Tick ... tick ... tick ...
That's the sound of time slipping away on lower-priced mortgages, smaller-downpayments, lower interest rates, and cheaper closing costs.
Getting worried?
Tick ... tick ... tick ...
That's the sound of time slipping away on lower-priced mortgages, smaller-downpayments, lower interest rates, and cheaper closing costs.
Getting worried?
I can't figure out what buyers are waiting for. Just like, every September I get calls to list houses that could have been listed when the season was in full swing. Whatcha gonna do?
We keep preaching Joetta .. and hoping that it sinks in for those receptive to hear it. But it does make you shake your head, doesn't it? Hope your spring is a good one and you don't have too many September "waiters" ...
Gene
Good evening Gene,
Excellent post..some buyers..lets say savy buyers are taking advantage of making a home purchase and are not waiting for opportunities to slip through their fingers! Otherwise..they will regret not making a decision!
Dorie: Saavy buyers typically align themselves with saavy agents and lenders. Hopefully you and I see our fair share of those buyers this spring and into the coming months. And you're so right ... regrets will be plentiful if they let these prices, programs, and rates slip by ...
Gene
Definitely a time for buyers to start moving before the lending environment and competition gets fiercer.
Hello Gene! I'm not sure what it's going to take for some buyers, but the time is surely right to buy! One thing for sure, they won't be able to say they weren't warned!
Gene - Everything you have highlighted is true. Also of concern is the new rule on LO compensation. Since lenders will be responsible for the cost of "issues" they will undoubtedly raise their rates to build a contingency reserve fund. Get ready for an immediate jump in rates on April 1.
Jane: I agree! I've got my own son out looking right now for that very reason. I think it will payoff for him and his family down the road in many ways. The timing is very good ...
Clark: Always so good to see you and receive your input. And you're right .. I've had clients waffling on this for a year or so in some cases. What's it going to take?? The good argument is there ... and I hope they realize that soon.
Nevin: Good point ... but I'm not so sure that people sympathize or empathize with we lenders on this upcoming event. They should .. as you say, it WILL directly impact them now as of April 1st .. and I believe even more so down the road when smaller lenders and brokers have a hard time competing and fall out of business. Having a smaller number of large banks left to service loans is not a very pretty outlook for mortgage prices or lending service. Hope that your company has ironed out the issues and that you are in good footing ... alot are very nervous right now.
Gene
Gene:
We have to keep educating buyers about what is really happenning on the "street". Unfortunately we have to get our message through the noise of the daily news.
Once again the governments attempt to clean things up in the industry will further muddy the waters.
Markita: Seems like we say that alot, don't we? Both statements! Media plays on the ills and magnifies them for drama. It's working. The public is somewhat paralyzed by it. Of course that perpetuates the problem, which of course .. keeps the media happy because they have more bad news. And yes, our government seems bent on trying to "help" us ... and it will "help" us all right out of jobs ... and a continuing of the problems we see. Very frustrating. Thankfully, you and I have an outlet to try to voice our opinions ... and the truth ...
Gene
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