My New Blog

     It's been a while since the last post but that's what happens when you're busy. As I predicted over a year ago the market for the most part has hit the bottom. Sellers and banks are willing to deal to get property sold, and sales are up for the first time in 3 years. There are many willing and able buyers out there looking for deals. Yes, credit is tighter but no more so than it was 10 years ago.

     The biggest activity is in the under $150K market for 1st time buyers using FHA lending. Unfortunately the programs that allowed sellers to gift money through outfits like Ameridream will no longer be allowed as part of the FHA reform bill that passed congress and signed by the President. They don't want a repeat of 100% financing with no equity to lose that made it easy for people to walk away from their houses.

     Enjoy Labor Day!