Monday, July 27, 2009

The Dust is Settling

It seems like we have gotten a lot of the kinks out of things lately and we are beginning to chug along "business as usual." Now things are quite old School, for example, underwriting rules are once again the sound practices of "pre-bubble" lending, prices are about the same as they were back then too (unfortunately.) But it feels good to be selling REAL estate, and not "Inflated Estate."

Seems like Vermont Foreclosures settled down for a bit, and now we are seeing a bit of activity again. I think the lull had to do with the Feds moratorium, coupled with banks frantic reaction to the the Home Valuation Code of Conduct ("HVCC") which took effect May 1st 2009.

So normal is good. I have attached here an amazing article which I highly recommend reading about the last few "bubbles" how they happened, and what the fall out has been.

It credits Goldman Sachs for a good deal of the mess, and the article is compelling in that regard. In any case, still a great time to buy. ONLY 90 days left to get under contract in time to enjoy the $8,000 tax credit. What are you waiting for?

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