An open letter to potential buyers

“If it bleeds, it leads…”

I am sure you’ve heard this expression before but if not, it is a turn of phrase the media supposedly uses for prioritizing their stories on the front of the newspaper, opening a news program on TV, or radio shows. The more “profound” the story is and the closer to home it hits, the higher up on the priority chain the story is ranked.

I wish I could tell you that the sub-prime lending stories are exaggerated and that this all isn’t really happening. However, what I can tell you is that banks have money to lend.

During the 10-day sales event, many people came to see Coldwell Banker homes but many of them also seemed nervous that they wouldn’t be able to afford the homes or that banks would not lend them the money- that banks have stopped lending money. This simply is not true.

Our own, in-house lender with Coldwell Banker Mortgage, Fred McFalls, confirmed there’s money to lend to people with good credit. Naturally, they’re not giving it away like they were 3 years ago but we don’t want that.

Even better news is that this is a buyer’s market. Considering how well North Carolina is fairing in this crazy market (and I assure you, we are doing a heck of a lot better than other states) prices and interest rates are probably about as low as they’re going to go. If we can get people off the fence who are considering buying, we can move the NC real estate market in an even better direction.

Lisa