Some weeks ago, I wrote an article, “Are Banks Controlling the Real Estate Market?”  Now, more evidence of the Golden Rule (He who has the gold…rules!) is painfully apparent in this Real Estate market.  

Lending institutions, once thought of as pillars of society, are keeping a tight lid on the housing industry.  How?  Simple.  If you offer a home for sale, you are a Seller.  If you loan money to an individual purchasing a home, are you not the Buyer as well?  

Banks are playing both sides of the equation.  With over 4 million foreclosures still tucked away somewhere in the bank’s balance sheet, the American public is waiting for the other shoe to drop.  When will we see the “avalanche” tumbling down the mountain?  Who knows?? 

In addition, banks are changing underwriting guidelines by the hour.  With appraisers on a short leash, how is the hungry first time buyer supposed to find the American Dream?  Getting a loan right now is possible, but ever turn and document is checked and rechecked by the bank’s underwriter. 

In 34 years, there as not been a better time to buy.  If you have the stamina and gritty resolve of a prize fighter, you can do it.  So, take off the gloves and step into the ring.