September 2007
The mortgage credit markets are going through an unprecedented liquidity crunch brought on by many factors, but mainly attributed to lack of controls in the sub-prime and Alt-A mortgage market. Over the course of the past several weeks, we've seen many lenders, both well run companies and not so well run companies, forced to close as liquidity tightened and loan buybacks increased. We've seen major lenders and investors eliminate loan programs, stiffen qualification standards, and raise rates on jumbo loans. At this point no one can determine the extent to which this liquidity crisis will continue, nor what the exact impact will be on the Northern California housing market. We are confident that with time the credit markets will stabilize.
With many homes for sale, finding the right one could be a little like sailing he sea without a compass. The drive from one open house to another takes time, and even the most diligent seeker will miss opportunities. There are many more homes available on multiple listings that an individual may ever know about.
Real estate agents have access to all of these homes. They can assess a buyer's needs and wants and determine which listings could fill the requirements. After that, several homes with the right square footage and in the right price range can be viewed in an afternoon or two.
Factors the agent takes into consideration include the area that interests a buyer, how long various homes have been on the market, whether owner and the buyer or seller may later recommend the agent to others, and either party may buy another house in the future. With negotiation, a favorable deal can be created for both parties. The agent knows whether the property owner has room to negotiate and what the buyer's limitations may be. It could be a perfect fit.
For more information on buying or selling real estate, contact
Victoria Wells
415‐464‐3380 Direct email: vawells@comcast.net
Http://www.marionbesthomes.com
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