WHAT IS GOING ON?

Some home owners and builders are asking that question now that the market has taken a nose dive. The answer is quite simple and it goes like this:
What goes up must come down:
For five years, every property built or brought to the market found people ready to buy. Now we are witnessing a market correction. What goes up the saying goes must come down. The basic laws of supply and demand are always valid.
What should you do now?
Buyers:
This is the moment when deals are made. Foreclosures and unsold builder inventory abound, conventional financing is plentiful, it time to make your move. Make sure that you have a pre-approval ready, it makes your offer more credible.
Sellers:
Unless you have to sell, think about renting your property as an option because the rental market is hot in many cities. If you are in or about to face foreclosure, consider mitigation, short sale negotiated with your lender if you are not successful in getting your property sold at your asking price. Walking away is a bad option because it will come back to hunt you.
Conclusion:
This is not the end of the world, corrections occur in every sector of our economy from the auto industry to garment manufacturing as we all know. Panicking or rush to buy are not the answer whether buying or selling, cool and thoughtful action is needed to avoid long term damaging consequences .
Call me at 773-562-6972. We have all the conventional and government programs to help you buy or refinance your property. Those programs are listed in detail at our website http://www.p2funding.com/.
John Palla