When I first moved to the State of Florida, I was very surprised to find Realtors and Mortgage Brokers that were so busy and so successful that they would limit their businesses to loans, listings and buyers of over a certain dollar value. The reason it was so surprising was that the dollar amounts that were mentioned were enormous to me.
One listing agent I know would not work on listings under $650,000. One Mortgage Broker said "No first time homebuyers". I even knew of some agents that would not take anything but multimillion dollar listings or superstar, VIP buyers.
In this current market, changes are creating a new paradigm for Real Estate Agents and Mortgage Brokers everywhere. There are many who are just leaving the field. They are just absolutely sure that there is no way to survive this market downturn.
Read the rest of this piece at: Florida Mortgage | Real Estate Market Commentary