Great information. Yep, it’s going to get uglier & uglier as the months pass. It’s actually moving quicker than I thought it would. I thought that most of the Banks would try for one more spring-summer selling season at higher prices. As more & more REO’s hit the market at lower & lower prices, people who need to sell will have to compete with them which will start a low price war between the REO’s & private sellers. The buyer will be the winner. Just wait until all of those ARM re-sets peak.
Great information. Yep, it’s going to get uglier & uglier as the months pass. It’s actually moving quicker than I thought it would. I thought that most of the Banks would try for one more spring-summer selling season at higher prices. As more & more REO’s hit the market at lower & lower prices, people who need to sell will have to compete with them which will start a low price war between the REO’s & private sellers. The buyer will be the winner. Just wait until all of those ARM re-sets peak.
This is the point that I think a lot of people still don’t understand about this whole thing and why even if you can afford to buy right now you are still in jeoporday. This will launch a vicious cycle that feeds on it self. As comps get slaughtered, an incresing number of homeowners that might have otherwise weathered the storm will get dragged into this mess. It will stretch back into earlier layers of homeowners as the comps go down.
This is the point that I think a lot of people still don’t understand about this whole thing and why even if you can afford to buy right now you are still in jeoporday. This will launch a vicious cycle that feeds on it self. As comps get slaughtered, an incresing number of homeowners that might have otherwise weathered the storm will get dragged into this mess. It will stretch back into earlier layers of homeowners as the comps go down.
Very true indeed. I expect a bloodbath in the next couple of year.
Another thing is that homeowners are adjusting to paying fully amortized mortgages without prospects of appreciation. People aren’t going to buy unless they can see subtantial appreciation in a 5 year time frame. They panic if prices decline within 1 year of ownership.
i’ll bookmark this thread and come back to it in a couple of years. We shall see….
Very true indeed. I expect a bloodbath in the next couple of year.
Another thing is that homeowners are adjusting to paying fully amortized mortgages without prospects of appreciation. People aren’t going to buy unless they can see subtantial appreciation in a 5 year time frame. They panic if prices decline within 1 year of ownership.
i’ll bookmark this thread and come back to it in a couple of years. We shall see….
Mortage payment is due today to avoid penalty.
How many will send in that check,plus HOA,plus Mello Roos?
Ouch !!!
Taxes are due Nov 1st.Will they make it
Mortage payment is due today to avoid penalty.
How many will send in that check,plus HOA,plus Mello Roos?
Ouch !!!
Taxes are due Nov 1st.Will they make it
yes alex, I guess we should stick with the MSM since their track record has been so good. Integrity in reporting…who needs it right? Certainly not the sheeple.
yes alex, I guess we should stick with the MSM since their track record has been so good. Integrity in reporting…who needs it right? Certainly not the sheeple.
Usually real estate cycles unwind slowly, but in this case there may be a “tipping point” as the REOs and unsold builder inventory pile up. If that happens, the 50% hit prediction may very well be realized.
Usually real estate cycles unwind slowly, but in this case there may be a “tipping point” as the REOs and unsold builder inventory pile up. If that happens, the 50% hit prediction may very well be realized.
