Tuesday, November 20, 2007

A new perspective on the real estate market

Media report: 25% of sub-prime mortgages are in default

Reality: Sub-prime mortgages only account for 25% of all mortgages. Of those, 75% are
being paid on time. The reality is that only 6.25% of loans are in default.

Media report: Prices are down in 15 states.

Reality: Prices are stable in 35!

Media Report: Real Estate sales slip 20% from 2006

Reality: 2007 will be the 4th busiest since 1997

Media: It is getting almost impossible to get a mortgage if you have credit issues.

Reality: FHA loans have never had a minimum credit score requirement!

Just wanted to put some positive news out there to counteract the media hype and the subsequent consumer overreaction.

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