Something positive in this economic turmoil

We have all been told to try to to find positive things when things seem so bad.  While our country is in this big economical mess, there are a couple of positive things currently going on.

The first, unrelated to the real estate market, is gas prices.  Since everyone is cutting back, the demand for oil continues to drop.  The high was around $150/barrel a few months ago and has dropped dramatically to around $46/barrel, as of the writing of this blog.  This is great for everyone, except the billion dollar oil companies.  Gas prices at the pump are around $1.65/gallon, and has been as low as $1.53/gallon, in the southern Ohio area.  Some predict that the low price of oil may be around for a while.  Let's all hope so.

The second positive outcome of this mess, is that mortgage rates are falling.  30 year fixed rates are around 5.375% and 15 year fixed rates are around 5.25%.  Rates have been low for quite some time, but with the housing market suffering, rates are falling even lower.  This, as I have mentioned in other blogs, provides an excellent opportunity to buy a home.  You can get an excellent mortgage rate and excellent price on a home.  If you are financially sound, have some money for a down payment and your amount of consumer debt is low, why not take advantage of this unique opportunity.  

"We are in extraordinary times" has been quoted by President Bush and President-Elect Obama over the past several weeks.  Why not look at the positives during this negative time in our country's history.  So, get in that car, fill up with some 'cheap' gas, drive around your desired neighborhood, find that home you would like to purchase, then contact me to schedule a showing and let me guide you through the home-buying process.