Is the Recession over?

Sorry no posts during the month of October, the month just got away from me.


There have been recent news reports of the status of the Recession. Firstly, it took how long for everyone to admit we were in one? Now that the "experts" are heralding it's end how does that effect middle Americans? I'm not an economist but I can tell you that home sales are strong in the short sale market. In October I listed four new properties for Short Sale and all of those are under contract for more than the list price.

Keep in mind that the current market is still way below where it was 2-3 years ago. That's not necessarily a bad thing for everyone. For those people who bought at the peak, it's shattering. Homes that cost $300k two years ago are selling now for a third in some cases.

If you are in a home which is behind the value you paid for it, if you can stay, then do so. Home prices will gradually start to rise again. In time you will regain your lossses. It's not so different from the stock market. Many of us lost money in the stock market and there have been some gains made back, but we've a long way to go.

If you can't stay in your home, consider a short sale before foreclosure. A short sale won't get your lost equity back but it will help your credit. As a certified negotiator with experience dealing with many different lenders, I work for you to help you get the best deal possible. You want to leave the past behind and get a fresh start without the added debt of having to make payments on a house you no longer own.

Consider all your options carefully. Consult an attorney. Consult a CPA. Don't waste time if you receive a foreclosure notice, but do take the time to talk about your options with professionals.