Monday, January 21, 2008

Timing the Market? But Can't Get a Loan?

I just ran into this article written by By Rex Nutting of MarketWatch and posted on the MSN Real estate website. Recently, some of my clients have been unable to get a loan because of what happened to the lending industry about 6 months ago.

Click this link to read the article:
http://realestate.msn.com/Buying/Article_mw.aspx?cp-documentid=5697915

From my past experience, I know many people who visit my websites searching for homes in the San Fernando Valley start looking even before they know what they can and cannot afford. That's OK, but if your thinking of moving within the next 3 months, you definitely want to know what you can afford, and possible you may need the time to correct any errors on your credit report.

If your thinking of timing the market for the bottom, I can suggest you visit my Los Angeles bank owned website for homes in the San Fernando Valley selling for up to 50% off market value. Here is the link: http://www.bankowned.la/

Here are some recent articles you may want to read:
Is it a good time to buy a home in the San Fernando Valley?
5 tips for first time home-buyers.
Short sales suck - agents walking away.

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