Hard Money Bankers - The State Of The Current Market
The current market is an interesting one. Propped up by government money since 2008 with arrows pointing straight up off of the biggest financial meltdown in our lifetimes. It all happened fast....a little too fast. I am not here to scare anyone or be a doomsday writer. The market is changing a bit but it doesn't appear to have a rapid change coming. I have looked back at comps over the last couple of years and the up arrow has stalled. This means , in our local market that most areas are not appreciating at the moment. It seems as if they are holding their line and value but not going up or down. Sideways would be a good word. Stable is another good way to describe it as of this instant. That can always change, but the comps and values we use in underwriting loans are based on what the market is offering now and not what it will potentially offer. There is still a lot of money to be made before we hit a full cycle since the 2008 downswing. There will always be cycles, so buy low no matter where you are in the cycle itself.
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