Well the Federal Reserve Bank lowered the discount rate once again and this may be the last decrease for the remainder of the summer. Quite frankly the government does not know what to do. As the middle class comes under increasing pressure the top 1% seems to be walking off with all the furniture. Yikes, what can they do with all the money they are stealing? Do they actually think they can take it with them? Do they actually believe looting the country makes them smarter or better? Quite the contrary. I have it on good authority they will not like what’s waiting for them and there’s nothing they can do about it.
How does this relate to Sedona real estate? For one, the banks are not funding as many loans as they should be. Some local industry players claim more than 40% of the loan applications are not closing escrow, usually becuase the banks are finding some lame excuse not to fund the loan. In reality they just don’t have the money but they like to pretend the process is still working. I’ve read some sources that claim the banks are funding only 24% of the loan applications submitted. So obviously this is affecting not only Sedona but the nation as a whole. To succeed or sale a property today many sellers should consider financing some of the loan. Write in your MLS details that “owner will carry.” This is the trend of the future.
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Filed under: General Observations | Tagged: general, homes, loans, Sedona
