Follow me here….The Spike of new loan apps reported a couple months ago was simply beacuse of a sizeable downtick in mortgage rates that have since risen again to low to mid 5’s, the subsequent spike in “pending sales & under contract homes” reported by (some analysts) is meerely those apps contracting on property. In short, the "revival" they spoke of is due only to a momentary momentary positive influence outside of the REAL and larger issues. (low rates pulled buyers off the sidelines for a few weeks)

The reality is, we still have at least 12-18 months of bumpy road ahead for Home Sellers and that makes for a PERFECT market for those who want to Lease-Purchase their next home!  

More GREAT news! Here's the up to the minute FACTS about the Stimulus Plan as they relate to housing… (VERY encouraging stuff for Buyers)

1) certain loan limits will be raised to $727,000 in high cost areas, 2) the tax credit for buying a house will be raised to $8,000 with NO payback [a true credit], 3) the bill has over 50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another 200-300 billion of mortgage paper from the GSES’s thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10.

Did ya catch that? RATES ARE GOING TO GO DOWN WHEN THE SECOND HALF OF TARP AND TALF IS ENACTED!!  (my guess 4.5)

The correlation Im getting at here is that in the VERY near future we will have 1. very low interest rates, still have extremely motivated Sellers, and home prices that are very very low.

There won't be ANY better time than now to Lease-Purchase a home, take the time you need to get into a position to get a mortgage and close on the home in 12-24 months....when all of this "perfect storm" is in full swing.  

http://www.leasepurchasecharlotte.com