The Bains

The conditions & questionable financial practices that fueled the red-hot markets of 2003-05 are
gone & now back to normal – which is good! Home prices will stabilize, sales pick up & housing
regains its standing as a smart, positive purchase. That is already taking place, but will take until
after Labor Day & into 2010. The confluence of low interest rates, attractive prices, high
affordability, motivated sellers & effective government incentives, such as the $8,000 tax credit
are putting housing on the track toward recovery. Credit is tighter, but that is OK. Lenders are
watching what they are lending more prudentially.