In today’s market, are buyers more likely to buy? The answer is both yes and no. Many markets, including the Reno Sparks Incline real estate markets, are still plagued by low inventories. But fortunately, formerly underwater homes are starting to see equity in their homes again! Homeowners who were formerly strapped because of negative equity, are now experiencing a new found freedom and mobility. Some are more willing to sell now that the equity has began to turn around.
Currently, the challenge is finding qualified buyers. We have seen changes in both FHA and conforming lending underwriting standards which means previously qualified potential homebuyers are now ineligible. Many of the current available homebuyers have to downplay their wants or settle for less than desirable mortgage loans. Since some are unhappy with these two scenarios, they continue to rent. Great for real estate investors, but tough for home sellers.
What do you see in the market?
Bruce Specter
CELL: (775)338-6915
OFFICE: (775) 824-3640 x126
nvmortgageman@gmail.com
http://www.summitfunding.net/bspecter
I have spent the past 20 years involved with real estate and finance.This after a successful career in marketing high technology, from writing guides for IBM to launching and growing a distribution channel for a Fortune 500 company.
Even in these trouble times for the banking industry, I truly enjoy what I do: work with people to develop sound real estate financial strategies, whether 1st time buyer, seasoned real estate investor or custom home builder.My best customer is one that gets involved and wants to make the best decision based on situation an requirement.
I am also very involved civicly.VP of Membership for the Nevada Center for Entrepreneurship & Technology (www.NCET.org) having been on the Northwest Neighborhood Advisory Board, EDAWN Intangible Business Advisory Committee,Reno/Sparks Association of Realtors Technology Committee,Committee Chair for several events for Rotary, Founder of the Somersett Small Business Alliance, former President-Elect of the Nevada Association Mortgage Professionals, just to name a few.
Bottom-line, I take what I do seriously, make sure family comes first and do the right thing.Life is good!
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