{"id":2170,"date":"2007-11-06T08:31:03","date_gmt":"2007-11-06T15:31:03","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2170"},"modified":"2007-11-06T08:41:13","modified_gmt":"2007-11-06T15:41:13","slug":"its-a-great-time-to-buy-but-this-time-for-different-reasons","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2170\/its-a-great-time-to-buy-but-this-time-for-different-reasons\/","title":{"rendered":"&#8220;It&#8217;s A Great Time To Buy!&#8221; &#8212; But This Time, For Different Reasons"},"content":{"rendered":"<p><img decoding=\"async\" alt=\"Pirate's Booty\" src=\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/11\/pirates-booty.jpg\" \/><\/p>\n<p>You hang around enough real estate agents, and you start to understand why &#8220;it&#8217;s a great time to buy real estate&#8221;.  The reasons are many:<\/p>\n<ul>\n<li>&#8220;You get terrific tax deductions.&#8221;<\/li>\n<li>&#8220;Long-term, real estate is a fantastic investment.&#8221;<\/li>\n<li>&#8220;With so much product available, you&#8217;ll be able to set <em>your <\/em>price.&#8221;<\/li>\n<li>&#8220;This is the slow season &#8212; sellers are desparate.&#8221;<\/li>\n<\/ul>\n<p>Well, now you&#8217;re going to hear from a mortgage guy why it&#8217;s a great time to buy real estate:<\/p>\n<ul>The banks may not lend you money for very much longer.<\/ul>\n<p>The Federal Reserve surveys senior bank lending officials each quarter and not since 1990 has getting an approval for a residential home loan been as difficult as it is today.  <\/p>\n<p>And before you think I&#8217;m talking about &#8220;sub-prime&#8221;, think again.  This is for <em>all <\/em>loan types &#8212; &#8220;prime&#8221; loans, too.<\/p>\n<p>I read the story in <a href=\"http:\/\/www.marketwatch.com\/news\/story\/story.aspx?guid=%7BD728F5F4%2DEFC0%2D4273%2D9F89%2D7B63AD900AE5%7D&amp;siteid=rss\">Marketwatch<\/a> as reported by the man with the best name in real estate reporting &#8212; Rex Nutting.  Two out of every five banks surveyed tightened its lending guidelines for borrowers with ample income, ample assets, and strong credit, it said.  <\/p>\n<p>As an active mortgage planner, I can attest that this is true.  Before long &#8211; maybe even before the New Year &#8212; I expect that <em>five <\/em>out of five will report tightenening up.<\/p>\n<p>For people searching for new home loans, it&#8217;s like shopping at a supermarket that no longer stocks its shelves.  Before long, there&#8217;s going to be very little food left and you&#8217;re going to go home either (a) hungry, or (b) with something you didn&#8217;t want.  <\/p>\n<p>It&#8217;s wise to do your shopping today, therefore, rather than take the chance that your Pirate&#8217;s Booty will still be on the shelf <em>next <\/em>month.  <\/p>\n<p>Why is today a great time to buy, the mortgage planner asked rhetorically?  Not because real estate is a good long-term investment, he answered.  It&#8217;s a great time to buy because the right mortgage product might not be there to finance it for you tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You hang around enough real estate agents, and you start to understand why &#8220;it&#8217;s a great time to buy real estate&#8221;. The reasons are many: &#8220;You get terrific tax deductions.&#8221; &#8220;Long-term, real estate is a fantastic investment.&#8221; &#8220;With so much product available, you&#8217;ll be able to set your price.&#8221; &#8220;This is the slow season &#8212; [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[],"class_list":{"0":"post-2170","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2064,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2064\/sub-prime-mortgage-crisis-caused-by-unexpected-success\/","url_meta":{"origin":2170,"position":0},"title":"Sub Prime Mortgage Crisis Caused By Unexpected Success","author":"Brian Brady","date":"October 19, 2007","format":false,"excerpt":"Sub prime mortgage are defaulting at record proportions.\u00a0 Lenders are closing their doors and confidence is waning on Wall Street. Greed, corruption, and irresponsibility have all been cited as the reasons for this contraction and collapse. While these factors might be contributing reasons, they are all byproducts from the underlying\u2026","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2884,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2884\/zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads\/","url_meta":{"origin":2170,"position":1},"title":"Zillow.com&#8217;s long-awaited mortgage lending service offers anonymous customized loan quotes to consumers, affording loan originators the opportunity to compete transparently for free mortgage leads","author":"Greg Swann","date":"April 2, 2008","format":false,"excerpt":"Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We've known for nearly a month that Zillow's offering would include working loan originators in some fashion. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators.\u2026","rel":"","context":"In &quot;Disintermediation&quot;","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4812,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4812\/other-types-of-credit-may-be-feeling-the-crunch-but-home-mortgages-are-still-readily-available\/","url_meta":{"origin":2170,"position":2},"title":"Other types of credit may be feeling the crunch, but home mortgages are still readily available","author":"Greg Swann","date":"October 4, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Other types of credit may be feeling the crunch, but home mortgages are still readily available Bad news about the economy is coming in from all directions, so you may be in the mood for some good\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4418,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4418\/fannie-and-freddie-fall-to-foreclosure-but-still-lenders-lend\/","url_meta":{"origin":2170,"position":3},"title":"Fannie and Freddie fall to foreclosure, but, still, lenders lend","author":"Greg Swann","date":"September 14, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Fannie and Freddie fall to foreclosure, but, still, lenders lend I write this column at the beginning of the week, and it appears at the end of the week. My topics are usually timeless, but, if I\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2355,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2355\/were-all-sub-prime-borrowers-who-consume-oil\/","url_meta":{"origin":2170,"position":4},"title":"We&#8217;re All Sub-Prime Borrowers (Who Consume Oil)","author":"Brian Brady","date":"December 12, 2007","format":false,"excerpt":"Residential lending is in a pretty tough spot. Mounting losses, from former white-picket fence owners, are putting a dent in the country club sets' wallets. The problem is not unlike the one we faced 20 years ago; bankers turned into riverboat gamblers. That's all changed. Today, sobriety is the buzzword\u2026","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1555\/subprime-lending-fallout-goes-upstream-to-take-down-two-major-hedge-funds-what-does-this-mean-to-real-estate-investors\/","url_meta":{"origin":2170,"position":5},"title":"Subprime Lending Fallout Goes Upstream to Take Down Two Major Hedge Funds: What does this Mean To Real Estate Investors?","author":"Cooksquared","date":"June 20, 2007","format":false,"excerpt":"Two major Bear Stearns Hedge Funds face foreclosure due to their significant exposure to the subprime lending market. While this does not fall under the category of real estate investor, I spent last summer working for Bear Stearns and interacting with many of their hedge funds. Based on the very\u2026","rel":"","context":"In &quot;Blogging&quot;","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2170"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2170\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}