Having dinner with a close friend who works for one of the bigger national banks, I asked him the question,

“What does the smart person do who is looking to buy a house or a condo in this market….I mean, from a banking point of view, what should they be doing now while the market is waiting to adjust itself, how can they be sure that they will be able to get a mortgage when the time is right?”

His candid response took me by surprise because aforemementioned he works for one of the bigger banks, he said, “They need to nurture their relationships with their neighborhood banks. It’s the neighborhood banks who will start the rebound in available mortgages because they are more in tune with the actual markets where their branches are located. And more importantly, they already have been doing business with buyer and will likely feel more confident investing in getting a buyer bought.”

This seemed real interesting considering the source. It made me ponder if all the bailout money was for not – maybe the recovery will spring up from the grassroots.

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