As usual, Richard Mize hit a home run with his recent review of the Housing Tax Credit. 

Personally though, I don’t see a huge problem with the increased down payment requirements for FHA loans.  Sure it makes it tougher for those looking to jump into home-ownership, and it slows sales to some degree, but a large part of the foreclosure problem in this country is due to homeowners’ lack of vested interest in their homes, making it far too easy for them to walk away when the going gets tough.  A correction is in order, and will make a stronger market in the long run.

In addition, I have to take Yvonne Mitchell’s statement, “If you price your house just a little bit below market value, it’ll sell quickly,” to task.  Very simply put, your home’s market value is dictated by what buyers are willing to pay for it.  Therefore, if you have to price it lower to sell, then the market value has dropped. 

While I’ll argue all day against the idea that Edmond and/or Oklahoma City is in a metro-wide decline, we have to be honest that some pocket areas are experiencing a downtrend.

While you're here, don't miss these posts:

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2. Housing Stimulus 2.0 – Is It The Solution? A little over a week ago, I mentioned that Congress was hinting at sweetening the home buyer tax credit a bit, and it appears now...
3. Home Buyer Tax Credit Re-Invented Well, it’s been brewing for a couple of weeks, and the final pieces are in place for the new Home Buyer Tax Credit. While it’s...