"Take that, Chicken Little"

Boy the news can make you crazy. It can even paralyze you if you let it. I choose to keep moving and take it all with a grain of salt. Every newspaper and TV show seem to have their own spin. In doing review of ACTUAL market dynamics for the local area, the fundamentals are actually BETTER than last year to buy a home. I have a success story this week. A first-time home buyer I've been working with found a great home at about 15% less than we had anticipated and found a super mortgage program. Some background: my buyer is a factory worker with decent credit (625 middle score) and earns about $45,000 a year. Our home: $165,000 single family. Our mortgage: We are using a CHFA product through a reputable mortgage lender. His Rate: 5.25%. Total funds needed: about $5000. We're expecting the total payment with tax and insurance to be about $1350/month. I'm really amazed at how affordable things really are for anyone who has guarded their credit at all. It's really a great time to buy. Call us anytime and let us go through some examples and see if the shoe fits. Home ownership isn't for everyone, but it is more possible than one might think by listening to "mainstream" news.