Now that I have earnestly and safely disposed of the MEME my friend from Lehigh County, Jason Sardi, respectfully imposed upon me, I can get on with the business of survival in a still tractionless real estate 
market...
Someone asked me this morning how business has been, and I responded with just that analogy...It's been like a car stuck in the snow trying to gain traction...the more gas pedal we depress, the deeper we get bogged down in the snow...I added that if only we could gain a little traction we might be able to pull ourselves out of this mess and get the market going in the right direction 
again...!!!
No one yet knows on which side of bottom we are, but most people agree we are darn close...
One of my neighbors asked me over the weekend if I thought interest rates were going to go below 4 and 1/2 percent... "That's an unfair question", I responded... "No one knows what interest rates will do, otherwise they wouldn't be in this business, they'd be at one of the casinos or race tracks replenishing their 401K"...
I did find out that this neighbor currently had a fixed rate 30 year mortgage at 4 and 3/4 percent...When I offered that he should just sit on that mortgage, consider himself lucky to have such a mortgage, and not be so greedy to see the rates fall any further as this would hinder an ultimate economic recovery...he became convinced, as I am, that the rates will shortly be climbing higher and perhaps at warp speed...
In other words, if I were in the market to make a real estate purchase in the not too distant future, and if I could secure a mortgage under 5 with little or no points...I think I'd be inclined to get off the fence and make the move...
By the same token, If I were in a position to refinance...I would do it now...especially if I could lock in to 
something below 5 percent...Greed will get you nowhere...
Here's my rationale...If I can get a good buy at a better than reasonable price, and if I can qualify for a mortgage at 5 or slightly below, then, any rise in property values or interest rates, both of which are more than likely to occur...will make me look like a prophet or expert in the field of investments...
And who doesn't wan't to be an EXPERT...
