My New Blog

        Recent revaltions about lending practices has put America and the stock market on edge. For years, easy money has been given out to less than credit worthy home buyers. Markets that have seen prices skyrocket in the last five years have increasing numbers of foreclosures based on loans that were not fixed rates. The end result is that many markets will see a flat or falling value until these repos can be absorbed. However, for some markets it can be good news to investors.

        Affordable markets like Oklahoma and Texas have not seen much of a change. Oklahoma has been on the national average for foreclosed properties, so all is normal. In fact, Oklahoma City set records in January and February for units sold and volume. If you have good credit in Oklahoma, affordable housing is in reach with fixed rates. The even better news for investors is that the sub-prime lending practices are being tightened. Fewer of the lower end buyers will be able to obtain financing. There is a name for these people, RENTERS! As of February, my investor homes have been at a 2.5% vacancy rate. This should improve, and we should see a lower downtime for new purchases. The negative to the sub-prime crisis is that rates could start to go up this year, probably in the last half.  This is a good time for investors to buy.