lindismith,
Do you know if they got 30 year fixed? I would be surprised if anyone these days would think an ARM is a good idea.
IMO, the only buyers out there are people who have figured out how much they can afford, and want to buy a place that they plan to stay in for awhile, so will go 30 year fixed with no surprises. The old days of counting on 20% appreciation and refinancing in 3 years are behind us.
So it seems the pool of buyers will be shrinking rapidly.
