Logan Martin Lake Topics: October Real Estate Sales Results

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	Name:	lucky67 -
	Subject:	October Real Estate Sales Results
	Date:	12/2/2010 10:04:52 PM

tough time to be a Lender & an appraiser; less sales= less comps for the appraiser which makes the Lender wonder what a property is really worth; but, we are much better off at LM than the Beach ! I have stopped lending there as it is too much hassle to get an appraisal; I have a friend who bought at Orange Beach in 2008-- condo for $725,000--now has it listed for $250,000 & no offers--I look at this & say--the market was way overinflated when he purchased; so to compare, some sellers at LM still have the 2006 -2007 mentality of what their property is worth; the houses I am financing that are under contract & selling are those priced right --just a Lenders perspective