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[EconoIndicators] Beige Book - July 23, 2008: Tighter standards for construction loans were reported in the Atlanta and Chicago Districts, and San Francisco indicated that credit standards remained quite restrictive for both residential real estate and construction loans. Tighter standards for business loans were reported in three Districts, but banks in the Atlanta District were reported to be competing more intensely for business customers with good credit histories.
[Wholesale Access] Wholesale Access August 1 Economic Forecast: As of July 18 the stocks of the two GSEs had fallen about 60% over the prior month and there are proposals being discussed in Congress to change their charters and put them under stiffer Federal oversight. On July 30, with the government giving them virtually a blank check, the stocks of both GSEs doubled from their trough on July 11.
[The Housing Bubble Blog] The Boom Has Turned Into A Bust For Many: ”˜As more prices fall, there are more homes with no equity,’ said the director of Real Estate Research Council at Cal Poly Pomona. ”˜If you have no equity in your property, and prices are falling, you have no incentive but to walk away.’”
[money blog] Southern California Housing Still Not Finding a Bottom: Worst ...: “The sharp and sudden drop of the Southland median price reflects a combination of factors, mainly depreciation, especially in areas hammered by foreclosures, and a big shift in the types of homes selling. Since last August, when the continuing credit crunch hit, sales have plunged for more expensive homes financed with “jumbo”
[makemoneyfree.org] Digest Number 1116: Industry experts say interest absorption plans were introduced in the late 1990s to spur home-buying in the downturn. Then, not all plans had a deferred payment component - in some, developers just absorbed interest until completion.
[contributing Frisco Real Estate Opinions, Ramblings & more!] No part-time agents, Only part-time efforts: I was new to the business and I honestly didn't know much about what I was doing - except for my own personal home buying and rental properties I have bought. They were very patient with me.
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