Until recently, it was very difficult for Trivalley home buyers with little cash to get into the housing market due to the strict loan guidelines. I remember about 18 months ago, when home buyers COULD easily attain a 95%-100% loan program to buy a house if they wanted to, but were deciding to wait on the sidelines due to the market conditions. Well, that all changed when the banks had to tighten up the loan guidelines. At that point, the sides were switched with buyers who were ready to move forward, but COULD NOT qualify for a loan based on the new programs and requirements.The combination of qualified buyers who wanted to wait, along with willing buyers who couldn’t qualify had been a leading factor to our current housing inventory in the Trivalley…no one was buying! So what’s changed since? Continue Reading
