Past few days I have been swamped… sorry for not chiming in but just wiped out…
JWM, seriously I don’t ask my clients where they get there money from, that is the truth. If they tell me that is fine and if they don’t that is fine as well. The only thing I do ask them, and that is if I feel it is necessary, is I ask if they downpayment money has been in their own bank account for several months.
I still do maintain that I do not feel the downpayment money source is as important as some of you guys feel. It is not that I do not agree with the plankton theory because I do. However, that would suggest that at some point in the future we will exhaust the number of buyers correct? However to get a good idea of when that will be we have to know how many buyers are move up buyers, and how many are still out there waiting to buy with move up money. To me it is a very plausible theory that makes sense, however, it is also kind of open ended as to when and how long the plankton theory will seriously thin out the buyers pools in these other desireable areas. Not saying it cannot or will not… I just tend to think like everything else, it will vary on a per area in timing and amplitude so to speak…
