Positive News for a Change

Despite oil prices at record highs and the pain at the gas pump, there have been several positive economic indications sales may soon begin to increase. In Southern California, an area hit hard by opyright 2008, all rights reseforeclosures, home sales were up 22% in April as investors moved to act on extremely low pricing for the area. When the market is up, investors sell and when prices are down, investors buy. There have been many, many people who have made a ton of money buying properties in a down market. Fannie Mae, the nation’s largest home funding source has announced they will implement a national down payment policy of 3%, lowering the amount needed to purchase from 5% (and 10% in declining markets). This should open up higher end properties to Gen X type buyers with large incomes but low down payments. On the local front, Forbes Magazine has named Seattle to it’s Top 10 Recession Proof cities. Citing low unemployment and strong growth in manufacturing, our area is faring much better during this slow-down than many others across the nation.
It’s not “stop the presses” great news, but these small signs are often early indications of changes on the horizon. And any positive news amongst the deluge of negativity is something I’ll take (and share) every chance I get.

Copyright 2008, all rights reserved Colleen Fischesser

Colleen Fischesser is the Broker/Owner of RE/MAX Select in Maple Valley, WA. She has been successfully selling and marketing properties all over South King & North Pierce counties since 1990 but specializes in the greater Maple Valley area. She may be contacted directly at: 425-432-5400 or via email colleen@maplevalleyrealestate.com