Analysis Paralysis

Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #208860

brain Proverbs 23:7 "As a man thinketh, so he is."  What if a man thinketh way too much and doesn't doeth anything about it?  Then we have a serious real estate log jam with inventory out the ying-yang.  Being a mortgage consultant, I see the financial side of real estate transactions and it seems like there's a lot of lookers and not a lot of buyers.  Folks want to be prequalified, but that's about as far as it goes with their level of committment.

Are you guys seeing that in your market?  What is it going to take to get people to stop thinking so much?  As most of you know, we have a massive supply of homes and condos here in SW Florida.  That being said, there are some incredible deals.  Stuff that was listed for $400K in 2005 is being listed for $210-230K now.  Wow.

Interestingly enough, I've had a few investors lately that have managed to break out of this analysis paralysis and they've been buying foreclosures.  Closing one tomorrow as a matter of fact.  Appraised for $160,000; client is buying it for $106,000.

Is anyone else seeing foreclosure purchases pick up?  How about foreign investors with the dollar so weak?  Who is rising up and walking these days?

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