Nate Delesline writes a good piece in today’s Daily Progress about the uphill battle faced in the local real estate economy with respect to the lending environment.

Matt Hodges sums up current thinking:

“I’m bullish on the lending market and the real estate market locally,” said Hodges. “We believe that there’s even going to be a greater demand this year than last.”

“There was a pendulum swing where it was way too easy and then it was way too hard to get a mortgage,” said Hodges, who has worked in Charlottesville for 14 years. “Today, consumers still believe that’s it harder to get a loan than it actually is.”

From my perspective as a buyer’s representative – if you’re qualified, you can get a loan. Getting a loan is a far, far more tedious process than it used to be, but it’s absolutely doable. There are challenges that need to be navigated, including the application process, appraisals, underwriting … but these are all surmountable challenges, particularly if you as a buyer have surrounded yourself with the right team.

Remember: lenders don’t ask for things repeatedly because they are bored – they’re asking more questions because they have to. Unlike the previous market, lenders do have some risk if they make bad loans. And we all benefit from a reasonably more stringent lending world. I’m not saying it’s perfect (and never will be). The knee-jerk responses (see: HVCC) by an ignorant, paid-for Congress are extreme, but I feel that we’re on a path to balance. Hopefully.Disclosure: Matt’s one of the Charlottesville lenders I recommend to my clients.