What the....April 30th?

Well...The Federal Government has done it, saved us all from "The Great Depression II". It has been brilliant so far ;->. 2009 Q4 GDP @ a whopping 5.7%. Wow, printing all that paper makes the economy look good on paper. The Trillion Dollar Question is will it carry over after the Fed stops buying mortgage backed securities in March? A nice way to artificially keep interest rates low, now it ends. That is going to feel like a body blow to the housing market's spleen, KAPOW! Home buyers tax credit ends in April, WHOMP! Another body blow to the right to the liver. That one is going to hurt in the morning. We'll find out soon enough how bad it weakens the housing market. Depending on which pundit you ask it will contribute to interest rates rising by the end of the year, to 6% maybe even 8%. Outrageous! Did I mention the number of foreclosures on the horizon? Over $15B option ARM's, Alt A's and subprime loans adjusting next summer, 2011. Holy Subprime Mortgage Batman! Yes Robin Boy Wonder and how may homeowners with prime loans will be underwater and just say "screw it" and walk away from their loans? “It is what it is” says the sign a colleague of mine has posted over her desk. I recommend to if you have to that NOW is the time to list and/or lower your home price. It’s time to attract those home buyers looking to cash in on the $6500 or $8000 tax credits, plus the hysterically low interest rates before it all comes to a halt April 31st. You just have to be under contract by April 30th, so that's a great deal. Now is the time to list and sell and buyers now is the time to buy. Every month you price your home to high to sell it loses value. If you can live in it for another 5 year or more I'd say don't sell, otherwise, you need to call me and have a discussion. http://www.getrealwnc.com