The boat turns slowly

[briansd1]

[quote=FormerSanDiegan]

What do you mean by “in essence” ?

Do you mean:
a) nominal 2000 prices ?
b) inflation-adjusted 2000 prices ?
c) Price-to-income ratios at the same level as 2000 ?
d) Price to rent rations at the same level as 2000 ?
e) Some other metric.

[/quote]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.

In terms of a “lost decade” we have to look to Japan.

Prices in central Tokyo stagnated for over a decade whereas prices in the far suburbs crashed.

Prolonged stagnation will bankrupt many folks who got in at the peak. Eventually, wherewithal will wear and they will give up before the market recovers enough to return the purchase price + sunk costs over the years.

[briansd1]

[quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? 😉

[briansd1]

[quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? 😉

[briansd1]

[quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? 😉

[briansd1]

[quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? 😉

[briansd1]

[quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? 😉

[ocrenter]

[quote=briansd1]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
[/quote]

that’s not a bad deal. even empty plots of land is going for around $20k, and there’s no way you can build a house for for $40k. even if you turn around and sell at $80k, that’s still a decent profit.

what is your general turn around time from purchase to flip? and who are the folks buying? snowbirds?

[ocrenter]

[quote=briansd1]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
[/quote]

that’s not a bad deal. even empty plots of land is going for around $20k, and there’s no way you can build a house for for $40k. even if you turn around and sell at $80k, that’s still a decent profit.

what is your general turn around time from purchase to flip? and who are the folks buying? snowbirds?

[ocrenter]

[quote=briansd1]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
[/quote]

that’s not a bad deal. even empty plots of land is going for around $20k, and there’s no way you can build a house for for $40k. even if you turn around and sell at $80k, that’s still a decent profit.

what is your general turn around time from purchase to flip? and who are the folks buying? snowbirds?

[ocrenter]

[quote=briansd1]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
[/quote]

that’s not a bad deal. even empty plots of land is going for around $20k, and there’s no way you can build a house for for $40k. even if you turn around and sell at $80k, that’s still a decent profit.

what is your general turn around time from purchase to flip? and who are the folks buying? snowbirds?

[ocrenter]

[quote=briansd1]

It all depends on the area. In some areas, nominal Year 2000 prices have already returned. In other areas, buyers will have to do with inflation adjusted prices.

Take a look at this in Florida house:
http://www.auction.com/Florida/residential-auction-asset/1200658-684-1818-Nw-6th-Ave-CAPE-CORAL-FL-33993.html

My brother and I, and a buddy have been buying houses in the Fort Myers area for $40k – $50k and flipping them. The buddy’s wife is a Realtor with connections to banks.
[/quote]

that’s not a bad deal. even empty plots of land is going for around $20k, and there’s no way you can build a house for for $40k. even if you turn around and sell at $80k, that’s still a decent profit.

what is your general turn around time from purchase to flip? and who are the folks buying? snowbirds?

[Coronita]

[quote=briansd1][quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? ;)[/quote]

Not really, since it’s already affordable for me….And I prefer no bailout versus bailout for the masses.

BUT, if the government is going to tax me up the ying yang in the future doing it, I might as well milk as much as I get coming my way too, because afterall, morale hazard is so out of vogue.

I only regret I didn’t do what one of my relatives did. Buy very expensive place in SF and took out an interest only loan with a ridiculous rate….Not that they can’t afford it….But they got a ridiculous rate and the money they have to theoretically pay off the place is sitting in some nice investments earning 1-2 percent above the APR of their mortgage….

I just replaced several of my appliances for the cash for appliances rebate too. Got a nice fridge with 3 doors and it’s pretty sweet…Lol…

Can’t beat em… Join em… Spend spend spend spend spend. LA LA LA LA LA LA LA LA LA…..

[Coronita]

[quote=briansd1][quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? ;)[/quote]

Not really, since it’s already affordable for me….And I prefer no bailout versus bailout for the masses.

BUT, if the government is going to tax me up the ying yang in the future doing it, I might as well milk as much as I get coming my way too, because afterall, morale hazard is so out of vogue.

I only regret I didn’t do what one of my relatives did. Buy very expensive place in SF and took out an interest only loan with a ridiculous rate….Not that they can’t afford it….But they got a ridiculous rate and the money they have to theoretically pay off the place is sitting in some nice investments earning 1-2 percent above the APR of their mortgage….

I just replaced several of my appliances for the cash for appliances rebate too. Got a nice fridge with 3 doors and it’s pretty sweet…Lol…

Can’t beat em… Join em… Spend spend spend spend spend. LA LA LA LA LA LA LA LA LA…..

[Coronita]

[quote=briansd1][quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? ;)[/quote]

Not really, since it’s already affordable for me….And I prefer no bailout versus bailout for the masses.

BUT, if the government is going to tax me up the ying yang in the future doing it, I might as well milk as much as I get coming my way too, because afterall, morale hazard is so out of vogue.

I only regret I didn’t do what one of my relatives did. Buy very expensive place in SF and took out an interest only loan with a ridiculous rate….Not that they can’t afford it….But they got a ridiculous rate and the money they have to theoretically pay off the place is sitting in some nice investments earning 1-2 percent above the APR of their mortgage….

I just replaced several of my appliances for the cash for appliances rebate too. Got a nice fridge with 3 doors and it’s pretty sweet…Lol…

Can’t beat em… Join em… Spend spend spend spend spend. LA LA LA LA LA LA LA LA LA…..

[Coronita]

[quote=briansd1][quote=flu]Still waiting for my 3.00% apr on a 15 year loan….
(I’ll settle for a 15 year loan instead of 30 now..))[/quote]

Isn’t it nice that government intervention makes your purchase price more palatable? ;)[/quote]

Not really, since it’s already affordable for me….And I prefer no bailout versus bailout for the masses.

BUT, if the government is going to tax me up the ying yang in the future doing it, I might as well milk as much as I get coming my way too, because afterall, morale hazard is so out of vogue.

I only regret I didn’t do what one of my relatives did. Buy very expensive place in SF and took out an interest only loan with a ridiculous rate….Not that they can’t afford it….But they got a ridiculous rate and the money they have to theoretically pay off the place is sitting in some nice investments earning 1-2 percent above the APR of their mortgage….

I just replaced several of my appliances for the cash for appliances rebate too. Got a nice fridge with 3 doors and it’s pretty sweet…Lol…

Can’t beat em… Join em… Spend spend spend spend spend. LA LA LA LA LA LA LA LA LA…..

[Author]

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