Downward Pressure on Prices Continues - 07/15/09 06:56 AM
The downward pressure on the sales prices of Cape Condos continues as the challenges of getting financing continue.
The very same condo that I mentioned in May had a new buyer and a new lender and fell apart again at the last minute. This time it was about the buyer's income. Needless to say, the bank (in this case Citizens Bank) had preapproved the buyer, received all the information requested in a timely manner, and gave no indication of a problem until the day of the final commitment when they issued a "declination letter."
Another condo in a very well managed, … (1 comments)

 
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Steve Clay

Falmouth, MA

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Keller Williams Mid-Upper Cape Cod

Address: 26 Falmouth Woods Road, Falmouth, MA, 02536

Office Phone: (508) 563-5800 x 104

Cell Phone: (413) 433-3344

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