Craigslist is a great place to get rid of an old microwave. But how does it fare as a source of good real estate deals? The Observer presents a smattering of Craigslist Lies People Tell: The Upper East Side Is Hip and This Studios Is $100. You might be shocked to learn this, but Craigslist sellers can sometimes come across as slightly less than reputable:

In the week ending July 3, mortgage rates rose 10.9%, more than making up for the feeble previous week. More details (and more encouraging figures) here: Mortgage applications rebound.

Demand for mortgages to buy homes and refinance loans bounced from seven-month lows last week, with average 30-year borrowing rates unchanged, the Mortgage Bankers Association said on Wednesday. The industry group's total loan applications index rose a seasonally adjusted 10.9% to 493.1 in the week ended July 3, after slumping the prior week to the lowest level since November.

Well, why not start off with just plain all-around good news. According to Bloomberg:

Consumer spending in the U.S. probably rose in May for the first time in three months and home sales increased as Americans became more confident the recession will end this year.

So that's the feeling in the air across the country. What about our part of the world? Yep, it gets better. In fact, CNBC says Northeastern U.S. home sales rose almost 4 percent in May. Huge!

If you're on the prowl for a new apartment in Manhattan, it's ok to be excited. There are tons of good deals out here! But some NYC apartment buyers are so excited about this buyer's market that they're overlooking some things. Pretty important things. Like, oh, how much the whole place is gonna cost. No matter how fantastic a deal is, there are still plenty of small costs that you just have to factor in. So when we hear of new homeowners getting a case of sticker shock, it can be a good lesson for all of us: be prepared. I'll tell you one thing...

Interesting article in the Times this morning, about several Manhattan co-ops and condos that have recently sold... at total bargain prices. We've been saying it all along, but it's becoming more obvious by the week: right now, NYC real estate is a buyer's market if there ever was one. And since it's springtime, sellers are more eager than ever to move units. Hey, we're just trying to help you find a good deal. Check for apartments in the neighborhoods mentioned in the Times post, Central Park West and Chelsea. Source: Sold for Don't Ask What