Chico And Glenn County

March has ended and the sales figures do not reflect the sunny optimism of my peer group, but do mirror the unease and outright fear generated by the government in our financial and credit markets.. Explosive spending and outright usurpation of the rights of contracts and the capital markets by Congress and the administration have reduced confidence levels enough to insure a really long slow recovery.. The Keystone Cops couldn't make a bigger mess than the Beltway crowd aided and abetted by the thugs from Chicago. Housing prices continue downward, and why not, since the acceleration of the recent past had no basis in reality. Sales of single family residences in greater Chico last month totaled 52, of which 13, or 25%, were foreclosed properties, Glenn County sales totaled 25, of which 20, or 80%, were foreclosed properties. This is a really alarming situation if you're trying to sell your home, since the competition for buyers is not fairly balanced. The lenders selling foreclosed properties can better afford the loss than you can, and with the government pumping bail-out money into the financial market, (your money), it may very well be that their loss may not be a loss at all. Following the trail of an individual mortgage through to the final buy-back by AIG of a mortgage backed security is probably not even possible, so the lenders made a fortune on the front end of these bad loans, and when all is said and done, with the help of Geithner, Dodd, Frank and Obama, your tax dollars through the bounty of your government in action, they will also make out OK on the back end as well. Business losses and failure are the result of poor business decisions, but apparently if you have friends in finance, or the union, government will not permit you to lose. You don't even have to get up to try again, a benevolent government will hold you up throughout. Pelosi, Reid and Bush share in all the blame to go around, also Paulson and Bernanke. Maybe easier to just provide a roster of Congress.
Didn't mean this to be a rant but it is very difficult for a real estate or mortgage broker to offer meaningful guidance to potential clients in this environment. For those with a genuine need to sell their home, we can get it done. For those with a need to buy a home to live in, we can get that done also, and financed. For those thinking of a home as a real estate "investment", you're on your own. Anyone who offers you advice in that area is probably selling stock market tips on the side, with an equivalent probability of success.
If you enjoy logic you could say: Uncertainty causes fear, the government causes uncertainty, therefor the government causes fear. It does for me anyway.
As usual,
Thanks for visiting.