Renee

Is it me or has Las Vegas just grown by leaps and bounds in the last couple years?

Sincerely

Tom Braatz

Renee, Great Post!  It is very important for people to know they have options!

Renee

 Your clients are not alone with this in Las Vegas.  The situation is a nationwide issue with builders.  I should know;  all I did was builder financing for years until they came up with the RESPA changes in 96 where they could create their own mortgage companies.

Most of the time they are looking to line their pockets from compensation from placing their clients in higher rates or less favorable programs.

You sound pretty savy and should continue to encourage your clients to search out other options, regardless of whether it be an outside broker or another direct lender.

Merry Christmas

Tom: It isn't just you..LOL!  It still is also!

Rey:  YES IT IS!! Thank you for everything!

Wayne:  You are right about checking out your options regardless if it is a direct lender or a broker.  Thank you for stopping by and adding your way cool insight to this trend that needs to end! 

Bravo! Good for you, in this environment, experience and education counts. There are still countless ways to finance buyers....regardless of the source of the money, though I have to say moving forward, it is getting more and more difficult for the broker side as they're losing control of the money. Our circle of friends constantly refer business back and forth between brokers and bankers as everyone has a niche of their own.

Great post!

Bill:  Great points, thanks for stopping by and sharin gthem!!

Renee, I know that the new home builders do try to push the buyers into their own financing but I educate the buyers on all their options by talking to my loan officer as well as the builders loan officers. 

Hi Renee,

I have a few lenders I work with instead of just one. Being that not all buyer situations are the same, I have them get in touch with a lender (usually one that I work with) that has the best loan program for them. However, since many of the builders have their own lenders and are offering deep discounts if they use their lender, usually I will get my clients qualified with a lender I know and then bring that up with the onsite sales agent. In current market conditions, I have been able to "write an offer" to the builder with using our lender. This of course doesn't ALWAYS work, but in most cases we can find a happy medium.

With current market conditions...I'm surprised that the builder didn't out-source the loan to someone that could close it. 

Roberta:  It's frustrating!  I almost lost a buyer because of a builder that said they don't qualify for a program they do qualify for!

Heather:  I am surprised they didn't do that either.  They wanted it for their direct lender no matter the interest rate first.  They would rather kill the deal over sending it to their broker.

Ahhh.its non stop on lack of regular financing here in Central Fl too,,,keep your headup and Keep on blogging!!!

Mike:  It's rough but we will get through it.  Lots of activity here right now with prices sliding backwards!

Renee..I signed up for your web letter..nice job, very nice job...We too are facing challenges.. we are buying bank REo properties that need rehab...by the time we are getting them to market, the prices are down again..Its going to get tougher...SO we are dealing with investors now with deep pockets that will hold the notes for up to two years after we finish the homes and put them into a lease option..The values should have stablized in two years...Thats out thoughts anyway...

Renee - so good!  once again you prove that all real estate is local.  or to paraphrase - all real estate with local concerns have those concerns in all localities!