Happy July 1st !  We are halfway through a very interesting year.

For all the predictions of gloom and doom in the real estate arena, everything seems to be OK for most people involved in real estate.

Most of my business at McCue Mortgage has always been Conventional, CHFA, VA or FHA.  The sub-prime melt-down may be hurting those involved but most buyers and sellers weren't looking for or needing sub-prime loans.  I always tried to find an alternative to sub-prime for my credit or income challenged home buyers.  I did not look at sub-prime as my main source of business. 

Realtors, appraisers and other active lenders in the marketplace are commenting to me that we are getting back to a normal market.  Of course everyone's definition of "normal" may vary but all in all, people are still looking to buy a home to provide a nice shelter for their family in a nice neighborhood that they want their children to grow up in or just the homebuyers to enjoy.

Southeastern Connecticut is very active in the <$300,000.00 market.  The programs such as My Community CHFA, DAP, ADDI, VA, FHA and Rural Development are helping lots of buyers obtain their first home.  Take advantage of these programs.  They are workable, easy to deal with if the lender is familiar with them and accomplishing what they are supposed to do - helping buyers purcahse a home.

I am optimistic  for the second half of the year.  I hope you are, too.

Enjoy the 4th.

 

3 Comments on HALFWAY THROUGH THE YEAR

JUL
01
2007

i as well do mostly conventional mtgs

 

i maybe do 3-4 sub prime loans each year

 

most of my referals happen to be people w good credit and income
10:32am • #1
241,116 Points
That seems to be where the market is and we continue to work with these bankable clients.
10:36am • #2
1,356,638 Points 242 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Phil, same here.  I was never a big fan of the Subprime Loans and only did them when there was no other alternative.  Things are also looking good here in Middlesex County and I am also looking for a good second half of the year.

By the way it is good to see you blogging again!!!! 
8:40pm • #3


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PHILIP TURNER-MORTGAGE BANKER SINCE 1980

New London, CT

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MCCUE MORTGAGE COMPANY

Address: EIGHT UNION STREET, CORNER OF UNION & METHODIST STS., NEW LONDON, CT, 06320

Office Phone: (860) 444-0650

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Mortgage information and lots of other thoughts from a long time SE Connecticut home financing professional.


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