Rate cut – hope it is not too late.

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At last the Federal Reserve moved.

Rates are cut by 50 basic points or ½ %.

Hopefully this move doesn't come too late for a lot of home owners.

According to different statistics the foreclosure rates

and short sales have been going up each month here in Pinellas County.

But as a Realtor for many years, I do not have to rely on statistics.

I see and hear it every day.

No change in the insurance rates and the trim notice was also a big

disappointment to most home owner, high gas prices and electric costs,

Pinellas County is suffering a lot.

I talked to a lot of people that are working at grocery stores, restaurant and shops etc.

The cost of living has gone up so much, but their paycheck has not.

So, I my mind the rate cut was long overdue, but at least we will see some positive

Movement in the financing and mortgage business from this.

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