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Thread: Mortgage applications at lowest level in two decades

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by ludin View Post
    i bought in 2010 i do believe. the market had already busted.
    Then I'm surprised it went down from there. 2010 was the best year to buy of all (based on NV - I don't really know about FL) so you're bound to come out OK on this.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by ludin View Post
    it depends on where you are at. I know in FL housing market still stinks.
    There is movement in FL. I just sold my house off the first showing. Value jumped nearly 10% over the last year, went from being upside down to actually making a little money. Problem right now in FL is that a good portion of the inventory is either bank owned (foreclosure) or short sales. Both of which take a lot more time to process the sale.

    Sales ranges are wacky right now. A lot of people are listing way above value to see if they can get cash offers. At least thats what I've noticed going through listings.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by Fishstyx View Post
    There is movement in FL. I just sold my house off the first showing. Value jumped nearly 10% over the last year, went from being upside down to actually making a little money. Problem right now in FL is that a good portion of the inventory is either bank owned (foreclosure) or short sales. Both of which take a lot more time to process the sale.

    Sales ranges are wacky right now. A lot of people are listing way above value to see if they can get cash offers. At least thats what I've noticed going through listings.
    yea that is the problem to many short sells and foreclosures going on. more foreclosures are coming only because the banks were fraudulently filing foreclosures.


    my thing is my home is a starter home for a younger couple. it is in a nice area due to the space center prices are depressed. values are slowly coming up but unless
    something big comes in here values are still going to be depressed. not to mention there are still all these fixer uppers that have flooded the market where they are wanting 40-50k cash.

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    Re: Mortgage applications at lowest level in two decades

    The crappy housing market is just a symptom of obama's weak or should I say non existent economic recovery.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by sawyerloggingon View Post
    The crappy housing market is just a symptom of obama's weak or should I say non existent economic recovery.
    Wait, I thought it was Democrats' fault for allowing anybody to get a mortgage. Now it's Democrats' fault that mortgage applications are low. Make up your mind.


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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by rocket88 View Post
    Wait, I thought it was Democrats' fault for allowing anybody to get a mortgage. Now it's Democrats' fault that mortgage applications are low. Make up your mind.
    It is both. First they caused the economy to collapse by demanding banks give sub prime loans and now that the economy is in the toilet their policies to get it going again are a dismal failure.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by specklebang View Post
    Then I'm surprised it went down from there. 2010 was the best year to buy of all (based on NV - I don't really know about FL) so you're bound to come out OK on this.
    Vegas isn't exactly a good litmus test since their numbers are horribly skewed from the "flipping" phenomenon and the foreclosure/liquidation bonanza that happened en masse during recent years.

    You can only fall down so far before you just have to come up.

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    Re: Mortgage applications at lowest level in two decades

    Lenders are requiring the borrower's first born and homes must be emaculate in order to get a loan these days. Not like days of old when home inspections were drive-bys and homes were sold with all kinds of flaws. The housing bubble collapse has made every gun-shy, and so things are unpredictable.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by ludin View Post
    yea that is the problem to many short sells and foreclosures going on. more foreclosures are coming only because the banks were fraudulently filing foreclosures.


    my thing is my home is a starter home for a younger couple. it is in a nice area due to the space center prices are depressed. values are slowly coming up but unless
    something big comes in here values are still going to be depressed. not to mention there are still all these fixer uppers that have flooded the market where they are wanting 40-50k cash.

    Yeah, FL has definitely been undervalued for awhile. Took me 6 years to get my property right side up. Right now isn't a bad time to buy down there. There are a ton of real good deals.

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    Re: Mortgage applications at lowest level in two decades

    Quote Originally Posted by Gipper View Post
    Vegas isn't exactly a good litmus test since their numbers are horribly skewed from the "flipping" phenomenon and the foreclosure/liquidation bonanza that happened en masse during recent years.

    You can only fall down so far before you just have to come up.
    Yes. That is why I always put my "this is NV" disclaimer in any post where I use anecdotal information. I agree that NV numbers are more extreme, but they still follow the overall pattern of the bubble event, just a little more so. However, FL was the other state that most resembled NV.

    What about wherever you live? What did you experience between 2000 through 2013? Was your peak in 2005? Was your bottom 2009? I heard the East didn't have any big moves and that prices (in the cities) are well above 2005. You have to live somewhere to understand the fluctuations of your area.

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