FSBO BLOG

Many groups give out real estate related information on a regular basis. Looking short term can get you confused and riled with no consistency. Longer term, things come into focus. Todays information shows:

1. Commerce Department announced January housing starts increased 2.8 percent to a seasonally adjusted annual rate of 591,000 units.

2. The Commerce Department also said New building permits, which give a sense of future home construction, fell 4.9 percent to 621,000 units.

3. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity decreased 2.1 percent to 600.5 for the week.

Know the past so you don’t make the same mistakes, trust the future with more knowledge & experience.

Yes, we keep hearing stories of sellers with a qualified buyer ready to close on the sale, but the mortgage lender keeps delaying plus coming up with new documents that need to be completed. Sometimes they act like yours if the first time they have ever given a mortgage on a property.  Here is one reason:

THE BANKS ARE HOARDING THEIR CASH!!, NOT WANTING TO LOAN!! How do we know this, well, according to Federal Reserve data, major banks are now sitting on as much as $1.29 trillion in cash, equal to a record 98 cents for every dollar of existing business loans.  This figure of cash has more than quadrupled from 21 cents in June 2008.

Our suggestion, keep pushing them or contact your congressman or take your business to someone else.

Anybody else had these problems??