Email
Phone
- 2 Answers
- 1 Listing
Locations:
Profile Link:
About:
I am a professional real estate consultant. You will find that my experience and extensive knowledge of all aspects of the real estate world are invaluable
... show more
Paul F. Simpson, CRS answered:
My short answer to your question is attitudes like the one expressed in your question, and especially all the negative press and the negative perception in the media.
Nothing is holding back qualified buyers from buying a place to live.
Banks are back in the business of banking. The crazy world of non-banking of the past few years which featured 100% financing with no documentation, limited documentation or outright fraud and which contributed to the gold rush mentality is gone. Unfortunately so are the fraudulent crooks who made all the bad loans they knew would never work for the borrower (and who should all be prosecuted for their despicable behaviours-but that's another topic).
Nothing is holding back qualified buyers. In fact, they are out in force and are able to command a bit more respect from Agents and Sellers now that the banking industry has gotten over it's insane period.
A typical Buyer looking for a place to live in a normal market requires good credit, a down payment and due diligence. Now that the 'air' loans are gone, the speculators who helped drive up prices for quick profits have left the market.
True investors are now in the market as they should be: looking for good properties in the better locations that make financial sense. Any 'flippers' still in the market are the saavy buyers they have always been and there are opportunities out there for good investments to be made.
And home buyers who qualify the 'old-fashioned way' are buying homes every day despite rising gas prices, presidential elections, wars and such. As a few of the answers herein have mentioned, if you are a qualified buyer now is a great time to buy.
In fact if you are realistic in pricing you may even be able to buy contingent on the sale of your existing home! Shocking but true now, unlike the past few years when escalation clauses attached to 100% fraudulent loans sent the contingent buyers out the door with little or no respect.
As someone once said 'The worm turns'. Go out and buy a home people! Don't miss out on the great home selection available in most markets.
Nothing is holding back qualified buyers from buying a place to live.
Banks are back in the business of banking. The crazy world of non-banking of the past few years which featured 100% financing with no documentation, limited documentation or outright fraud and which contributed to the gold rush mentality is gone. Unfortunately so are the fraudulent crooks who made all the bad loans they knew would never work for the borrower (and who should all be prosecuted for their despicable behaviours-but that's another topic).
Nothing is holding back qualified buyers. In fact, they are out in force and are able to command a bit more respect from Agents and Sellers now that the banking industry has gotten over it's insane period.
A typical Buyer looking for a place to live in a normal market requires good credit, a down payment and due diligence. Now that the 'air' loans are gone, the speculators who helped drive up prices for quick profits have left the market.
True investors are now in the market as they should be: looking for good properties in the better locations that make financial sense. Any 'flippers' still in the market are the saavy buyers they have always been and there are opportunities out there for good investments to be made.
And home buyers who qualify the 'old-fashioned way' are buying homes every day despite rising gas prices, presidential elections, wars and such. As a few of the answers herein have mentioned, if you are a qualified buyer now is a great time to buy.
In fact if you are realistic in pricing you may even be able to buy contingent on the sale of your existing home! Shocking but true now, unlike the past few years when escalation clauses attached to 100% fraudulent loans sent the contingent buyers out the door with little or no respect.
As someone once said 'The worm turns'. Go out and buy a home people! Don't miss out on the great home selection available in most markets.
|
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
|
|
|
Founding members are a small number of participants who submitted content at launch of Trulia Voices to kick off community discussions.
|
|
Share profile
Paul F. Simpson, CRS is a member of Trulia Voices:
Get the inside scoop on your area and home buying and selling.
Ask and answer questions about real estate.
Build your profile and contact home buyers, sellers and agents.
Report this profile
|
|
|
|
|||||||||||
Copyright © 2012
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Have a question? Visit our Help Center to find the answer