BANKS HAVE THE MONEY, BUYERS RETICENT TO USE IT
Posted on February 10, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Discussions with several of the major banks this past week have unearthed the fact that each is sitting on more pre-approved mortgages than at any time since 2006! While they cannot refer to formal research as to why buyers are not moving, anecdotal reports coming from their branches indicate buyers are being very selective and frankly, don’t have a wide selection of listings to view.
Now of course any general comment like that will immediately be the opposite of what’s going on in some localities but it does match our challenge of finding more vendors confident that now is a good time to sell…must be
Filed under: REAL ESTATE | Tagged: Real Estate