4% 30 Year Mortgage

[sdrealtor]

A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!!

[XBoxBoy]

[quote=sdrealtor]A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!![/quote]

I realize you’re just poking fun, but wouldn’t most buyers of $7mil properties be paying cash? How often are loans even involved in 4mil+ purchases?

[sdrealtor]

[quote=XBoxBoy][quote=sdrealtor]A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!![/quote]

I realize you’re just poking fun, but wouldn’t most buyers of $7mil properties be paying cash? How often are loans even involved in 4mil+ purchases?[/quote]

Of course they are. lol

Only exception I can think of is sometimes the big brokerages make big loans to clients based upon pledged assets

[sdrealtor]

[quote=deadzone][quote=sdrealtor] real estate is for pros[/quote]

Hah, funniest thing I’ve heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.

And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.

Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.[/quote]

You mean like this condo closing today at 3.875?

And if you don’t think it’s real how about a bet? I’ll put up the deed to my house and you put up say $1000? I’ll be happy to take your $$$

I don’t care, it’s just fun teasing you

And I know tons of people who are benefitting that are far from the wealthy class. It’s doomer permabears like you cheering for a crash that are among the suffering

And yes if you look on the mass media sites you see higher rates but people that actually buy know where to look at actual lenders. Go to aimloan.com

Local lender. You can get the posted rate right now. Give ‘em a call. Operators are standing by!! Gooal!!!

[The-Shoveler]

[quote=Coronita]https://www.youtube.com/watch?v=BH5-rSxilxo[/quote]

LOL I love that commercial, but that said I would not touch crypto or nft’s with a 10 foot pole.

IMO one day most everyone will wake up and say,

“this is just a bunch of numbers in a computer with nothing to back it up”

Same for digital RE IMHO.

[Coronita]

[quote=The-Shoveler][quote=Coronita]https://www.youtube.com/watch?v=BH5-rSxilxo[/quote]

LOL I love that commercial, but that said I would not touch crypto or nft’s with a 10 foot pole.

IMO one day most everyone will wake up and say,

“this is just a bunch of numbers in a computer with nothing to back it up”

Same for digital RE IMHO.[/quote]

I agree.

[gzz]

Zuckerberg had a mortgage on his $10 million house in Palo Alto, which represents less than 0.02% of his net worth.

[limkotir]

The Buy, Borrow and Die wealth planning strategy?:

[Coronita]

[quote=limkotir]The Buy, Borrow and Die wealth planning strategy?:
https://www.youtube.com/watch?v=8pBPZMUcsh0%5B/quote%5D

Uh. Anyone can do this actually. Anyone with a home, even a primary home, can always borrow against the equity. It’s what people do with it that matters.

Lot’s of people in this country borrow against their equity and burn through it on worthless things.

[scaredyclassic]

Anyone else planning to dispose of all assets while alive, run up huge personal lines of credit at end of life and then die?

Is this commonly done?

[sdrealtor]

Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!!

[scaredyclassic]

[quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.

[sdrealtor]

[quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death

[gzz]

“ run up huge personal lines of credit at end of life and then die?
Is this commonly done?”

Not too often. The elderly aren’t big on extravagant living.

That’s why our aging society will tend toward deflation and low to negative rates: higher desired savings than creditworthy borrowers.

[scaredyclassic]

[quote=gzz]“ run up huge personal lines of credit at end of life and then die?
Is this commonly done?”

Not too often. The elderly aren’t big on extravagant living.

That’s why our aging society will tend toward deflation and low to negative rates: higher desired savings than creditworthy borrowers.[/quote]

Top of the line sr homes, hospice, high grade drugs…all on credit!!! Then fight the eviction when u stop paying…go big old man…

[Author]

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