Hi all: I've noticed a real upsurge in my business lately. Granted, I work for one of the best and largest lenders in the whole area and I'm starting to gain traction after working my rear off for peanuts for the first 3 years. But here's what I'm noticing recently.
We started the year not knowing what was going to happen after a pretty dismal 2008 for most of us. Then the refi. boom hit and, to date, hasn't let up much. The interesting thing lately has been the purchase market. That, for all practical purposes, crashed around our feet in August 2007 after the failure of American Home Mortgage and the subsequent takeover of Countrywide by Bank of America.
Lately, I've been getting a call/day from a realtor with a potential customer. Granted, I can't help them all but am encouraged by the agents' moxie and attitude these days. I think the purchase market is starting to rebound and that's a great sign. Most of the stuff selling up here (35-40% of the market) is still short sale, foreclosure or bank-owned. But, let's face it. Our customer loves a bargain and there are plenty to be had.
I'm helping a couple with financing on a builder short-sale and the bank who holds the note is in trouble. Plus, the realtor is a crackerjack. This doesn't mean it will happen but I think there's a pretty good chance. I encourage all of you to keep your chin up. Better days are definitely right around the corner. How are you doing in your neck of the woods? I'm curious. Thanks for reading!
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