A Piece of the Pie: Statistics show that Oakland's FHA buyers are having big problems compe... - 0 views
-
After a summer of writing FHA offers with no success and talking to other Realtors who are having the same problems with their FHA clients, I decided to run some statistics to find out how FHA buyers fared generally in Oakland. The statistics confirmed what we all suspected, sellers, especially in the lower price ranges, are overwhelmingly preferring cash and conventional (loan) buyers even though there are many buyers with FHA in those price ranges
-
What these numbers show is that low to medium income first time buyers have not, to the same extent as investors and higher income buyers. FHA
-
This seller preference is furthering the negative affects of the housing crisis. One positive possible outcome of the devastation of so many families losing their homes is that the low prices could enable many individuals and families who could not otherwise afford to safely purchase a home to achieve their dream of owning a home with a manageable mortgage payment. The fact that so many neighborhoods are losing owner occupants to investors and renters is a shame since so many buyers who would live in those houses are trying to buy them.
-
Ooooh, sounds like something we could highlight and dig into further:
"After a summer of writing FHA offers with no success and talking to other Realtors who are having the same problems with their FHA clients, I decided to run some statistics to find out how FHA buyers fared generally in Oakland. The statistics confirmed what we all suspected, sellers, especially in the lower price ranges, are overwhelmingly preferring cash and conventional (loan) buyers even though there are many buyers with FHA in those price ranges."

