How much further will the SD market go down.

[JWM in SD]

Rustico,

So let me get this straight, you are now advocating the use of high ltv loans as affordibility products again???? Is that not what got the market into the mess it is right now? Are you telling me that if I use one of those loans that a realtor won’t steer me to higher priced homes to take advantage of that? Because if that is what you are saying then we are right back at square one and you might as well set the calendar back to 2006 again and throw every fundamental issue established here on this site out the window because apparently you and the other two resident realtors have not learned a damn thing.

20% down was used as a standard in years past because the typical renter could not produce it and an investor could as well as service the 80% as debt. That was the difference between a renter and an owner when the fundamentals made sense “market wide”.

[sdrealtor]

SD R,
You, I and Rus understand the game and how its plays out. We see it every day. I personally have seen a few homes sell close to 20% below what I thought the market was for them. Opportunistic buyers will find great deals well before the bottom. There arent many but they do exist.

sdr

[sdrealtor]

SD R,
You, I and Rus understand the game and how its plays out. We see it every day. I personally have seen a few homes sell close to 20% below what I thought the market was for them. Opportunistic buyers will find great deals well before the bottom. There arent many but they do exist.

sdr

[sdrealtor]

SD R,
You, I and Rus understand the game and how its plays out. We see it every day. I personally have seen a few homes sell close to 20% below what I thought the market was for them. Opportunistic buyers will find great deals well before the bottom. There arent many but they do exist.

sdr

[sdrealtor]

SD R,
You, I and Rus understand the game and how its plays out. We see it every day. I personally have seen a few homes sell close to 20% below what I thought the market was for them. Opportunistic buyers will find great deals well before the bottom. There arent many but they do exist.

sdr

[sdrealtor]

SD R,
You, I and Rus understand the game and how its plays out. We see it every day. I personally have seen a few homes sell close to 20% below what I thought the market was for them. Opportunistic buyers will find great deals well before the bottom. There arent many but they do exist.

sdr

[NotCranky]

Thanks contraman, That was all I am saying. I was assuming full doc. is not tough for most piggs. I understand on over inflated assets qualifing in this envornment is tough and probably not a good idea for most with regards to expensive depreciating houses. Sorry if I offended anyone.
Have a great day.

[NotCranky]

Thanks contraman, That was all I am saying. I was assuming full doc. is not tough for most piggs. I understand on over inflated assets qualifing in this envornment is tough and probably not a good idea for most with regards to expensive depreciating houses. Sorry if I offended anyone.
Have a great day.

[NotCranky]

Thanks contraman, That was all I am saying. I was assuming full doc. is not tough for most piggs. I understand on over inflated assets qualifing in this envornment is tough and probably not a good idea for most with regards to expensive depreciating houses. Sorry if I offended anyone.
Have a great day.

[NotCranky]

Thanks contraman, That was all I am saying. I was assuming full doc. is not tough for most piggs. I understand on over inflated assets qualifing in this envornment is tough and probably not a good idea for most with regards to expensive depreciating houses. Sorry if I offended anyone.
Have a great day.

[NotCranky]

Thanks contraman, That was all I am saying. I was assuming full doc. is not tough for most piggs. I understand on over inflated assets qualifing in this envornment is tough and probably not a good idea for most with regards to expensive depreciating houses. Sorry if I offended anyone.
Have a great day.

[(former)FormerSanDiegan]

So let me get this straight, you are now advocating the use of high ltv loans as affordibility products again???? Is that not what got the market into the mess it is right now?

Actually, these products were available in the mid-90’s bottom as well. It was not unusual for first-time buyers to purchase with 5% down. It simply required full documentation, conservative debt ratios and payment of PMI. That’s what I did.

It was not high LTV products that caused the problem. It was the complete disregard to assessing risk and requiring documentation of income and assets.

I believe that for many first-time buyers, that sometime in the next 2, 3 or 4 years it will make perfect sense again for them to purchase with 5% down, assuming conservative DTI ratios and real jobs.

[(former)FormerSanDiegan]

So let me get this straight, you are now advocating the use of high ltv loans as affordibility products again???? Is that not what got the market into the mess it is right now?

Actually, these products were available in the mid-90’s bottom as well. It was not unusual for first-time buyers to purchase with 5% down. It simply required full documentation, conservative debt ratios and payment of PMI. That’s what I did.

It was not high LTV products that caused the problem. It was the complete disregard to assessing risk and requiring documentation of income and assets.

I believe that for many first-time buyers, that sometime in the next 2, 3 or 4 years it will make perfect sense again for them to purchase with 5% down, assuming conservative DTI ratios and real jobs.

[(former)FormerSanDiegan]

So let me get this straight, you are now advocating the use of high ltv loans as affordibility products again???? Is that not what got the market into the mess it is right now?

Actually, these products were available in the mid-90’s bottom as well. It was not unusual for first-time buyers to purchase with 5% down. It simply required full documentation, conservative debt ratios and payment of PMI. That’s what I did.

It was not high LTV products that caused the problem. It was the complete disregard to assessing risk and requiring documentation of income and assets.

I believe that for many first-time buyers, that sometime in the next 2, 3 or 4 years it will make perfect sense again for them to purchase with 5% down, assuming conservative DTI ratios and real jobs.

[(former)FormerSanDiegan]

So let me get this straight, you are now advocating the use of high ltv loans as affordibility products again???? Is that not what got the market into the mess it is right now?

Actually, these products were available in the mid-90’s bottom as well. It was not unusual for first-time buyers to purchase with 5% down. It simply required full documentation, conservative debt ratios and payment of PMI. That’s what I did.

It was not high LTV products that caused the problem. It was the complete disregard to assessing risk and requiring documentation of income and assets.

I believe that for many first-time buyers, that sometime in the next 2, 3 or 4 years it will make perfect sense again for them to purchase with 5% down, assuming conservative DTI ratios and real jobs.

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