Posted by mwm143 on 4/15/10 4:26pm
Msg #331894

Half way thru April...I'm not seeing the surge promised

LO's and TC's in my area were all expecting a big surge for April. So far I'm not seeing it. I understand that WF has a lot of loans in their pipelines that are not getting approved for one reason or another. Good ole Matt Lauer interviewed a woman this morning who does promise that the rates will go up soon and go up fast. I sure hope banks aren't stalling banking that will happen.

How's the rest of the country?

Reply by Notarysigner on 4/15/10 4:48pm
Msg #331897

Surge like melting syrup here although it is better than last month.

Reply by BNotary on 4/15/10 4:49pm
Msg #331898

Here in PA April has been great for me. I have done 20 WF closings since April 1st.

Reply by LisaWI on 4/15/10 4:51pm
Msg #331900

Sadly, this month has been really slow for me. Kind of scary actually. Hoping something materializes shortly. And last month wasnt the best either. I should clarify, I am picky on who I work for and my main source of work is from Title Companies. I do have one company who was calling me on a regular basis and then boom, nothing for 2 weeks.

Reply by MikeC/NY on 4/15/10 5:35pm
Msg #331908

Depends on who you ask...

"Good ole Matt Lauer interviewed a woman this morning who does promise that the rates will go up soon and go up fast. I sure hope banks aren't stalling banking that will happen. "

I have also seen predictions that rates will stay low throughout the rest of the year at least, and in fact we haven't seen the predicted spike since the Fed stopped buying mortgage backed securities. Even if the rates start to drift up, they will still be relatively low by historical standards. Besides, if anyone know for sure what was going to happen, they wouldn't be on TV talking about it - they'd be in Vegas making some real money.

And as far as interviews are concerned - good news doesn't get ratings, so they always look for the harbingers of doom...

Reply by Charles_Ca on 4/15/10 6:00pm
Msg #331915

Re: Depends on who you ask...Mike, here in SoCal

we are starting to see multiple offers on the low end properties, My daughter just put in an offer on an REO condo which I thought was a good solid offer and there were 5 other offers submitted simultaneously. The bank says they will accept the best one!

Reply by MikeC/NY on 4/16/10 1:34am
Msg #331947

Re: Depends on who you ask...Mike, here in SoCal

I'm working with a client right now who is looking at REO and short sales - we're finding that most of them are getting multiple offers, and in some cases the offers are well above asking price. No one is stealing houses...

Reply by Tess on 4/15/10 6:09pm
Msg #331917

Re:It was Suze Orman n/m

Reply by Carol Graff on 4/15/10 9:53pm
Msg #331937

very slow here in Palm Desert, Ca. Most of the snowbirds have gone home.

Reply by BossLadyMD on 4/15/10 10:19pm
Msg #331939

jan & feb horrible, mar improvement, april the best for me!

I'm having to refer work out I'm getting so busy. I have 8 last week - a record for me in this economy! Doing nothing but RF since the threat of higher interest rates. Hope things improve for you soon.

Reply by JoannVA on 4/15/10 11:15pm
Msg #331942

Lots of calls this week - but from low fee companies

Seeing alot of requests this week on BOA (refinancing their own loans again - saw 5 this week at various tables - poor borrowers have been waiting months for them to refi ),

But had over 15 requests for today - wish I could of picked up more of them. I got tied up with purchases instead (which was booked earlier this week).

I was beginning to think my cell phone was not working.

Reply by mwm143 on 4/16/10 8:32am
Msg #331960

Over 15 calls for today?? n/m

Reply by JoannVA on 4/16/10 9:47am
Msg #331966

Yes - that is crazy ! n/m

Reply by JoannVA on 4/16/10 11:04am
Msg #331982

this week.

All I've see this week are purchases (4 were cash) and Bank of America Refi.

Reply by MW/VA on 4/16/10 10:12am
Msg #331974

No surge here. Things are pretty slow. If it weren't for

the streamline FHA or VA signings, there would be nothing going on.

Reply by CopperheadVA on 4/16/10 10:59am
Msg #331981

No surge here either...

It's been busier than last month, though. I'm seeing a lot of VA streamlines as well.

Reply by PJM/MI on 4/16/10 4:16pm
Msg #332027

Started out pretty good, and now it's fizzling. Hope EOM is good!