I am sure Judy Garland had no idea that her name would be used in a Real Estate Blog some 50 years ago when she entertained us all in a now classic movie. I was about 4 years old when I saw “The Wizard of Oz” for the first time and I can still remember being scared by the flying monkeys. I still don’t like those things.
The one scene where the Wizard is revealed behind the curtain, to be no more than a man, is now frequently used as a metafor aimed at our governement leaders. Yesterday I read where the White House said that Unemployment would rise to Ten Percent. Today I read that President Obama is saying the worst is behind us.
Common Sense would dictate that a rise in unemployment is a bad thing, in fact it is worse by all common sense standards, so how can the worst be behind us?
Well, here is what I believe to be true. The “WIZARDS” have no better idea about what is going to happen in the future than you do. They are looking at the glass one day and seeing it half full and the next day they see it half empty. So we have to make the decision full or empty.
It is for that reason your going to have to look at the facts yourself. Let’s shares some facts before you go searching for a home.
Default rates are at about Four Percent that means ninety six percent are fine. Unemployment is at aproxmately 8.5 % Nationwide that means 90% of the Jobs have people working at them. House Prices are down in San Diego about 35% on average which makes this a buyers market. Interest Rates are at historic lows and lenders are looking for your business.
So it is not all doom and gloom. It has even been rumored that our Wizards are finding it harder and harder to get face time on Television to tell us the same old thing. Ok, the Nurse has spoken, now go search for a home, don’t let a solid “Buyers Market” escape you. Remember do yourself the biggest favor you can to save money, get preapproved for your purchase, Sellers and their agents are making this a requirement.
If your wondering the picture of the rainbow was taken in Jamul, part of San Diego’s East County. If the picture was taken the other direction you could see the South California Coast line, but that will be another blog entry later. Just remember there are always two ways of looking at things, I find it is best done with the facts.