Good New is always pleasant to hear. Especially true when the good news fits your situation. As a Realtor, I am self-employed as are many in other fields of accounting, financial services, electricians, plumbers, ect. Hearing that mortgage have opened to this group of buyers is another positive sign that the housing market has recovered and that the banks are helping the process.
The only item misconstrued a bit in Jim's Mortgage Matters is the June sales being a bit lower than May. Though a bit unusual as these two months do run very similar and very strong, the continuing issue hurting resale homes is the lack of inventory. Though we have fewer distressed homes, we also have, especially in lower price ranges, a shortage of inventory.
Multiple offers are back!! The shortage of inventory is causing buyers to need to out compete another buyer for a home.
We will begin to beat the numbers on the sales side when the inventory strengthens.
If you are in Hampton Roads, call me or reply to this post as you can sell your home if it is time to move!