Orlando’s Real Estate Turnaround on Horizon
Signs of a real estate turnaround are finally on the horizon. And now, even some of the country’s previously most-bearish economists are beginning to agree.
Last week, Dr. Mark Zandi, chief economist for Moody’s Economy.com, surprised analysts by announcing that “the bottom of the housing downturn is in sight for the nation.”
Days later, the Wall Street Journal - among the most pessimistic of major U.S. newspapers - ran a prominent article with this headline: “For some, it’s finally time to dive into the housing market.”
The Journal quoted one Phoenix buyer who had just picked up a bargain-priced first home as saying, “six months ago, I didn’t think I would ever own a home. Now I do. It’s so perfect.”
Mortgage rates continue to hover near historic lows. According to the Mortgage Bankers Association, thirty year fixed rates last week averaged 5.2 percent, down from 5.3 percent the week before. Fifteen year rates average a flat five percent.
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[...] back in the water? Or are you studying the market yourself each day, watching the numbers like a data-crazed economist; a coiled, human spring ready to pounce at a moment’s notice - proof of funds in [...]