Speaker 1: It is time for your true real estate nine to
Speaker 1: one to one MIDWEK update with your local real estate
Speaker 1: pro Lisa True Lisa. We know that we're into a
Speaker 1: buyer's market, most especially in the condo market, so that
Speaker 1: presents opportunities for buyers some real challenges for sellers. What
Speaker 1: should everybody in that conversation be doing?
Speaker 2: Yes, Brian, I've been sharing that we've been in a
Speaker 2: strong buyer's market in condos, with an average of ten
Speaker 2: months supply of condos, and in some condo buildings it's
Speaker 2: as high as sixteen to twenty month supply. Now, the
Speaker 2: reason behind that, we've mentioned insurance, but it's even bigger
Speaker 2: than that in some buildings. Some buildings have actually made
Speaker 2: their way into the Fanny May Do Not Lend list.
Speaker 2: Now that sounds terrible, however, the reason behind it is
Speaker 2: most of the buildings that are on that list have
Speaker 2: an insurance deductible higher than Fannie May is comfortable with.
Speaker 2: It might and probably will be a temporary issue for
Speaker 2: the next maybe couple of years, until this all gets
Speaker 2: maybe softened a little bit with the insurance issue. Now,
Speaker 2: it's not all lost for buyers. This is actually great news.
Speaker 2: They can still get a loan a non conforming loan.
Speaker 2: It's about a half a point higher.
Speaker 3: So it's not devastating. However, sellers, because of the market
Speaker 3: most sellers, if they're smart, are willing to pay to
Speaker 3: buy down that rate.
Speaker 1: This just shows why it's so important to have the
Speaker 1: expertise of the True Group working for you. These situations
Speaker 1: can be complex. The truths they understand it, so you
Speaker 1: don't have to worry about knowing what to do. Get
Speaker 1: in touch with the truths today call five to six
Speaker 1: to one nine seven, two eighty three, twenty six, visit
Speaker 1: True real Estate nine to one one dot com, or
Speaker 1: just google True Group that's tru Group.