Is The Shift to a Buyer’s Market Underway?
Seasoned veteran lender Toby Potter, the CEO of Dallas-based private lender Global Integrity Finance, sees the transformation coming inside six months.
Amid a topsy-turvy residential sector, add this upcoming shift – the sector’s transformation from a seller’s market to a buyer’s market some six months from now.
At least that’s the assessment of seasoned veteran Toby Potter, the CEO of Dallas-based private lender Global Integrity Finance. He spoke to Mortgage Professional America about the current state of the market along with his projections for the future.
“Over the last five years, it’s been a seller’s market,” he said during a telephone interview. “People have been able to sell their home at top dollar, usually 20%, 25% above asking price because it’ a bidding war. And mainly It’s a bidding war because people could borrow money to buy a house at 2%, 3%.”
