Okay, so let me get this straight -- now we have the Mayor of Baltimore suing Wells Fargo Bank on claims of “reverse red lining” or discriminatory loan practices and there are even rumors of the FBI investigating 10-15 companies on mortgage fraud violations.

So where is all the good news? Well, it just might be feasible to suggest we're turning the corner. There is quite possibly more great times ahead for the Real Estate Investors – and maybe in the near-term. Here are some of the latest indicators as I see it:

· Interest rates on federal funds dropped to 3% on January 30, 2008.

· Mortgage rates are reacting and beginning to fall back to historical lows.

· Few will argue that many of the super-heated [bubble] markets were overdue for a correction – painful but maybe needed for the good of the U.S. market.

· Sellers are very motivated and willing to negotiate and/or assist with expenses.

· Congress is contemplating and most assuredly will make legislation or regulatory changes in the maximum amount of the loans that can be acquired with FHA insured backing (as if folks are not already living in homes beyond their means…the next crisis ought to be a doozie). The democrats are seeking loan limits of more than $700,000 and the Republicans suggest limits in the $600,000 range – moral of the story; both parties agree the $417,000 limit should be raised.

In today’s news from MoneyNews: “Just this week, “No bailout needed”, says billionaire investor Warren Buffett. The investing legend said this week that he thinks the U.S. economy can fix itself soon enough, and without the governments help. "I am a huge bull on the American economy," says Buffett. As for the housing crunch, Buffett says he does not see a major credit problem ahead, or at least not enough to seriously damage the U.S. economy. "I went through 1982 when short-term money cost 21 percent. This is not a tough period,” Buffett said.“

Would someone please show all the dooms day’ers and naysayer’s to the door? Could it be? Cross your fingers boys and girls…

Cheers!

Newhouse