In spite of the current trend of increasing underwriter scrutiny there exists an excellent opportunity for buyers and investors of residential real estate.
The recent tightening of the lending market is felt not only in the rise in interest rates but also in the increased requirements placed on borrowers. While some would view this as adding further obstacles to the purchasing process, what must also be considered is that this is creating a cleansing effect on the market.
Greater inventory as well as a correction in the true market value of residential real estate has created a fortuitous climate for the savvy investor. The point to remember is that all markets will ebb and flow and while the rules change so too will the resultant opportunities for those in a position to capitalize.
It is a Buyer's Market.