A listing of mine is currently in escrow and the buyer is using cfc with 100% financing. The loan made it through underwriting yesterday. We are due to close the 30th. We have accelerated escrow to attempt to close on Monday and the buyer will rent back the home. Talk about holding our breathe.
A listing of mine is currently in escrow and the buyer is using cfc with 100% financing. The loan made it through underwriting yesterday. We are due to close the 30th. We have accelerated escrow to attempt to close on Monday and the buyer will rent back the home. Talk about holding our breathe.
A listing of mine is currently in escrow and the buyer is using cfc with 100% financing. The loan made it through underwriting yesterday. We are due to close the 30th. We have accelerated escrow to attempt to close on Monday and the buyer will rent back the home. Talk about holding our breathe.
I can’t wait to see the sales figures for the next couple of months…they are going to be a disaster. With banks the size of countrywide facing liquidity crunches, lending has all but come to a halt for anything nonconforming.
I believe this will pass, but it’s going to act as a great catalyst to get the downward spiral turning. Around the time this eases up, the crush of REO’s out there will start hitting the market, and both of these factors will baloon short sales…I’d like to spend some time on the data, but with short sales in the 20% range + REOS and a high vacancy rate, I have to believe will be at 50% highly motivated sellers throughout the Fall/Winter.
I can’t wait to see the sales figures for the next couple of months…they are going to be a disaster. With banks the size of countrywide facing liquidity crunches, lending has all but come to a halt for anything nonconforming.
I believe this will pass, but it’s going to act as a great catalyst to get the downward spiral turning. Around the time this eases up, the crush of REO’s out there will start hitting the market, and both of these factors will baloon short sales…I’d like to spend some time on the data, but with short sales in the 20% range + REOS and a high vacancy rate, I have to believe will be at 50% highly motivated sellers throughout the Fall/Winter.
