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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Koligman who wrote (100111)	1/14/2008 3:34:23 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<Apologies if this has already been posted, but it is a new 'wrinkle' in the real estate market that I have never seen an article about>> The Washington Post carried a similar story this past weekend. You have to expect that when property values are under pressure after a big run-up and now experiencing slack demand, lenders are going to tighten up on their lending standards and make appraisers behave accordingly in assessing values to properties. It has happened before. It is going on now. It will happen again, probably, at some point in the future. I've sold many properties in decades past where the buyer was required to come up with more down-payment money (or get a second-mortgage loan directly from the seller) so the loan could go through with the primary lender. Real estate is a long-term investment and a very poor short-term investment. Don't buy unless you can afford it right now and want to hold onto it for a long time. Meanwhile, I'm wondering why the news media isn't covering some "creative financing" stories. There are many ways to skin a cat in a down market, and both buyers and sellers can take advantage of alternative financing arrangements.