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  • November 20, 2007 at 11:59 AM #10958
    jumbo
    Participant

    I’m not seeing any discussion about the impact of falling interest rates. Jumbo 5 ARMs are out there at 5.85% or better. With 20% down and good credit, financing is not an issue.

    Am I crazy to be considering making offers below the low end of asking in Carmel Valley in the $900-1.1M market or should I keep renting at $3500 a month?

    November 20, 2007 at 12:11 PM #101782
    Bugs
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments. That’s not even close to your rent and it doesn’t include your other costs of ownership. Wait till those prices drop to $700k or so, then you’ll have a choice to make.

    November 20, 2007 at 12:11 PM #101927
    Bugs
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments. That’s not even close to your rent and it doesn’t include your other costs of ownership. Wait till those prices drop to $700k or so, then you’ll have a choice to make.

    November 20, 2007 at 12:11 PM #101899
    Bugs
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments. That’s not even close to your rent and it doesn’t include your other costs of ownership. Wait till those prices drop to $700k or so, then you’ll have a choice to make.

    November 20, 2007 at 12:11 PM #101879
    Bugs
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments. That’s not even close to your rent and it doesn’t include your other costs of ownership. Wait till those prices drop to $700k or so, then you’ll have a choice to make.

    November 20, 2007 at 12:11 PM #101869
    Bugs
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments. That’s not even close to your rent and it doesn’t include your other costs of ownership. Wait till those prices drop to $700k or so, then you’ll have a choice to make.

    November 20, 2007 at 12:17 PM #101903
    waiting for bottom
    Participant

    I’m with you but Bugs is correct, you should wait until at least spring to see what happens.

    I am waiting to buy in the Mariner’s Point section of Carlsbad. There are 5 houses for sale in the 850K range. I am new to the area, renting for $2800 in SEH, sitting on six-figure cash and waiting for a bottom.

    Am I crazy to plan on buying in the spring or summer? If I could get 650-700K in my target area, I think I would…someone please set me straight.

    November 20, 2007 at 12:17 PM #101872
    waiting for bottom
    Participant

    I’m with you but Bugs is correct, you should wait until at least spring to see what happens.

    I am waiting to buy in the Mariner’s Point section of Carlsbad. There are 5 houses for sale in the 850K range. I am new to the area, renting for $2800 in SEH, sitting on six-figure cash and waiting for a bottom.

    Am I crazy to plan on buying in the spring or summer? If I could get 650-700K in my target area, I think I would…someone please set me straight.

    November 20, 2007 at 12:17 PM #101787
    waiting for bottom
    Participant

    I’m with you but Bugs is correct, you should wait until at least spring to see what happens.

    I am waiting to buy in the Mariner’s Point section of Carlsbad. There are 5 houses for sale in the 850K range. I am new to the area, renting for $2800 in SEH, sitting on six-figure cash and waiting for a bottom.

    Am I crazy to plan on buying in the spring or summer? If I could get 650-700K in my target area, I think I would…someone please set me straight.

    November 20, 2007 at 12:17 PM #101884
    waiting for bottom
    Participant

    I’m with you but Bugs is correct, you should wait until at least spring to see what happens.

    I am waiting to buy in the Mariner’s Point section of Carlsbad. There are 5 houses for sale in the 850K range. I am new to the area, renting for $2800 in SEH, sitting on six-figure cash and waiting for a bottom.

    Am I crazy to plan on buying in the spring or summer? If I could get 650-700K in my target area, I think I would…someone please set me straight.

    November 20, 2007 at 12:17 PM #101933
    waiting for bottom
    Participant

    I’m with you but Bugs is correct, you should wait until at least spring to see what happens.

    I am waiting to buy in the Mariner’s Point section of Carlsbad. There are 5 houses for sale in the 850K range. I am new to the area, renting for $2800 in SEH, sitting on six-figure cash and waiting for a bottom.

    Am I crazy to plan on buying in the spring or summer? If I could get 650-700K in my target area, I think I would…someone please set me straight.

    November 20, 2007 at 12:30 PM #101914
    kev374
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments.

    don’t forget opportunity costs on that hefty down as well

    November 20, 2007 at 12:30 PM #101797
    kev374
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments.

    don’t forget opportunity costs on that hefty down as well

    November 20, 2007 at 12:30 PM #101894
    kev374
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments.

    don’t forget opportunity costs on that hefty down as well

    November 20, 2007 at 12:30 PM #101942
    kev374
    Participant

    A $900k purchase w/ 20% down is still going to run you over $5,000 in PITI payments.

    don’t forget opportunity costs on that hefty down as well

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