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Heard the news..? Wall Street is down. And it's been caused by the U.S.
housing slowdown! Here's what this means for Real Estate investors, millions of
Americans are trying to sell their homes, and the latest news from the Mortgage
Bankers Association (MBA) isn't good. The MBA sees sharp drops in sales of both
existing and new homes this year, with mild rebounds expected for
2009.
Buyers, on the other hand, couldn't ask for better news, earlier
projections that had the housing market recovering early in 2008 would have left
buyers scrambling to take advantage of the busy spring sales season, potentially
leading to increased competition and driving up prices.
With slow conditions
expected to continue throughout the year, however, buyers can go through the
process at a more deliberate pace without fear of missing out on the best
prices. The MBA believes median home prices will fall about 2% in 2008 but
regain most of that entire drop in 2009.
So how do you take advantage of all
this? It's simple, buy low and sell high.

Buying Foreclosures, Foreclosure Investment, Foreclosures, Foreclosure Deals

Here's 5 things to do to manage during a
recession:
1. Refinance your mortgage. Almost every time we are heading into
a recession, or already there, the federal reserve will lower interest rates to
stimulate the economy. If you're in a high-rate mortgage, refinance now. Not
only will it lower your payment, you'll save thousands of dollars in interest
over the long term.
2. If your finances are tight, resist the urge to
splurge. If you don't need it now, wait until the recession is over. You'll
thank yourself later.
3. Keep your job, or get a job! Employers feel the
squeeze during these times, too, so make sure you are not a dispensable
employee. Shape up if you have to, and make sure now more than ever you are
doing what's best for the company.