Sales of existing homes continue to fall according to a recent Bloomberg article (click for full Bloomberg article). In my opinion, the two major factors driving this decline are jobs and lack of liquidity. Unemployment continues to stay at elevated rates which will prevent home prices from totally stabilizing. An even large problem for housing is the lack of liquidity for financing. Banks standards have become increasingly difficult and less people are able to qualify.
Fortunately Fairview Lending continues to lend on residential properties (no primary residences, strictly investment properties) along with commercial properties in and around metro Atlanta. We strictly lend our own money and therefore can close loans that a traditional lender cannot. For more information on Private hard money programs in and around Atlanta please visit www.GeorgiaHardmoney.com or call 404…475…5869.
