I am reading the real estate news articles from the California Association of Realtors this morning and here are the headlines…
The very next article says:
So, it’s really easy for me to understand how buyers and sellers are confused with the information given. In the SAME publication, a totally different opinion is offered. We really cannot decipher this information without reading the full article, but even after having done that, it is still a “toss-up” as to whether our market is strong or weak. I am guessing it’s good in some areas and NOT SO GOOD in others. That is what I personally have been seeing. It really is a difficult situation when you are the agent as it’s hard to tell what will sell and how quickly and what will not. I have had a listing for about 70 days that I thought would sell quickly. Still sitting and in a great area. I have another getting lots of showings but no offers. Priced right, the sales are hard to predict anymore. What do the buyers really want? Feedback is good, but not enough to show realtors where to go with the inventory. So much for “having a crystal ball, huh?”
When talking to buyer’s, I am finding it very difficult to qualify for a loan anymore. Lenders seem to have gone from giving EVERYONE a loan, to NO ONE a loan. I have watched the process first hand and it’s extremely difficult. The lenders are asking for all but your first born anymore and it’s almost an invasion of privacy in my opinion, the extent of information they are requiring. It never used to be this difficult and now with the new TRID – well, that just makes it that much MORE difficult to cruise through the acquiring a loan process. I am sure hoping something will be done and soon to make this less difficult.
You can go here to see more information like this and watch the market yourself.
http://www.car.org/marketdata/CA Association Market Data
Laura Francis