SoCalARM, I think you’re more sell side too. Don’t sneeze at $300K, remember, a big chunk of that will be down payment, it isn’t really gone, just locked up once you rebuy. And I truely do think we’re going back to the old days of needing 10%-20% to get a decent rate on a loan.

The biggy for me is you’re indicating this really isn’t a long range home for you. Not only not long range, but also that near term ARM riding through the down turn will adversely affect your business plans. That’s bad. Very bad. The first two points on my original post are actually no and no. And to top it off, the third is owning likely will be more stress than not.