West Valley Properties

Just read a great article in the Wall Street Journal that I did not want you to mis “.” (I will be sharing this information Tonight in my Free Live Foreclosure Investor Webinar 6pm PDT. !)

In a nutshell, here is what was said…

“Despite all the gloom, there are growing indications that it is a good time to buy. Mortgage rates are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody’s Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer’s market.”

“Such conditions might not last long. Moody’s Analytics predicts that the number of distressed sales will fall and that prices will begin to edge upward. Home building is at a virtual standstill. Demographic indicators such as “household formation”—the number of new households each year—are on the rise, and promise to take a bite out of the glut in coming years. Rates hover near historic lows, experts expect banks to ease borrowing standards over time. As prices stabilize, it will tip the balance away from fear and pull more buyers back into the market. In several markets, it’s becoming cheaper to own than to rent.” 

“Some of the uptick in household formation is likely to come from the leading edge of the echo baby boomers, who have been waiting for the economy to recover before striking out on their own, says William Frey, a demographer with the Brookings Institution. That is likely to fuel an increase in demand for both rental apartments and starter homes.”

“”Whatever the excess supply of housing is, it is shrinking pretty fast,” says Thomas Lawler , an independent housing economist.”

This folks is good news and will be a central topic in my free webinar this week. If you don’t know how to profit from this news, you will after attending this call, so check it out.