New RE numbers don't look good.

Have you seen whats going on in the market lately?
30 year mortgages hitting their highest level in a year, therefore pushing down the applications coming in, Fannie Mae and Freddie Mac issue, Indymac being taken over by the Feds and the housing market slumping more than expected.

When will it all work itself out? Dunno! Are you taking advantage of the opportunities? Last week I saw a house in Irvine California where the value was 1.1 million and it was being sold by the bank for 450K. That's the type of stuff going on out there.

The true bad news, not what the media is telling you, is that it looks like the "Bailout Bill" is going to get passed and signed by the President. At first he said he planned on vetoing it but now, under political pressure, he has said he will sign it. This means, among other things, that responsible home owners and tax payers will be paying the bill for those who got into mortgages they should have never gotten into. So the lesson learned is no lesson at all: "The government will always be there to bail us out." What type of example are we setting for our young people? Don't worry about your actions, if you buy something you can't afford, or lie on your mortgage application in order to get into a home and ten you find yourself in foreclosure, the Government will come in and take care of it. I think we should all be careful how much we really want the government involved. Talk about your slippery slope. Isn't this one of the reasons we separated ourself from England?

Any who: guess I showed my cards there. One of the sad things I see is people being afraid to get in the RE market because of the media. However, if you have the ability to learn, you have the ability to make money in this market. Get educated. Get involved.
The opportunity that is available right now will never happen again! Think I am crazy, look how they Fed's have already changed mortgage rules, do you really think it will stop there?