Amidst the uncertainty swirling around the general economy and local real estate market, some positives are being lost in the media noise.  I have had numerous people ask me lately whether buyers can even get a loan these days.  The answer is a resounding "Yes!".  While some banks were caught up in the subprime mortgage problem, many others such as Homestreet Bank chose to be more conservative in their lending and find themselves in a strong position in the current market.

 

Here are some positives for buyers to know:

1) FHA loans are more prominent these days and available to buyers with good credit and some down payment.

2) Even with the recent volatility in loan interest rates, they are still near historic loans from a long-term perspective.

3) Current market inventory is high and there is a ripe buyer's market in play.  There are some truly good deals out there that many of us haven't seen in years.

 

With the current media frenzy of bad news, it is important to keep some of these "silver lining" notes in mind.