Market Update NEW YEAR…..NEW LIFE? Is the horrible recession finally over?  We cannot say "yes" just yet, but rest assured all the signs indicate that we have passed the worst point.  There is really nowhere  to go but up!   Most economists think we are going into a period of long slow growth.  Considering the last 10 years of extremes, I think this will be a great thing.  New life for some of us, and continued moderate prospering for others.  The one thing all Americans want is …STABILITY!    The key is to stop our credit markets from seizing up, so that businesses can borrow and spend to grow themselves and in the process, hire more employees.  In Kentucky, we continue to survive better than much of the USA, even though we still feel the pinch.   The real estate market in Kentucky is by no means good.  However, we see some demand for property starting to appear in our markets.  The problem remains not with the buyers but with THE BANKS!  They have lost so much money in the last few years, the seem more reluctant than ever to loan money to buy property.  New credit score guidelines now require a 640 credit score to qualify for a conventional mortgage (the old requirement was 620).   This will certainly take even more buyers out of the market and force many more Americans to rent in the next year.  Renting is not all bad  though.  Renting allows you to keep your options open, while you work on preparations for improving your credit in order to qualify for a mortgage down the road.  All the while, you have no commitments to the property and you don't have to worry about maintenance.   At Rent2ownlouisville, we offer short term leases, pet friendly properties, poor credit/bankruptcy acceptance leases.  Check our website for currently available rental properties.  We also offer the option to move up to home ownership on any of our rental lease terms (with deposit).  For those of you looking to step up to home ownership in the near future, check out our LAND CONTRACT program.   This continues to be our most popular product because it allows you to select your property  right now.  We will buy it for you, and lease back to you, while helping you achieve the score you need to qualify for a mortgage.  You will make payments to us while living in YOUR house, until you qualify for your own mortgage.   In 2011 we are very excited to announce that we have partnered with local Kentucky builders to allow our clients to select a home they would like to build.  This new opportunity allows you to essentially pick a lot and a home design that suits you now….even if you cannot currently qualify for financing!    Rent2ownlouisville will continue to help our clients achieve home ownership with our "out of the box" innovative programs.  We personally value each client relationship and genuinely enjoy helping good people strive!  The current mortgage/lending environment should not prevent hard working, responsible people from becoming property owners.  We are here to help!   Contact us anytime for consultation or questions of any kind at zcd723@gmail.com  or 502-777-5246  and remember to check back on the website for updates.