Summer Financing Trends

In the recent months we have heard about financing nightmares and I have seen a few first had recently, but in the big picture, there are a variety of options out there and in all price ranges.  Of the 153 homes sold in Lake Oswego from June thru Aug 2011 had good old traditional conventional financing. 

Though traditional sales are the norm there is nothing better than to have a buyer in a short sale so excited because the appraisal for their conventional loan came in 12% higher than the negotiated sales price of the home. 

Tightening of the purse strings is evident in the underwriting overlays that continue, but homes are selling.  And fewer homes are coming on the market helping to balance the inventory levels to available buyers.  The tide is turning as the inventory continues to sell off.