[Fredslist] Real Estate Group

[Weber, David]

I went to the December 3rd  real estate group meeting as a guest riding the circuit from Fairfield County. It was an informative group.  The discussion helped me get a read on the state of other real estate markets and insights into the issues around the reluctance of banks to lend. It seems to me that the banks are not doing what the government intended when giving out TARP money to bail out so many institutions. The banks are simply not eager to lend. Try to get a construction loan. It's nearly impossible. I've also had qualified home buyers in Fairfield County get turned down for no good reason. There have also been problems with appraisers coming in from different counties who have no business appraising homes in markets that they do not know.
All of these problems with the banks continues to put pressure on the real estate market in Fairfield County.  While I am hopeful that the real estate market has hit bottom here, it will continue to struggle until the banks are more co-operative and start lending. What good are low financing rates if you can't get a loan to buy a home?


David Weber
Prudential Connecticut Realty
dweber at prudentialct.com<mailto:dweber at prudentialct.com>
www.dweberhomes.com<http://www.dweberhomes.com/>
203-429-1073 office
203-544-6093 home office
203-451-7888 cell
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