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William Feela, Realtor, Whispering Pines Realty 651-674-5999 No.  (WHISPERING PINES REALTY)

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Rainmaker
1,578,754
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO
Big Block Realty 858.232.8722 - La Jolla, CA
Serving Coastal San Diego, Veteran's & Seniors

No, it's still a pain in the ass to get approved.

Jun 03, 2017 07:57 AM
Rainmaker
1,713,276
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

That was called The Bubble.

Jun 03, 2017 05:55 AM
Ambassador
2,231,956
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

In my experience lenders (and maybe agents) tend to push people to their limits (and beyond).  I once had a lender tell me I qualify for more and I told her that didn't mean I wanted to spend more.   I didn't want to be a slave to my mortgage... and never was.   Agents and lenders should NEVER encourage people beyond their comfort level, regardless of what they "qualify" for.

Jun 03, 2017 06:55 AM
Rainmaker
5,177,380
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't do either of those. The majority of my clients have for year been buying well below of what they are qualified for. I'm working with a couple right now who will spend about $250K, but are qualified for $400K. I don't know about what other agents do, but I had not one single issue with any clients who purchased homes with me during the market meltdown. Yes, their homes maybe didn't appreciate as much as they were expected to, but no one experienced a financial disaster.

Jun 03, 2017 06:07 AM
Rainmaker
4,629,820
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

"Trying?" --- I don't see that happening with me or in my market.   

Jun 03, 2017 06:00 AM
Ambassador
6,523,873
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I think that it is irresponsible to encourage people to be irresponsible.

Jun 03, 2017 01:41 PM
Rainmaker
862,657
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Not me! We talk about a house payment fitting into life as a whole and learn on the lender to fully educate buyers on the fiscal side of things.  I know that I had hardly a clue about taking care of a house when we purchased one... Everyone learns and grows. 

Jun 03, 2017 11:21 AM
Rainmaker
809,308
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

With prices back at peak peak levels I am concerned about this. -Kasey

Jun 03, 2017 07:16 AM
Rainmaker
2,401,016
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

The government does that cyclically and we know how that turns out - I don't do it in my business. 

Jun 03, 2017 07:12 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

My observation has been the practice of which you speak is directly linked to Bank of America's (and the other big banks) reallocation of HAFA funds towards first time buyer purposes.

This borders on fake money.

When fakery is involved the house of cards must eventually tumble down.

Fortunately, these funds are limited UNTIL those in DC do another back room deal.

Jun 03, 2017 06:38 AM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

William Feela Lenders should learn from their mistakes. they might not get bailed out a second time.

Jun 03, 2017 06:35 AM
Rainmaker
3,988,063
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I am not seeing a trend yet. It still seems like underwriting is tough and buyers have to go through the ringer and present their first child.

Jun 03, 2017 06:10 PM
Rainmaker
733,692
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

William Feela - I sure hope we are not putting people into homes they cannot afford. This would be Deja Vu again and another crash. In our market, buyers with loans still have to prove they can afford the property and sometimes are turned down on their loans.

Jun 03, 2017 11:36 AM
Rainmaker
1,857,807
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Yes & that is my job. I've done it for 30+ years & I'm going to keep going. There is no 'test' for homeownership. There are no 'trades' test like do you know the working end of a hammer?

It is what it is.

Jun 03, 2017 11:23 AM
Rainmaker
1,075,629
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oh yeah. We haven't learned from our mistakes, so we'll repeat them. Sell sell sell

Jun 03, 2017 09:12 AM
Rainmaker
5,583,563
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I think most real estate agents will take a shot at working with most borderline buyers.... I say leave it alone.... 

we are listing agents and not every homeowner should be selling.... I can remember convincing many to NOT list at the time....or to refinance to hang in there....

Jun 03, 2017 08:50 AM
Rainmaker
2,221,845
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Just like we did in 2003 - 2007 ????????

Jun 03, 2017 08:28 AM
Rainmaker
1,153,799
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Not if I can help it. I want those customers to come back again and again and again.

Jun 03, 2017 08:10 AM
Rainer
353,865
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

Don't you think it's all ebb & Flow?  I think it should be  left up to the consumer to decide what they can afford (within reason)

Jun 03, 2017 07:46 AM
Rainmaker
1,027,607
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

I am a strong believer in self reliance and accountability; I do not believe we have the power to force people to do anything they, themselves, do not really want to do, even if they know it is a bad decision.

Jun 03, 2017 07:40 AM
Rainmaker
5,914,798
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

They say the lending industry is easing the rules, but have not seen it yet.

Jun 06, 2017 06:46 AM
Rainmaker
1,737,427
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

You make an excellent point. The big problem however is lack of inventory so reducing restrictions may not even cause another bubble.

Jun 05, 2017 07:07 AM
Rainmaker
601,975
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I'm still on the fence about this one but I think we're headed towards a correction. The market can't stay this competitive for long.

Jun 05, 2017 06:56 AM
Rainmaker
1,518,823
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Unfortunately, we the people have not learned our mistakes.  "Fog a mirror" loans are gone, but their close cousin is here to stay.  Mortgage backed securities are gone, but their kissin' cousin the rental backed security is here to fill the void.  Same shit, different name.  Securities that rely on people paying a monthly payment, which in California, is higher than a mortgage would have been.

Jun 04, 2017 07:53 PM
Rainmaker
5,124,284
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I don't see that happening in my market..still tough to get a loan.

Jun 04, 2017 02:37 PM
Rainmaker
5,051,562
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I hope we do not have a problem down the road with lots of short sales the way prices keep going up.

 

Jun 04, 2017 09:38 AM
Rainmaker
4,800,182
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I hope not, though I don't think the criteria has eased that much.

Jun 04, 2017 05:20 AM
Ambassador
5,347,030
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Not this Realtor®!

Jun 03, 2017 10:42 PM
Rainmaker
4,320,722
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

William Feela if it is a stretch, I tell my buyers to buy something smaller. 

Jun 03, 2017 09:41 PM
Rainmaker
142,796
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

I'm experiencing that the lenders are exercising tight restrictions and are vetting buyers thoroughly. Buyers have to prove they can afford the property.

Jun 03, 2017 08:52 PM
Rainmaker
3,416,113
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

No, so far i have seen common sense adjustments, but lenders are still pretty tight from what i see. No one is being thrown money like 2005

Jun 03, 2017 05:42 PM
Rainmaker
997,257
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

That's what short sales and foreclosures are for - so many bought distressed properties then as the values began to come back to norms, are realizing that $400k house they bought for $90 has a new insurance and tax bill over $10k a year!!!!

Jun 03, 2017 12:26 PM
Rainmaker
7,977,674
Roy Kelley
Retired - Gaithersburg, MD

You are welcome to handle those prospects.

Jun 03, 2017 12:07 PM
Ambassador
2,687,855
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  The Big Banks, the Government, and people who get in over their heads are responsible.  Not me.

Jun 03, 2017 11:32 AM
Rainmaker
1,618,016
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

They are back

Jun 03, 2017 07:28 AM
Rainmaker
908,703
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Yes, the process is quite in motion.

Jun 03, 2017 07:27 AM
Ambassador
3,375,119
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

It is all part of the endless cycle of life and mortgage lending. 

Jun 03, 2017 07:19 AM
Rainmaker
5,773,797
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

William,

I agree with Corinne Guest, Managing Broker 

Jun 03, 2017 07:08 AM
Rainmaker
3,072,430
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

Joe Pryor nailed this one!

Jun 03, 2017 06:20 AM
Rainmaker
2,804,046
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Investing Real Estate is good for everyone...

Jun 03, 2017 06:02 AM