My loan consultants continue to wait for banks to make the increase in the conforming rates to the new rates loan limits. They are expecting to see this mid March latest end of March for this change to be in affect. It is still debatable how fast banks are going to be able to move following this legislation.
There have been lots of activity as far as offers are concerned. My office has had a mad scramble suddenly of folks that have been placing offers on homes. I would say the economic stimulus is stimulating some activity here in the Bay Area. I also have an offer out on the Peninsula that we are working closely with the Seller to try to come to terms.
There was also an interesting article posted in Time Magazine explaining why it is a good time to purchase property:
http://isvr.net/usr/1006068013/CustomPages/Time_Magazine_February_25th_2008.pdf
For those of you that have thought of buying, it is time to really start moving on this before everyone else catches on!
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