Aloha Friday,

Well, where do we start? Foreclosures are at an all time high of 2.97% (by the way, that is only the ones they have filed on; this does not include defaults), more job losses occurring with 500,000 less jobs in the 3rd Quarter and we will all be driving foreign cars next year!!!! Yikes. We can all turn on CNBC and hear this doom in gloom, so let’s look at the positive side instead.

Rates, rates, rates!!! The 30 year fixed rates are the lowest they have ever been in my 21 year career. We are locking loans in today for owner occupied clients and second homes at 4.875% on 30 year fixed. We have got to look at the positive in all this which is there are great rates to be had. There has never been a better market than this for a buyer; EVER.

If you are a watcher of Jim Cramer on CNBC’s Mad Money, he is predicting the upturn in house values in starting in June of 2009 . He has several theories of why that time frame will occur and I can tell you he has been right on the ball through this entire financial crisis. That means we have six months to get our buyers into great deals.

If you have any questions, please feel free to call me at any time. Have a great weekend.

Dean Rathbun