The Sky is Falling….Well, Maybe Not.

by

Blog Header

You have to love our media.  They create headlines to grab your attention, and what better way to get your attention than to SCARE you, right?  Frightening headlines grab you and you read them, only to find that the details aren’t nearly as bad as the headline sounds.  Some examples are:

A July 29 video on www.foxbusiness.com with the title, Bad News for Housing!  Yikes!!  Let’s panic and sell the house now, right?  But when you watch the 59 second video, only about 4 sentences are even directed at the housing market.  The facts show that the rate of growth in housing prices slowed down as compared to the prior month.  Home prices are still rising, just not as fast as analysts expected them to rise.  I am happy that prices are still going up.  I have seen much worse in recent years.  In my opinion, they could have written a more appropriate headline, but then, a softer headline wouldn’t scare you into watching the video.  So remember, as of May 2014, average home prices are still rising.

I love the secondary headline of the following article:  4 Factors Weighing Down Housing in the Second Half of 2014:  Will Housing Collapse?   Well that GOT my attention.   But the second of the 4 factors reads, “Housing will not collapse.”  That’s great!  Why the headline?  I found this article to be very insightful and compelling.  It was well written and provides a great analysis of the market.  But why the gloomy headline?  (Because it gets our attention.)      

We have recently received a number of calls at Dunwoody Mortgage, that go something like this, “I heard that you must have a 20% down payment to buy a home, but I decided to call you anyway.”  I don’t know where folks are hearing this myth, but don’t believe it.  The fact of the matter is that there are MANY PROGRAMS that can get you into a home for less than a 20% down payment.  You can get a conventional loan for as little as 5% down.  FHA loans can require as little as 3.5% down.  There are VA and USDA loan programs for 0% down.  Click here for more information on down payments.

This all gets to my main point…get the facts and talk with the experts.  Don’t believe what the rumor mill tells you about the housing market and definitely don’t believe the headlines.  Dig in and learn more before you react.  And if you have home financing questions, call or email me at Dunwoody Mortgages Services.  I would love to help you.

blog_footer_RShaffer1

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: