Tom Lindmark

A Few Crumbs of Good Housing News - Housing Tracker

It's weak anecdotal evidence of a turnaround, but the FHA lenders in Phoenix are swamped. Loan packages are sitting for up to two weeks before even a first glance from underwriters. A lot might be refi's but there's certainly some purchase transactions in the pile as well. We have been bidding on foreclosures for our own account and are seeing a lot of competing bids. Many fall out as the bidder can't get financing but the demand is starting to show up.