Thursday, December 17, 2009

The Sub Prime Aftermath

Many buyers are now caught up in the aftermath of the buying frenzy of several years ago. With rising housing prices, easy credit and sometimes greed, folks went head first into the housing market.

And many probably should have never been there. If their credit was not sterling then why were they given the mortgage?

Many buyers ended up with these adjustable rate mortgages that escalated and increased the payment hundreds of dollars a month.

Choices were made. Some good, some bad. Now these folks are involved in short sales or even bankruptcy.

Yes, the sub prime aftermath is not a pretty sight.

Some who were chasing the dream have gotten tired and gone the short sale route....and learned a valuable lesson!

Gary L. Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region. Whether your interest lies in a 55+ community such as Heritage Isle, a golf course community such as Baytree National Golf Links or water front, give me a call!

Read my blog Florida Homes for Sale and Moving to Brevard County, Florida.