Is the market shifting? I think the buyers are getting shifted by the banks. Those who are willing to buy, have fairly decent credit and some down payment monies, are having a much more difficult time in obtaining financing.
I am not sure what is really driving this, Bank's fear? Unwillingness to embrace FHA mortgaging(not enough money in it for them maybe), or maybe just plain fear of more "default" issues than has hit the reporting. Not enough operating capital!
Any insight here?
Miriam Munzer
Landmark Realty of Orange County
845-294-5303
Greater Hudson Valley, NY
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