On my way to show a home today I received a call from an older couple who want to look at a couple of houses. As standard practice I have to justify my time and began to inquire if they have spoken to a lender or are already working with another agent. "We just want to see a couple of houses, why do all the agents keep asking us if we have talked to a lender?"

After explaining the process and spending 20 minutes on the phone I learn that not only have they not spoken to a lender but don't even have a checking account. They would like to buy something and need payments around $530 a month including PITI. That puts them in the $65,000 range and it is hard to find a lender willing to loan such a small amount. I tried to get them in touch with some competent lenders to work with but got the impression that they weren't going to make the call. Can't win them all.

Thanks for visiting my maryannmc.com blog! This is where I plan to journal some of my everyday activities in the Douglasville and West GA real estate market as well as community news and happenings. I am sure there will be much to talk about as the current trends in the market have made for some interesting buyer and seller activity. The recent lender difficulties and consequent tightening of credit requirements have made it more difficult for many buyers, especially single parent and low income families who can pay a mortgage but may not have a large downpayment available. Many buyers are afraid to do anything, waiting for the bottom. Sellers are getting frustrated due to longer times on the market and some homes simply not selling.

It should be interesting to see how it all unravels over the next few months but as a long time real estate investor I have made money by "going against the grain" which means: if everyone is trying to sell, you should be trying to buy. As the great Will Rogers once said: "Buy Land. They ain't making any more of the stuff". I seriously doubt that anyone is going to lose any money long-term on real estate. My personal portfolio is a little light in real estate right now as I sold most of mine off for top dollar a couple of years ago at the height of the market when everyone said this situation was coming.  Investors look out as you may be bidding against me on some of these foreclosures in the dead of winter when few are looking. Hope everyone has a great weekend and I will see you tomorrow.