DONALD TRUMP – RIGHT OR WRONG? L.D.R.E. SAYS BOTH!
On April 23rd, Donald Trump, chairman and president of the Trump Organization, went on CNBC and stated, “It’s one of the best times to buy real estate. It’s an amazing time to buy, this is the best time I’ve ever seen to buy both real estate and probably other things. This is one of the great opportunities.”
We agree, with prices falling in some cases over 20% in the past two years and with interest rates now at 4.625% down from 6.5% (Over 28% decline), home buyers and investors now can buy 40% more house today, than they could have in 2007! What is even more impressive is that the inventory of available homes to choose from has quadrupled from 3,000 homes in the Portland Metropolitan market to 12,000 available homes, giving buyers the ability to carefully shop and locate the ideal property and perhaps negotiate a substantial discount.
But Trump also said that banks are unwilling to lend money to their customers unless they are willing to consider purchasing foreclosed homes. “If you go to a bank and ask for a mortgage because you want to buy a [non-foreclosed] house they won’t give it to you,” he said. “The banks are not lending. Despite what they say, the banks are not lending.”
Wrong! Why Mr. Trump would make such a statement baffles us at Lee Davies Real Estate. Perhaps this is the case in his home states of New York and Florida, but it is far from the case here in Portland, Oregon, where Lee Davies Real Estate just celebrated a banner sales month in March. Our clients are easily obtaining incredible financing and we are closing transactions!
To see the CNBC news clip go to: http://www.cnbc.com/id/30367055/site/14081545