When do we get out of this mess we are in?? We have several problems. Wall street got greedy...causing a demand for more mortgages to sell. We now know that the mortgage companies and Freddie Mac/Fannie Mae were allowing more and more people that probably should not have gotten mortgages to feed the Wall street appetite.
You can not blame the real estate market or mortgage slow down for the general economy for going south. Business CEO's were not prepared for slowdown. One company, AIG was directly tied to real estate.
We are still a year or two away from getting out of this problem. That's the good news.. it is going to take another five years to get things moving again. Also at the same time our money is not going to buy as much as it does now. The cost of durable goods, like housing is going to increase dramatically.
My recommendations are to reduce your debt. Too many people have too much debt, credit cards, mortgages, car loans etc. If you have cash buy real estate with large down payments or all cash.
I can help you find the right property and I can help you pay off a mortgage save $50,000. to $100,000. in interest payments. Interested, Ask me
William S. Wilkinson, P.A., Realtor
RE/MAX Key to the Keys R.E.