Emergency Fed Rate Cut and now the discount rate cut. The mortgage rates are tied to bonds, so this may have an adverse effect on mortgage rates. I have seen rates at the beginning of 2008 at 5.25%. Now we are around 6%. Buyers, it is a must to move. The rates are going to remain in the areas I just described. The inventory is going to start moving and price are beginning to stabilize.

The bottom is here folks! Mid March started a buyer boom. Multiple offers on properties under $300K is common right now! Don't get caught sleeping while the bottom turns upward!

Properties in the Hemet and San Jacinto area are now below $100 per square foot! Geeez...that is in sharp contrast to the $300-$400 dollars per square foot during the 2002-2005 boom. Multiple offers are common on all Repo properties. Don't get caught sleeping my friends.

Buyers, you are back in the drivers seat. Don't wait for rates to climb higher. There are great buys out there today. Remember...the numbers and stats you see on the news or read in the paper are based on numbers 60-90 days old. I live the numbers today and see the bottom. I also see great deals to be had!

Please keep in mind...buyers need to be aware of the importance in having a lender waiting with approval for their loan. Loans have changed because of this meltdown! Really take the time to shop the best loan for you in the long run. Call me to discuss my views on future rates and terms.