Here is a link to a 60 minute news segment that I watched last night about – A second mortgage disaster on the horizon?

It was pretty startling. They discussed how the ALT A or Option ARMS mortgages that were written over the last few years are going to start adjusting in 2009. Experts expect default rates above 50% and could possibly reach 70%. That translates into a trillion dollars in mortgages. I had heard and read that we were going to see ARM adjustments in 2009 but I didn’t know the magnitude. The expect the mess to get even worse. I wonder if the current bailout has factored in these mortgages.

The bottom line is if you are selling your home price it right. If you are going to buy a home make sure you get a good price for it and dont expect to flip it for a big profit anytime soon.

Again, a home is more than just an investment.  People need shelter, a home to sleep at night, a home to raise their family, a home to create those lasting memories with their family and friends and more often priceless when compared with any investment. 

Call me if I can help sell or buy a home in the Sarasota, Florida area. 941-812-6272