From the October issue: It should come as no surprise that resale brokers are reporting an uptick in activity after a slow summer. But in this month’s issue, The Real Deal also reports on an uptick in sales in the new condo market, which has been notoriously sluggish for the last two years.
How can this be, in today’s still-difficult lending environment?
One answer, experts say, is that buyers are exhibiting a drastic shift in attitudes toward getting a mortgage. While lenders still require larger down payments and reams of paperwork, buyers, it seems, have come to expect lending complications and are no longer being scared away. [more]