The market continues to chug along. The majority of the homes being sold right now are short sales and/or foreclosures. I am personally working with 3 right now. I am beginning to believe that the instructors in the classes I attended on Short Sales were right!! It is really taking a long time to get the lenders to even acknowledge that they received our offer!! We submitted it 3 weeks ago and so far the listing agent hasn't been able to get us any information. We have requested a reply from the lender or we are walking. Our offer expiration date was last week and my client (thankfully) didn't submit a binder fee with the offer. We were to process the binder fee within 3 days of acceptance of the offer. I am so GLAD we didn't throw any money on the table! If we don't hear something in the next couple of days, we are going to start looking for another home. We really, really like this house, but we can't wait forEVER! I'll let you know how it all plays out.
It continues to be a buyers market. Credit is getting tighter though, so please don't wait too long to buy your dream home! Lenders are making it harder to get approved for a loan. I have several EXCELLENT lenders that will work with you to get the very best mortgage possible. Call me today.