Comments on: It’s Not ALL Doom and Gloom in Lender Land http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/ Phoenix Real Estate -- Anything and everything about it. Plus random musings... Now with Phoenix area MLS Listings Search! Sat, 21 Nov 2009 05:34:24 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Jay - The Phoenix Real Estate Guy http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22280 Jay - The Phoenix Real Estate Guy Sat, 01 Dec 2007 19:12:14 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22280 "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.”

Well thanks Brian. And hopefully not the last!

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

]]> By: Brian LeBars http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22277 Brian LeBars Sat, 01 Dec 2007 18:33:42 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22277 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! 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!

]]> By: Nigel Swaby http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22259 Nigel Swaby Fri, 30 Nov 2007 16:29:30 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22259 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. 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.

]]> By: Dining Room Set http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22256 Dining Room Set Fri, 30 Nov 2007 15:12:11 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22256 Let us hope that this is an indication of the worst being over. Let us hope that this is an indication of the worst being over.

]]> By: Dru Bloomfield http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22255 Dru Bloomfield Fri, 30 Nov 2007 14:59:49 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22255 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. 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.

]]> By: Steve Dalton http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22254 Steve Dalton Fri, 30 Nov 2007 14:17:39 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22254 At our local level we are seeing these same indicators. And frankly, more activity than we see in a normal winter season. At our local level we are seeing these same indicators. And frankly, more activity than we see in a normal winter season.

]]> By: John Wake - Real Estate http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22253 John Wake - Real Estate Fri, 30 Nov 2007 05:51:39 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22253 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. 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.

]]> By: Gary Miljour http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22252 Gary Miljour Fri, 30 Nov 2007 05:50:45 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22252 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. 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.

]]> By: Online furniture store http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22250 Online furniture store Fri, 30 Nov 2007 04:54:41 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22250 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. 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.

]]> By: Jay-Z » Blog Archive » It’s Not ALL Doom and Gloom in Lender Land http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/#comment-22248 Jay-Z » Blog Archive » It’s Not ALL Doom and Gloom in Lender Land Fri, 30 Nov 2007 00:29:15 +0000 http://www.phoenixrealestateguy.com/its-not-all-doom-and-gloom-in-lender-land/586#comment-22248 [...] Read the rest of this great post here [...] [...] Read the rest of this great post here [...]

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