Western NC has been classified as a declining market by Fannie Mae and Freddie Mac. What does that mean to the typical buyer and how did this happen?
As markets change investors that purchase loans on the secondary markets mitigate risk by asking purchasers to put more money down. This designation does not mean that the sky is falling it does signal a true buyers market for a region that has rarely experienced that phonemon.
It does show that statistics coming out of our region for values on closed homes reflect the correction in values has arrived in Western NC.
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