Mortgage Commentary

[Adam in CO]

Originally Posted by Hucky

Adam, Thanks

Adam, Do you care to put in a guess as to when or if there will come a time in california that a person can buy and fix and sell a home or two in the future?

Thanks Hucky

It seems that Colorado is still going strong

Hucky,

I really couldn't comment on the specific real estate markets in CA. I defintely have a grasp on CO, but it's easy to predict here. Denver metro area residential real estate booms when we have big public works projects (DIA, T-REX). It is defintely still a buyers market here but would be impossible to make any real money trying to fix and flip. Longer term holds would be required.

The current reports are eluding to the fact that the ARM loans, and therefore foreclosures nationally will slow to normal inside a year, but that does not mean things will rebound, either.

On the other side of the coin, things will be very good for qualified buyers and refinancers over that same time frame because of the housing market issues.