"Great Blog. This is my first time here."

Well thanks Brian. And hopefully not the last!

Nice place you have too. Added to my feed reader.

Great Blog. This is my first time here.

I think with the Dec Fed rate cut on the horrizion as the media covers it the consumer is going to start to fell a good "deal" is close. I have been in contact with alot more clients getting excited about Real Estate again.

Have a great weekend in Phoenix!

Jay,

The reason banks and lenders are hiring is because there is a fundamental shift going on in the mortgage industry. Brokers are being squeezed out and major lenders are focusing on bringing their loan production in house to their retail divisions.

There are a lot of layoff announcements and the best employees are being hired either by the competition or the retail side.

Those that don't make the cut are finding new careers.

I'm definitely seeing an uptick in my business, after a slight slowdown in the fall. Most buyers I'm working with now are coming in with good-sized downpayments. Those that don't have the upfront cash are still finding loan programs that are very reasonable. I've even got a transaction in process that's a no-doc loan. Inquiries for next year purchases are on the upswing, too.

Speaking of which, I've been meaning to write a post on this.

These are my guesses.

Calendar 2007 will be the bottom for number of sales. 1) Sales in 2007 were incredibly low. 2) Prices in 2008 will be lower. 3) There is a lot of pent up demand.

I don't expect sales to be a lot higher in 2008, it will still be a bad year. However, lenders and Realtors as a whole will make more money as the number of sales increase. This won't help home sellers because prices will continue to fall.

First half of 2008 will be the peak for the number of foreclosures. (I stole this idea, more or less, from Tom Ruff.)

January 2009 closings will be the bottom for median home price.

I reserve the right to change my opinion after breakfast... after every breakfast.

A lot of good lending companies are hiring, because good displaced loan officers are looking for better new homes. I know for instant that State Mortgage is known as one of the best mortgage companies to work for in the valley. I also interviewed with the president in the past, and I know he only hires the best. (Yes I got offered a job) This might be why some companies are growing. Just thought I would throw in my 2 cents about lender land.

"Great Blog. This is my first time here."

Well thanks Brian. And hopefully not the last!

Nice place you have too. Added to my feed reader.

Great Blog. This is my first time here.

I think with the Dec Fed rate cut on the horrizion as the media covers it the consumer is going to start to fell a good "deal" is close. I have been in contact with alot more clients getting excited about Real Estate again.

Have a great weekend in Phoenix!

Jay,

The reason banks and lenders are hiring is because there is a fundamental shift going on in the mortgage industry. Brokers are being squeezed out and major lenders are focusing on bringing their loan production in house to their retail divisions.

There are a lot of layoff announcements and the best employees are being hired either by the competition or the retail side.

Those that don't make the cut are finding new careers.

Let us hope that this is an indication of the worst being over.

I'm definitely seeing an uptick in my business, after a slight slowdown in the fall. Most buyers I'm working with now are coming in with good-sized downpayments. Those that don't have the upfront cash are still finding loan programs that are very reasonable. I've even got a transaction in process that's a no-doc loan. Inquiries for next year purchases are on the upswing, too.

At our local level we are seeing these same indicators. And frankly, more activity than we see in a normal winter season.

Speaking of which, I've been meaning to write a post on this.

These are my guesses.

Calendar 2007 will be the bottom for number of sales. 1) Sales in 2007 were incredibly low. 2) Prices in 2008 will be lower. 3) There is a lot of pent up demand.

I don't expect sales to be a lot higher in 2008, it will still be a bad year. However, lenders and Realtors as a whole will make more money as the number of sales increase. This won't help home sellers because prices will continue to fall.

First half of 2008 will be the peak for the number of foreclosures. (I stole this idea, more or less, from Tom Ruff.)

January 2009 closings will be the bottom for median home price.

I reserve the right to change my opinion after breakfast... after every breakfast.

A lot of good lending companies are hiring, because good displaced loan officers are looking for better new homes. I know for instant that State Mortgage is known as one of the best mortgage companies to work for in the valley. I also interviewed with the president in the past, and I know he only hires the best. (Yes I got offered a job) This might be why some companies are growing. Just thought I would throw in my 2 cents about lender land.

That would be good news if as you say there is an upswing in the US mortgage market. The ongoing crisis has been having a negative ripple effect on world markets, because US financial cues impact stock markets the world over.