Sliding home prices have made homes more affordable in some areas, though tighter lender requirements and bigger down payments have locked some buyers out of the market. Real estate agents and brokers say they have seen some unconventional loan types, such as those higher-risk loans that have been blamed for bringing down the subprime and credit markets, largely vanish from the market while government loan products are becoming more prominent. Stricter lending is definitely taking its toll on the market, prompting the National Association of Realtors' president to lash out this week at the current state of private lending practices. "It appears there is some overreaction on the part of some lenders now in requiring higher down-payment percentages than may be necessary," said Richard F. Gaylord, the group's 2008 president and a RE/MAX broker in Long Beach, Calif., in a statement this week. Gaylord said there is some relief for buyers in the form of "more lenien...
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