While I was working this morning I had CNBC on in the background (I know I am not the only one). The market is swinging back and forth over the last several weeks and it makes me (I am sure others too) a little nervous. Well, the Real Estate market is making a swing of it’s own. Is it time for the next cycle? I am not sure but I can tell you it is (IMO) easier to predict the swings of the Stock Market vs predicting the swing of the Real Estate market. What are your thoughts?
Early last year (2006) we had a meeting of local agents and one of the speakers was a lender (no need to mention names). The lender was going on and on about the great packages they had for buyers and that a zero down loan was very typical.
I had to ask the question…(I like asking questions)… so I did:
How many of your borrowers are getting zero down loans???
The response she gave me startled me…her answer….are you ready for this…one word… “MOST”
I believe the was the turn in the market!
Were others seeing this too??? Please share your stories?