Perrysburg Blog

Sometimes the news is bad.  (Case-Shiller, value trends, time on the market, etc)

Sometimes the news is good. (Lenders with $$, interest rates, great buys, etc)

It all depends on what side of the bread you put your butter . . .

Loans:  Most banks are still very much in the lending business.    The reliable WSJ has just run a story on small towns where lending is still going on.    I can report that lending and lenders and loan makers are all doing fine in Perrysburg.  If you need money and are creditworthy, guess what?  You can get a loan.

Real Estate Loans:  Same story.  Rates are low.  Rates have been low.  Rates might go lower.  At least this year.  Banks are reporting that loan apps are up by 80% last month vs. 2008.  Why?

Smart owners are refinancing.  There are ridiculously low fixed rate loan products out there.  Save – pay a point or two – reuse your title work – and BOOM!  You can lower your payment on your existing house by hundreds of dollars/month.

Buyers who need a loan are doing great.  Ohio and the USDA (!!) have incredible programs for down-payment short buyers.  Fannie has just upped the number of investment properties anyone can own and still get a financing.  Title companies are dealing.

Over all things are very good for the average Perrysburg investor/owner/buyer.

The one fly in this ointment is that you better “get it while it lasts”.

Seriously.

There WILL BE a lot of inflation in 2010 and following.  Interest rates will go up.  Everyone will lose and be poorer.  (Hint:  get your loan/lending situation fixed now with today’s money/rates – that is really the only way for a normal American to offset inflation.)

This coming inflation will eat away at savings, stocks, 401k’s, and equity.  Sorry.  That’s the price we will certainly pay for the reckless spending going on at every level of government today.   So – make sure that your financial house is in order this year.