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The American Dream is still going strong…

By Pam Dickman January, 2008

Don’t allow negative reports about the housing market dampen your enthusiasm for achieving the American Dream…

“The fallout from the housing slump and the so called “credit crunch” will prove less severe than many fear”, said Wells Fargo senior economists during the company’s annual economic forecast teleconference this past week.

Real Estate is a long term investment for most families. Regardless of where we are in a cycle there are always many people ready to buy and sell, and existing home sales surpassed those of 2002 which was a record breaking year as reported by the National Association of Realtors®. In today’s market, buyers have lots of choices and favorable interest rates.

Economic factors are positive and in addition to low interest rates most areas of the country experience employment gains, and inflation is under control. These factors point to healthy housing sales this year.

The foreclosure rate is only 0.6%. The problem is predominantly with sub-prime loans which are held by less than 10% of homeowners. Most of these loans will never go into forclosure.

As reported by the National Association of Realtors® “the forecast for existing home sales and prices is to stabilize in the second quarter and rise throughout the second half of 2008, equaling the forcast for 2007. The median national price for existing homes is expected to level off, ending a 1.7% decline in 2007.”

NOW IS A GREAT TIME TO BUY OR SELL A HOME!

WHEN YOU ARE LOOKING TO BUY OR SELL, CHOOSE A REALTOR® WHO KEEPS YOU IN TOUCH WITH THE MARKET!

PAM DICKMAN, Associate Broker/Realtor®/SRES

RE/MAX UNIVERSAL 718.445.1212/917.304.1212/info@forsalebypam.com

www.pamdickman.com