How are you adjusting in the real estate industry with lenders falling?
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After all that babel about lenders and buyers that have committed to questionable loans and lending policies.
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How are you adjusting in the real estate industry with lenders falling?Its a simple answer. Work with well qualified buyers who can use banks like bank of America, or wachovia. Use large banks who do not allow subprime, they will be staying in business for many years. If you have first time home buyers use your states program to get a loan. There are many ways around it, but the best is make sure your clients have a credit score of 680 or above, or 20% down payment
How are you adjusting in the real estate industry with lenders falling?Minnesota is experiencing some similar situations. My business has been pretty bad. My husband and I both work in the industry. We had been selling exclusively for a builder until a year ago. We saw the downturn in Sept 04 during the Parade of Homes here. We agonized over moving our licenses to a regional broker to expand our business into the existing market. But it has been like starting all over from the beginning. We have 5 listings, two have had some activity, but only low ball offers the sellers couldn't accept. So we've only managed one closing this year. I also appraise real estate and when the sub prime market died, so did my appraising business. So we're looking at our options right now too. Not many companies will hire 50+ yr. olds.
How are you adjusting in the real estate industry with lenders falling?check this link its good
http://buyingandsellingshares.blogspot.c...
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