4 Comments

1. 

   livinincali on April 3, 2013 at 11:26 am

   Buy now or be priced out forever?

   BTW The Obama administration seems to think the housing recovery is leaving too many people behind, so guess what the solution is. Make loans available for people with weaker credit. Housing bubble 2.0 here we come.

   Washington Post Story

   President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

   In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

2. 

   Jim the Realtor on April 3, 2013 at 12:39 pm

   The government can do anything they want, but it won’t change the market around here.

   Real estate is for rich people.

   Those with FHA financing can step to the back of the line, and as long as there is competition, they won’t have a chance. Every agent tells their seller to take cash offers and big down payments before even looking at FHAs.

3. 

   Jim the Realtor on April 3, 2013 at 12:52 pm

   One example:

   http://www.mercurynews.com/business/ci_22930687/bay-areas-average-homebuyers-shut-out-by-cash

4. 

   MNReader on April 4, 2013 at 9:14 am

   i don’t get it. why would an agent recommend their seller to take a cash offer over a bigger offer with financing? Are financed offers, fha and otherwise, falling through these days? and are sellers expecting prices to fall in the meantime? or, the cynical option, are agents just telling their sellers to take the offer that pays the commission quickest?

   if the story is simply that cash offers win because these cash guys can find an extra $5k to make it theirs, then, it’s not really a story about financing it’s a story about prices.