- This topic has 65 replies, 7 voices, and was last updated 14 years, 6 months ago by sdrealtor.
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July 8, 2010 at 5:05 PM #577369July 8, 2010 at 6:18 PM #576972sdrealtorParticipant
Did it occur to you that many of the resets that have been happening have lowered people’s interest rates. My best friend had his 5/1 ALT A ARM reset about 6 months ago and the rate dropped about 1.5%. His monthly payment which was already very affordable for him dropped hundreds of dollars a month. He was so excited he went out and bought a new BMW after it reset. The funny thing is his lease expired on his old one and he got a nicer/new one which he bought instead of leasing again because his payment was less than his old lease with minimal money down. These are easy credit days for folks with assets and income.
July 8, 2010 at 6:18 PM #577078sdrealtorParticipantDid it occur to you that many of the resets that have been happening have lowered people’s interest rates. My best friend had his 5/1 ALT A ARM reset about 6 months ago and the rate dropped about 1.5%. His monthly payment which was already very affordable for him dropped hundreds of dollars a month. He was so excited he went out and bought a new BMW after it reset. The funny thing is his lease expired on his old one and he got a nicer/new one which he bought instead of leasing again because his payment was less than his old lease with minimal money down. These are easy credit days for folks with assets and income.
July 8, 2010 at 6:18 PM #577379sdrealtorParticipantDid it occur to you that many of the resets that have been happening have lowered people’s interest rates. My best friend had his 5/1 ALT A ARM reset about 6 months ago and the rate dropped about 1.5%. His monthly payment which was already very affordable for him dropped hundreds of dollars a month. He was so excited he went out and bought a new BMW after it reset. The funny thing is his lease expired on his old one and he got a nicer/new one which he bought instead of leasing again because his payment was less than his old lease with minimal money down. These are easy credit days for folks with assets and income.
July 8, 2010 at 6:18 PM #576448sdrealtorParticipantDid it occur to you that many of the resets that have been happening have lowered people’s interest rates. My best friend had his 5/1 ALT A ARM reset about 6 months ago and the rate dropped about 1.5%. His monthly payment which was already very affordable for him dropped hundreds of dollars a month. He was so excited he went out and bought a new BMW after it reset. The funny thing is his lease expired on his old one and he got a nicer/new one which he bought instead of leasing again because his payment was less than his old lease with minimal money down. These are easy credit days for folks with assets and income.
July 8, 2010 at 6:18 PM #576351sdrealtorParticipantDid it occur to you that many of the resets that have been happening have lowered people’s interest rates. My best friend had his 5/1 ALT A ARM reset about 6 months ago and the rate dropped about 1.5%. His monthly payment which was already very affordable for him dropped hundreds of dollars a month. He was so excited he went out and bought a new BMW after it reset. The funny thing is his lease expired on his old one and he got a nicer/new one which he bought instead of leasing again because his payment was less than his old lease with minimal money down. These are easy credit days for folks with assets and income.
July 8, 2010 at 7:38 PM #576356sdrealtorParticipantTime to bring data:
SDL is very suspect in terms of accuracy. I prefer to go to the source. Here is to the minute stats from the MLS
Active 11585 (of which about 3000 are over 800K)
Contingents (short sales or REO’s with at least one and likely a few offers) 4255
Pendings 5106
Sales – about 2900 per month (averaged over the last 90 days)
Under 800K there are more contingent/pendings than actives. Dividing actives by monthly sales its less than a 3 month supply. So if you are looking in the higher prices you have some power. If you are looking below that, it is a very balanced market.
More supply coming via shadow inventory…I say bring it on!
July 8, 2010 at 7:38 PM #576453sdrealtorParticipantTime to bring data:
SDL is very suspect in terms of accuracy. I prefer to go to the source. Here is to the minute stats from the MLS
Active 11585 (of which about 3000 are over 800K)
Contingents (short sales or REO’s with at least one and likely a few offers) 4255
Pendings 5106
Sales – about 2900 per month (averaged over the last 90 days)
Under 800K there are more contingent/pendings than actives. Dividing actives by monthly sales its less than a 3 month supply. So if you are looking in the higher prices you have some power. If you are looking below that, it is a very balanced market.
More supply coming via shadow inventory…I say bring it on!
July 8, 2010 at 7:38 PM #576977sdrealtorParticipantTime to bring data:
SDL is very suspect in terms of accuracy. I prefer to go to the source. Here is to the minute stats from the MLS
Active 11585 (of which about 3000 are over 800K)
Contingents (short sales or REO’s with at least one and likely a few offers) 4255
Pendings 5106
Sales – about 2900 per month (averaged over the last 90 days)
Under 800K there are more contingent/pendings than actives. Dividing actives by monthly sales its less than a 3 month supply. So if you are looking in the higher prices you have some power. If you are looking below that, it is a very balanced market.
More supply coming via shadow inventory…I say bring it on!
July 8, 2010 at 7:38 PM #577083sdrealtorParticipantTime to bring data:
SDL is very suspect in terms of accuracy. I prefer to go to the source. Here is to the minute stats from the MLS
Active 11585 (of which about 3000 are over 800K)
Contingents (short sales or REO’s with at least one and likely a few offers) 4255
Pendings 5106
Sales – about 2900 per month (averaged over the last 90 days)
Under 800K there are more contingent/pendings than actives. Dividing actives by monthly sales its less than a 3 month supply. So if you are looking in the higher prices you have some power. If you are looking below that, it is a very balanced market.
More supply coming via shadow inventory…I say bring it on!
July 8, 2010 at 7:38 PM #577384sdrealtorParticipantTime to bring data:
SDL is very suspect in terms of accuracy. I prefer to go to the source. Here is to the minute stats from the MLS
Active 11585 (of which about 3000 are over 800K)
Contingents (short sales or REO’s with at least one and likely a few offers) 4255
Pendings 5106
Sales – about 2900 per month (averaged over the last 90 days)
Under 800K there are more contingent/pendings than actives. Dividing actives by monthly sales its less than a 3 month supply. So if you are looking in the higher prices you have some power. If you are looking below that, it is a very balanced market.
More supply coming via shadow inventory…I say bring it on!
July 8, 2010 at 8:37 PM #576473jpinpbParticipantDo you have any stats on how many of those contingents/pendings go back on market? I’ve seene a few not appraise and get listed again.
July 8, 2010 at 8:37 PM #577404jpinpbParticipantDo you have any stats on how many of those contingents/pendings go back on market? I’ve seene a few not appraise and get listed again.
July 8, 2010 at 8:37 PM #576376jpinpbParticipantDo you have any stats on how many of those contingents/pendings go back on market? I’ve seene a few not appraise and get listed again.
July 8, 2010 at 8:37 PM #577103jpinpbParticipantDo you have any stats on how many of those contingents/pendings go back on market? I’ve seene a few not appraise and get listed again.
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