Our real estate market is very volatile right now and many things need to be corrected in order for it to improve. The current foreclosure mess will no doubt drag down our local prices and already has in many areas. But the bigger problem, in my opinion, is the over corrections made by the lending industry which have made good buyers side by the sidelines unable to buy right now.
We need to burn off our inventory of foreclosures in order to bring the market back to a healthy status. Rates are still great but getting qualified now is 180 degrees from even the first half of 2007.
Real Estate is an industry that drives our nation. Think about it from the agents and lenders down to the manufacturing of appliances and home based products. Everyone is affected from a down market
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