I hate to say it but the reality is that prices of homes seem to be taking a nice dip downward. Everyone wants a steal/deal and is bidding that way on offers to purchase. I also still see a big hesitation on behalf of the buyers.....very afraid and cautious to move forward. This is a great sign if you are confident and looking to buy real estate. I personally have been buying investment property and continue to do so. Once everyone gets back in and is confident about buying a home again....I will be sitting on the sidelines and more than likely will be selling what I am buying now.
NEW HOME SALES DOWN IN FEBRUARY! Our Gov't says its the weather....WAKE UP! No one can qualify for a mortgage....this is the tightest credit I've seen since getting in the business in 1990. Its is way too difficult to get a loan. Even my great borrowers with huge incomes, great credit and big down payments are being hassled by my lender's requirements to get a loan. This housing crisis won't end until credit starts easing up to a more realistic level.
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