Archive for October 8, 2008

Credit Crunch- Housing and Development info

What is happening and some real estate news from

Kohrman, Jackson & Krantz Real Estate Blog Read the following articles in entirety
through this link -up

Acquisition and Development Loans – Where Have They Gone? by Connie Carr

One effect of the mortgage and credit crisis we are facing today is the impact it has had on developers. First, the difficulty in selling newly-built homes in a down market, battling falling prices and stricter mortgage lending requirements. Second, the banks have stopped making A&D loans (acquisition and development), bring some developers to a virtual standstill. Many of these developers have an excellent track record, but that doesn’t seem to matter right now.

AND
The “Housing Glass” is Half Full – Buy Before It Fills Up
Posted by Stephen D. Richman,

Now that the ink is drying on the “bailout bill,” how long will it take the housing market to recover; and to what extent? Fortunately, we know that based on the historic, cyclical nature of the housing market, there will be a recovery. “Historically, housing has led the nation out of economic doldrums”, said Lawrence Yun, National Association of Realtors (NAR) Chief Economist (quoted in a recent “E-article” by Walt Molony, at the National Association of Realtors’ website). “The faster (a free flow of credit) happens, the sooner we’ll see a broad stabilization in home prices that in turn will help the economy recover”, Yun said.

October 8, 2008 at 11:18 pm Leave a comment


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