"The banks are dooming the area to not get any better than it is"

posted Nov 27, 2017 at 12:25 PM

Financing -- both access to it, and the price of it -- is one of key parts of real estate purchasing and development, even if doesn't get the same attention as stuff like sale price or design. And it's a prominent thread in this story by Amanda Fries, about a couple building a new home in Albany's South End -- they say they couldn't get a $100k loan for the project because of the location. [TU]

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They couldn't get a loan because the built house would be worth less than the loan amount. Would you make that loan?

... said Herbert on Nov 28, 2017 at 2:45 PM | link

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