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.