What is new in 2007?

Buyers are coming back to the market. The week between Christmas and New Years saw a slug of offers on homes. Yes the Buyers are beating up on the Sellers. We did see quite a bit of negotiating going on, and no the Sellers were not getting full price. It is great for all of us to see the Buyers reengaging back into the market.
The number of sold homes for January and February will be up from anything we have seen in the later part of 2006. The rates are still really good. I actually read that in December our rates were lower than a year ago.
Now is a great time to buy a rental. As the Buyer you will have more negotiating power than is many years past. And many homes to choose from.
Following a dip in interest rates for the first time in five weeks, U.S. mortgage applications soared 16.6% in the first week of the New Year (through January 5), the Mortgage Bankers Association (MBA) reported January 10. The MBA's survey covers approximately 50% of all U.S. residential loans.