Well, the first 100 days of the Obama administration has come and gone. Here is an article by Mary Ellen Kohut from TMA discussing the economics and the market.

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President Obama’s first 100 days probably were not what he imagined when he began courting the American public for the Presidency in 2007. The stock market was over 14,000, unemployment was at 4.5% and large bonuses with shiny expensive cars were a part of the American Dream. Our charismatic, Harvard educated leader’s term is being compared to that of President Franklin D. Roosevelt our 32nd President from 1933 to 1945. When President Roosevelt began his campaign for the presidency, our country was in the dark throws of the Great Depression. This visionary man implemented social security, appointed the first woman to his cabinet, and developed work programs so American’s could put food on their tables. One of his first triumphs as president was to repeal the 21st Amendment Prohibition Act, or legalize alcohol consumption.

President Obama is still in the honeymoon phase of his presidency although the stock market plunged to below 8,000, and unemployment rose to 8.5%. He successfully guided our Navy Seals to fight pirates, (not the “aahrr matey" of lore but mercenaries on a mission of death... and none of them look like Johnny Depp) and has improved our global image while introducing his political platforms. With all of our big problems it has given our President a smaller library to focus his talk of reform. The economy has provided him with an opportunity to pass his massive stimulus bill and probably will allow the implementation of a national health care. Immigration is a spicy subject and was brought to the forefront this week with demands to close our borders to contain the swine flu. After all, if you get rid of the Mexicans you will get rid of the flu. I always thought that germs were the reason for the illness but in High School I was too concerned about my hair and my date on Friday night so I probably wasn’t paying attention in class when the teacher said it was the Mexicans. President Obama’s exuberant confidence in the United States and his programs is contagious. With any relationship we must believe in our partner…..until proven otherwise.

FYI: All conventional appraisals are now required to be ordered through specific Fannie Mae approved Web sites. No exceptions. You can thank Attorney General Andrew Cuomo for determining that "ground zero" for the housing crisis was all due to the appraisers.
Interest rates are still incredibly low and we are seeing a lot of first time home buyers getting into the buying market and a lot of people who already have mortgages looking to refinance.

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Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572

p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!