We just closed on this nice Lucas home today priced at $774,900 and surprisingly, there were several other offers on it at the same time. We have another five homes in title, so don’t think the real estate market has shut down. It hasn’t, it’s just slowed down.
One of the biggest differences in this economic crisis and the collapse of 2008/2009 is lenders are still making loans. You couldn’t get a loan in 2009, period. Banks were shuttered for all practical purposes.
However, our mortgage broker contacts are telling us it isn’t a problem getting a loan, but the lenders aren’t going to be making the same mistakes as last time around. That is, the borrower must have a reasonable credit history.
Here’s the Link if you’d like to see more of this home. And please check the “Coming Soon” on our website for new listings, some on acreage and some on city lots. Interest rates are at almost historic lows and it’s still a great time to buy.
