Where Are The Homebuyers?
The first thing that I would like to point out in this article because very few say this is “Contrary to popular belief, the banks are lending — albeit more carefully than they did during the bubble era a few years ago.” That’s right, banks are lending. If you can afford to buy a home you can get a loan. You will have to show the documentation to prove this though. As I have mentioned before, it’s not difficult documentation unless you make it that way.
Moving on to the main part of the story and that is even with low rates and property values having come down especially, as the article mentions, in South Florida sales still remain weak. I myself have seen a huge pick up in business for the month of March and going into April and so have many I have talked with. Remember, by the time these numbers come out in the economic data we will already be in April and May. I am sure many are holding off due to worries over unemployment and having to sell a home but I think we will see later on that this time of the year was very busy.