In short, thanks to Carl – “It is possible that if a buyer was approved for a specific loan product say with a 95% loan to value and the after the investor looks at the appraisal report and determines the comps are old or the property is in a “declining market” they could turn around and only approve the loan up to a 90% loan to value.”We’re not (yet) in a “declining market,” but I’ve been given indications from several sources that we might be on that track.  Start your education here.Advice for buyers – do your due diligence, be patient, save your money in the meantime.For Sellers – as I said last year – do not attempt to chase the market down.  Beat it down.

Read More