according to the following article:
http://finance.yahoo.com/news/Mortgage-delinquencies-apf-3683370452.html?x=0&sec=topStories&pos=7&asset=&ccode=
mortgage delinquencies and foreclosures just hit record highs - read this as ever growing supply
according to this AP article:
http://finance.yahoo.com/news/Mortgage-Applications-Plummet-siliconalley-1293323636.html?x=0&sec=topStories&pos=4&asset=&ccode=
mortgage applications hit a 13 year low - read this as ultra low demand
What happens when supply surges and demand plummets?
In real estate it means that in 6-12 months prices drop, significantly. Gee, at least there is no worry about credit risks globally that will be pushing up interest rates. If you haven't studied the links to articles we have been providing you for the past several years you are intentionally harming clients and you are incompetent - most Realtor organizations will give you a plaque for that.
If you want to understand how and why these, and other, FACTS we have been sharing with our readers for years tell us sellers should do whatever it takes to sell now and buyers who are financing should buy now. The information is here, start at the beginning (first article on this site) and read forward. OR visit http://www.TRG100Club.com and request a complimentary month of membership OR run, don't walk, to McDonald's, Wal Mart or Home Depot and request an application - don't be surprised if they won't hire you, as a Realtor you probably possess very few actual skills and even less business savvy.
