More Housing News. How To Take Advantage?

I know, I know. If you make your living buying and selling houses, at times, its tough to keep a happy face.  Christ, the other day, I was listening to Financial Friday with Sean Hannity, and I had to turn the channel.  During this segment Hannity takes financial questions from folks across the country and offers expert opinion. I’m telling ya, if there would have been sharp objects in the car, I would have impaled myself.  I just could not believe how down some of these people were.

But folks, trust me when I tell ya, there has never been a better time. When there’s blood in the streets learn to live like a vampire.

Today in the Wall Street Journal, reporters Ruth Simon and James Hagerty wrote a great article. The most telling paragraph;

“Borrowers who owe far more than their home is worth may also be less likely to participate in another part of the government’s housing plan, which provides incentives for mortgage companies to modify loans to make payments more affordable. Thomas Lawler, an independent housing economist, said borrowers who owe 30% more than their homes are worth are far more likely to walk away from their property than those who owe just 5% or 10% more and expect prices to rebound. More than one in 10 borrowers with a mortgage owed 110% or more of their home’s value at the end of last year, according to First American CoreLogic.”

Read the rest of the May 18th, 2009 article here:  Home Prices Leave More Underwater

Truthfully, I expect this to be the best business year I’ve had yet.  How will you capitlize during these crazy economic times?  Comment below.

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