Whether they need their head examined or not they are out there with money, motivation and desire. When that meets financing at better terms that means more sales. The bump up on the conforming to 697K would not be 70K more it would be over $150K. Many of these potential buyers will have cash to put 20% down or more so an increase in the loan limits of $150K raises the bar for them by almost $200K. How many and how quickly they would act is anyone’s guess. Dont think they arent out there. I meet people like that all the time and know I cant be seeing all of them. It would make a difference in the 700 to 900K price range and a significant one at that.
Regarding Ohio thats just a running joke with me. I’m a friendly guy and talk to everyone. Last time I drove cross country (1997) people were nice everywhere with one exception. That exception was Ohio where no one we met was nice or friendly. I laugh because my sample size was limited to front desk clerks, waitresses, gas station attendants, toll takers and random people on the street. Far from scientific. Nonetheless, I still carry with myself a feeling that people from Ohio are very unhappy internally and not nice however unscientific it may be. Of course my rear neighbor over the last 10 years is from Ohio and is just about the friendliest most outgoing guy around but I still laugh about my traipse through Ohio 12 years ago.
