The news is the same everywhere in all major and many minor RE markets. The laughable nature of the "lawmakers" conversations about the GSEs gets more absurd every day.
My relatively new gated neighborhood in s fl was soft 1 yr ago with short sales and foreclosures skewing the comps about $100k lower than most people had purchased. Now houses are not lasting on MLS a week before going to contract.
In the last month: I sold my house at asking price, my brother in law sold his at asking price with 2 back up offers, his sister sold her $1.8m home after only 3 days on MLS and for full price and had 2 back up offers.
In our collective home buying searches it is hard to get in to see anything good because houses are getting swept up fast.
Here's another clue, private sellers are getting ask and above and the banks that have been sitting on REO for 5 years are holding out as they are getting offers on foreclosure listings at way above bank listed price. There are bidding wars on foreclosures that are tear downs!!! Cash buyers are abound.
These assclowns in Washington are hell bent on destruction because of their hubris and greed. They are not equipped to be making these decisions. Obama's administration has a collective 8% experience at working at private sector jobs. 8%!! These guys have worked on the public dime their entire careers with no regard for what it means to run a successful business and yet they are making economic policy decisions for everyone else!! This is like giving your 5 year old your check book and expecting them to keep the household running.
And the real problem is that despite the fact that I, We, You, gave congress a lower than 15% approval rating by the time 2014 mid term elections cone around most of you will perform a ballot booth panic attack and re-elect the same incompetent scumbags back into office, yet you will expect them to be "different" this time!!
Good GD grief!
$FNMA
