Knife catchers jump in

[Bugs]

During the last bust we had (I believe) 3 mini- rallies between peak to trough. I can see no reason to believe this is anything other than another pause on the way down the hill.

We have a lot of forced-sale inventory coming yet and the pace of sales hasn’t increased so much as to mitigate that trend. We still have a gross oversupply and we’re still losing mortgage-quality employment.

I’m sure it will eventually turn around, but not yet.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[peterb]

What the rate on these sweet loans?

[peterb]

What the rate on these sweet loans?

[peterb]

What the rate on these sweet loans?

[peterb]

What the rate on these sweet loans?

[peterb]

What the rate on these sweet loans?

[Nor-LA-SD-guy]

Admitted knife catcher here,

But got in at about a 2002 price level in Temecula Valley so not worried about it really (I have never held a home less than ten years anyway), I bought in 1992 as well (same deal) held for twelve years and tripled my money when I sold at the end of 2004 (had to live somewhere anyway)

Still have a little gun power left if Coastal SD comes in a range that I would be willing to pay, but to tell the truth starting to lose faith that Coastal SD will go too much lower.

But here’s to hoping.

Good luck to all

[Nor-LA-SD-guy]

Admitted knife catcher here,

But got in at about a 2002 price level in Temecula Valley so not worried about it really (I have never held a home less than ten years anyway), I bought in 1992 as well (same deal) held for twelve years and tripled my money when I sold at the end of 2004 (had to live somewhere anyway)

Still have a little gun power left if Coastal SD comes in a range that I would be willing to pay, but to tell the truth starting to lose faith that Coastal SD will go too much lower.

But here’s to hoping.

Good luck to all

[Nor-LA-SD-guy]

Admitted knife catcher here,

But got in at about a 2002 price level in Temecula Valley so not worried about it really (I have never held a home less than ten years anyway), I bought in 1992 as well (same deal) held for twelve years and tripled my money when I sold at the end of 2004 (had to live somewhere anyway)

Still have a little gun power left if Coastal SD comes in a range that I would be willing to pay, but to tell the truth starting to lose faith that Coastal SD will go too much lower.

But here’s to hoping.

Good luck to all

[Nor-LA-SD-guy]

Admitted knife catcher here,

But got in at about a 2002 price level in Temecula Valley so not worried about it really (I have never held a home less than ten years anyway), I bought in 1992 as well (same deal) held for twelve years and tripled my money when I sold at the end of 2004 (had to live somewhere anyway)

Still have a little gun power left if Coastal SD comes in a range that I would be willing to pay, but to tell the truth starting to lose faith that Coastal SD will go too much lower.

But here’s to hoping.

Good luck to all

[Author]

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