[JEaton]

The housing market is anything but moribund where I live. Homes under $300k are said to be selling in a matter of hours. Average time on the market is down 20% over the same period a year ago, there's a 40% increase in the number of listings, and the average selling price is up 14%.

[macrojack]

The housing market is anything but moribund where I live. Homes under $300k are said to be selling in a matter of hours. Average time on the market is down 20% over the same period a year ago, there's a 40% increase in the number of listings, and the average selling price is up 14%.

Where is this place of which you speak?

[JEaton]

Northern Colorado.

[johzel]

The housing market is anything but moribund where I live. Homes under $300k are said to be selling in a matter of hours. Average time on the market is down 20% over the same period a year ago, there's a 40% increase in the number of listings, and the average selling price is up 14%.

Same here in Madison, Wisconsin.  My wife and I are currently building a new house - walls just going up.  The loan process (both construction and final mortgage) was no hassle at all.  From what I understand new house starts here are the best in years and the general market has taken off.  Lots of enthusiasm in this neck of the woods  . . . 

[putz]

I refied with BOA earlier this year. They were already holding the mortgage for 9 years. No late payments, high credit score. LTV was around 25%.

They still made me pay to get an Appraisal. Each week they decided they needed something else from us. They never answered the phone or replied to emails. Took over 3 months to close.

Thought it would be easier going thru my existing lender to refinance. Go figure.

They even screwed up the closing and we had to sign more docs afterwards. Was tempted to not send the forms back.

Got a survey from them recently. Enjoyed filling that out.

At least we're down to 2.75%

[sts9fan]

The housing market here outside Boston is cranking.
I have an accepted offer on my place for 30% over what I bought it for 5 years ago.
Plus the accepted offer was over asking. I have had zero trouble getting a mortgage and I do need the proceeds from my sale. Houses in my town in the $700k range are going for 20-50k over asking. Gotta love low inventory!

[neekomax]

The housing market here outside Boston is cranking.
I have an accepted offer on my place for 30% over what I bought it for 5 years ago.
Plus the accepted offer was over asking. I have had zero trouble getting a mortgage and I do need the proceeds from my sale. Houses in my town in the $700k range are going for 20-50k over asking. Gotta love low inventory!

Good for you, mate.

Market here is very strong as well (Hamptons).

[AJinFLA]

Ditto for Tampa and FL in general. One of my neighbors listed a couple weeks ago. It sold in 3 days, full price.
Luckily to a person who plans to live there, as there are investor groups with $0.5 billion deep pockets swooping in and buying cash, which is tough for the average buyer/family to compete with. Here we go again...

[JEaton]

Housing Bubble 2.0, some are already calling it. Investors are starting to flip homes again in many markets.

[Diamond Dog]

Welcome to the bubble-based economy.

D.D.

[Bizarroterl]

They're flipping them here and selling price is near or at the last peak.  (San Jose, CA).  Currently limited to some areas but that will expand.  Homes here aren't on the market for more than a couple weeks.  There are 2 flips within 2 blocks of where I live.

[geowak]

They're flipping them here and selling price is near or at the last peak.  (San Jose, CA).  Currently limited to some areas but that will expand.  Homes here aren't on the market for more than a couple weeks.  There are 2 flips within 2 blocks of where I live.

I have seen my share of flipped houses. Most are pure junk. The one I remember most had many kitchen cabinets. When I pointed out two smaller places where the contractor did not fill in veneer, just bare wood, he laughed. Also the new bathroom door off the bedroom, was a bi-fold door. Much like the kind of door one would seen to a closet.

Many flipped house are just for quick profit..... get in, get out, make money. IMHO

[WGH]

Tucson turned into a sellers market about 10 months ago. To buy a home in a nice neighborhood you have to be fast plus be pre-approved or have cash. Regarding the house I bought, there were already 5 offers by noon on the same day it was listed. And this was for a house being sold "as is".

[Tyson]

This is what happens when the rich get richer and the rest of us don't.

[Phil A]

Over time in some markets, speculation was part of the problem in housing prices.  When it slows down someone gets left out in the game of musical chairs without  a seat.  Hopefully it will continue for a bit.  The housing market caused a slow down in new homes being constructed too.  So people who want to buy in some areas don't have the volume of choices at the moment that were there at one point years back.

[TheChairGuy]

Most of the biggest banks are the most horrible lenders I found. They treat you like they're doing you a favor instead of a mutually beneficial business transaction.

We bought mid-2012 (after patiently waiting 9.5 years for the right place at the right price).....both Wells Fargo and Union Bank were PITA's to work with.

Fortunately, a realtor friend suggested First Republic Bank and were they ever fantastic   They even accepted the Union Bank paperwork (where we were approved already) as there own reasoning its the same information all lenders ask for.  It was not a conforming loan, 20% minimum down, we have great FICO's....a slam dunk you'd think; but so many of these lenders treat you like poorly.

FRB is/was and continues to be great.  I have heard wonderful things about INGDirect.com and also Pentagon Federal Credit Union (you need not be military, Pentagon or government.....you just pay $15 to join an association that allows you to join PenFed).  They have fantastic rates on conforming and non-conforming loans....even 1.49% auto loans (new or used), too. 

Writing to you from our dream home - no thanks to Union or Wells Fargo Bank.