Okay...let me simply say this, you will have value and still have value in your home. The prices have adjusted as the market has but sales are strong in Hampton Roads. I don't know if you will make a HUGE profit. It would depend on whether or not you refianced the home and on what you owe. If you need a CMA let me know. thanks... more
We are in no type of stabilization. The recent Middle East crisis has only complicated matters. The Democrats would like to wind down Fannie and Freddie in 4-7 years while the Republicans wants it dissolved immediately. Once Fannie and Freddie is dissolved it will become harder to secure a loan because the market will become 100% privatized and will go back to the old system of requiring 20% downpayment. This is sure to drive up prices. So I completely understand why the comments were negative and called the "story" (which is what it is) a blatant lie. With over 4 million foreclosures projected over the next 2 years everyone needs to wake up. The market still has a lot more falling and failing to do.