real estate market: Fix The Market - Post One!
- 11/18/11 05:44 AM
So, we all have an opinion about what can be done to fix the market. Several opinions, actually. I think of random ideas at various times, and lucky you, you get to hear the one that just popped into my head! Some entity should make it easier for investors to purchase single family residences. I really like Fannie Mae's HomePath loan for investors that allows for as little as 10% down. It has no mortgage insurance (but it does have a higher rate). But it's only good for Fannie Mae homes approved for HomePath financing. Freddie Mac should come out with … (0 comments)
real estate market: The Real Estate Market In Layers
- 10/25/11 05:43 PM
Your local real estate market can be like a layer cake. You know the kind I'm talking about, the one with the big base where the next levels get smaller and smaller until they hit the top. The base is the starter home market. This is where the action is in most markets, good or bad. There's always a starter market. The next layer is the move up market - this is where the market starts to splinter a bit.... Economic conditions affect how much buyers can move up. Right now, in some markets, the move up market is hurt the worst. Folks … (2 comments)
real estate market: Is The National Association of Realtors Hurting The Housing Market?
- 10/15/11 08:29 AM
Yesterday, a fairly sophisticated home buyer called me about a pre-approval. He and his wife own a home, and a vacation home. This is a successful business couple who are doing well in the residential construction market despite the current economy. He indicated that they wanted to buy a new primary residence. His question to me was "We can get together about 10% down. Can we even buy a new home with less than 20% down?" It's no wonder they are confused. Every other article where leadership of the National Association of Realtors is quoted, every press release they issue usually … (5 comments)
real estate market: Time Machine? Is It 2006 Again?
- 05/11/11 07:43 AM
So, as of today, one of my pre-approved borrowers has made 4 offers on houses in the $150,000 price range and been outbid by other buyers! His offers have not been low-ball offers, several have been made above the asking price. Another agent told me today a buyer for a Happy Valley (aka Death Valley) house was outbid on a $325,000 house by $10,000! I feel kind of like Doc Brown kidnapped me in his DeLorean and took me back in time to 2006! Several of my other pre-approved buyers are facing similar situations, and I'm hearing from agents that this … (0 comments)
So, we all have an opinion about what can be done to fix the market. Several opinions, actually. I think of random ideas at various times, and lucky you, you get to hear the one that just popped into my head!
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