Friday, January 2, 2009

Shhhh.... Good news!

Don't tell the media, but there was a bit of good news today--the Dow closed over 9,000 for the 1st time in 2 months! Can you believe how low it's dropped over the last few years? But what about falling gas prices? Ditto! $4 no more and we're loving it. More bad news in the media today (manufacturing activity dropped quite a bit) and as always, home prices, well, how should I say this... they still SUCK. In any event, the "Metro Mike" billboards here in metro-ATL show a positive trend as well--remember when it rose to over 113,000 unsold homes? That's about when they STOPPED showing the actual number and put up pithy 'BUY NOW' messages. Well, it's now back down to the low 80's (look here; lower left of screen) and I see that as positive. Final shot--I just closed a new home purchase for a couple with a 1st mortgage of $417K (with a 2nd mortgage HELOC-remember those??). The interest rate was a mind-boggling 4.875%. WHAT ARE YOU WAITING FOR??? GO BUY NOW!

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