Good times aren't far away

Howdy, I hope everyone survived their Monday. It has to be my least favorite day of the week, as I'm sure is everyone else's. This is a week of getting organized for me. When I am busy concentrating on my current clients, the rest sits in the shadows a bit. I'm essentially running my own business, so being on my own I can get backed up with all the little things at times. My parents are taking their real estate licensing tests next week, so maybe I'll have two new assistants :) They'll have to pass the test first!



So the new iPhone was released just a few days ago, making my original even more ancient. Luckily the phone loaded the new software when I plugged into itunes, so I've been distracted with it all day. The 100's of applications they make available are amazing. It has to be the best business tool ever invented, I could go camping for a week and still get all my business done with that alone. I'm getting addicted to applications like these, Learning Rocks!

So if you haven't heard the bad news about the economy right now you may as well be living under a rock. There is one factor that is really slowing the housing market, the mortgage crisis. The government is now bailing out Fannie Mae & Freddie Mac, which are private companies but with big government ties. They account for about $5 trillion in loans, many of which should have never been given out. Chances are when you got your loan, Freddie Mac or Fannie Mae bought up this loan. If they were to go under, hardly anyone would be getting a home loan and the economy would sink deeper. Luckily the government is smart enough to prevent this from happening.

A large effect this is having is how it's portrayed in the media. It scares consumers into buying homes, more scared to have to sell their home. What the mortgage fiasco has essentially done is supply loans recklessly for the past several years, and it's all catching up now. There are still great loans available, you are just going to need better credit and more money down. It probably is a good thing the days of 100% financing is over, as we have seen many of these homeowners fall into foreclosure.

I've spoken with many people recently who are looking to buy a home but want to put it off. There is a lot of fear in America's consumers right now. I have read articles recently telling homeowners to take any offer they can get, reduce their prices to what they can afford to lose. The market isn't in shambles around here, so I won't be telling my sellers that anytime soon. The economy and housing market could use a nice boost though, and neither of those historically seem to happen quickly. Let's just hope it's sooner than later.

In better news, I'm excited to be heading up to Portsmouth, VA to see Widespread Panic this Saturday night. The pavilion there has to be one of my favorite venues. It's all general admission so you can easily get right up front, it's right on the water and they even have water taxis over to the show. This makes my 5th time seeing them play there, and at least the 30th+ time I've seen them altogether. It gets better just about everytime, especially because it's not quite as often these days. I'll be sad to miss their 2 night run in Charlotte next weekend, but I imagine I'll be having a better time at friends Matt & Andreas wedding here in Chapel Hill. Until next time...