First of all, thanks to all who responded to my past blog post.

In the NY Metro Area we received huge boosts in the limits from the FHA. It's great for our market and really looks like it will help move residential inventory. Though it seems that the banks can't decide what is safe? Can't blame them. Did you hear about Bear Sterns? Folks are spooked.

It a great time to buy and take advantage of the still very low interest rates plus the large selection in inventory which ultimately leads to flexible pricing. Some buyers see this and use their forward thinking to take advantage of the opportunity and buy UP in a down market.

When do you all feel that banks will come up with programs that will open up residential lending?