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Old 01-13-2017, 08:27 PM
 
4,222 posts, read 3,763,835 times
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Quote:
Originally Posted by Potential_Landlord View Post
It's also a factor that many more loans are getting approved now.Closing rate for conventional loans went from 60% to 67% y-o-y. That's a lot more net demand.
Perhaps people with forecloses and short sales during the last tumble are now eligible to by again?
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Old 01-13-2017, 11:03 PM
 
2,809 posts, read 3,195,050 times
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Quote:
Originally Posted by locolife View Post
Perhaps people with forecloses and short sales during the last tumble are now eligible to by again?
I think loan standards loosened.
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Old 01-14-2017, 04:32 AM
 
9,864 posts, read 11,260,954 times
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Quote:
Originally Posted by JenHolmesAZ View Post
That's awesome that you have that equity! We bought our home for $250K in April of 2015 and now it's worth $300k and I want to list it in a few weeks/months Hoping to change to a home with a 3 car garage and some yard my son can work in
If you bought your home in 2015 at market for $250K, I am sure it isn't worth $300K. Putting it another way, if yours went up 10% a year, they didn't freeze the values of the other homes (they too would go up by 10% a year). So you are not any farther ahead.
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Old 01-15-2017, 07:55 PM
 
Location: SoCal
14,530 posts, read 20,205,784 times
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^^^^

As MN BnB said, real estate fiction, your house didn't go up 10% in one year. And don't forget the 5-6% real estate commission plus selling costs.

My feel is that in many areas rate is up 6% per year but in other areas, not.
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