As a longtime Realtor here in Pierce County (36 years), I was really shocked by the provocative article, “Home sales worst in decades” (TNT, 9-27).
Although mostly factually accurate, when buyers read that article it will totally scare them away from even trying to buy a home. Buyers tend to believe what the paper says, when in reality there is plenty of funding available. FHA loans are 3.5 percent down, and VA loans can be zero down. Additionally, there are many different down payment assistance programs to help those buyers who qualify. There’s also the USDA program that is basically zero down.
This article states that most lenders require 20 percent down. That just isn’t true for owner-occupied buyers. The 20 percent is for investors in most cases.
Our market is difficult enough without the constant negative news feed in the paper and television. What about the recent CNN article that projected Tacoma to be the fastest-growing market in the U.S. in 2012? Why not mention that?
We truly need to see some positive news on our real estate market here in Pierce County. There are positive things happening locally. Real estate is local, and our market is better than most. The article you ran talked about the national market. Our market is much more stable, and your readers need to know that.