I have just finished the week from hell. It wouldn't be so bad but it appears this is the new norm. I am writing more offers than in past year but many of my buyers are not getting their dream home because they are being bid out of the race by cash buyers. I feel so sorry for these lovely people because they too want the American dream of owning a home. These are people with good income and good credit but they just have 5 or 10% to put down on their first home. With all the short sales on the market I find it hard to believe that there are this many cash buyers. I am now wondering if the agents are just not accepting our offers because we are using an FHA loan. For many of my buyers this is their best option. These are strange times but I'll keep trying and the market will correct itself someday. Keep smiling!
Howdy and evenen there Sharon
I've been hearen that agents in this area, are turnen their nose up at FHA loans. Not sure as to why they are.
Been there, done that. FHA is hard in our area as the USDA, a form of FHA, will be drying up shortly. There is no guarantee when it may come back. In fact, on my last FHA transaction I am updating the listing agent as we move forward. Not needed, but he is concerned.
Thankfully we hope to close by the end of next week.
There is also the concern over the changes up and coming, and keeping up with them. I have written more offers to have them out-bid and frustrated buyers. Unless otherwise desired I am counseling that buyers go in with their highest, best offer if they really think it is the house for them!
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