Mortgage meltdown or media hype?

Both!  I have been in the mortage business for 20 years and in Real Estate for 2 years.  I can tell you I have never seen the Market rid itself of Mrotgage Companies like this year.  Having said that.... it is the market correcting itself and the pendulum swings on.  This will happen again to a degree.

No doubt that there is an oversupply in the Detroit area.  Partially the result of an unusually large number of people being able to buy homes a couple of years ago (height of the non-conforming era) that can't today.  But I'm still happily closing every week, even in tough times - so there is definitely over-hype.  I always remind myself that the media is mostly interested in selling ad time for tampons and toilet paper - so they will push whatever story draws the largest audience.

By the way, congratulations on being in probably one of the bright spots of the Michigan market.  I've loved the New Buffalo area for a long, long time - well before the rise of the Four Winds, which I can imagine has charged up your market.

Check out my most recent post please entitled:

One World Taking Risks

http://activerain.com/blogsview/244617/One-World-Taking-Risks

 

It may enlighten you and if not it will sure give us something to discuss.

PR 

Hi Mario

I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to a fantastic Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success the industry has to offer.

Enjoy!!

Below are some useful sites and groups you may want to visit right away: You can also use the “search” feature to find almost anything on Active Rain.

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I hope you'll find these to be useful tools in helping you get started here on Active Rain.  You will meet many wonderful people here!! Again, welcome to Active Rain, the best place for your Blog!

Good Luck to you and your business!

The Dallas market is solid since we never had the run up in prices. Fortunately, the jumbo loan situation has settled down so my qualified buyers can get their non-conforming loans but sometimes these are at a higher interest rate than before.

Hello Mario,

    Welcome to active rain, it's a great online community. Enjoy!

 

Leo Namiot

Benchmark Mortgage

Connecticut & Florida Mortgage Specialist