing on stated income but the Fico score has to be 740 or higher. WaMu has a Mortgage Plus loan program, a flexible mortgage that lets you change your rate when rates go down (no closing fees, no origination fees, no pmi).
For all of you that have been thinking about buying a home, either move up or move down, just call me. Now is a great time to do either one of them, despite the news. In my next post I will spend some ‘blog space’ on this.
Yes, now is an opportune time to take advantage of the great opportunities that are available in Sonoma County. Just call or email me for a list.
Mirjam