The boat turns slowly

[ocrenter]

[quote=briansd1]

The peak houses in the Fort Myers area seem to have attracted “wholesome” white families with kids who went bust with the economic crash. Kind of like Temecula Valley. But the bust has been more spectacular in South-West Florida because there are no large metropolitan areas to commute to for jobs.[/quote]

That’s what I thought about the place too. did not seem like a sustainable area given lack of jobs. I wonder what type of jobs the Hispanics have? fixing up unfinished homes? I guess when prices are low enough, folks will come?

[bearishgurl]

[quote=flu]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…[/quote]

Good for you, flu! These appls. tax credits for 2010 are great, aren’t they?

Would love to buy an induction cooktop and a dryer but can’t afford to right now. Maybe the cooktop by the end of the year . . . LOL. They have really come down in price as of late.

[bearishgurl]

[quote=flu]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…[/quote]

Good for you, flu! These appls. tax credits for 2010 are great, aren’t they?

Would love to buy an induction cooktop and a dryer but can’t afford to right now. Maybe the cooktop by the end of the year . . . LOL. They have really come down in price as of late.

[bearishgurl]

[quote=flu]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…[/quote]

Good for you, flu! These appls. tax credits for 2010 are great, aren’t they?

Would love to buy an induction cooktop and a dryer but can’t afford to right now. Maybe the cooktop by the end of the year . . . LOL. They have really come down in price as of late.

[bearishgurl]

[quote=flu]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…[/quote]

Good for you, flu! These appls. tax credits for 2010 are great, aren’t they?

Would love to buy an induction cooktop and a dryer but can’t afford to right now. Maybe the cooktop by the end of the year . . . LOL. They have really come down in price as of late.

[bearishgurl]

[quote=flu]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…[/quote]

Good for you, flu! These appls. tax credits for 2010 are great, aren’t they?

Would love to buy an induction cooktop and a dryer but can’t afford to right now. Maybe the cooktop by the end of the year . . . LOL. They have really come down in price as of late.

[SD Realtor]

Pretty funny that anyone could actually think or imply that govt intervention has been helpful for the housing market. If anything govt intervention has helped setup people for failure and painful foreclosures while coversely manipulating the market and making housing UNAFFORDABLE for those who are better prepared and more well qualified to buy a home.

Good thing our govt is watching our for us.

*********

UCG I meant that it bodes well for buyers. Especially those who have been frustrated the past year. To be clear, as the active/pending ratios grow that will increase supply for buyers and hopefully wear down sellers who are thinking it is 2004 again.

As for the auctions we are seeing alot of signs of froth. Lots of overbidding, much more limited supply actually making it to the block due to loan mods. This has led us to be much much more selective. Our purchase rate as dropped substantially due to the change in the supply, and moreover the active/pending ratios rolling over in the neighborhoods that we would purchase in. So it will not surprise me to see some speculators get squeezed in the next few months as well.

[SD Realtor]

Pretty funny that anyone could actually think or imply that govt intervention has been helpful for the housing market. If anything govt intervention has helped setup people for failure and painful foreclosures while coversely manipulating the market and making housing UNAFFORDABLE for those who are better prepared and more well qualified to buy a home.

Good thing our govt is watching our for us.

*********

UCG I meant that it bodes well for buyers. Especially those who have been frustrated the past year. To be clear, as the active/pending ratios grow that will increase supply for buyers and hopefully wear down sellers who are thinking it is 2004 again.

As for the auctions we are seeing alot of signs of froth. Lots of overbidding, much more limited supply actually making it to the block due to loan mods. This has led us to be much much more selective. Our purchase rate as dropped substantially due to the change in the supply, and moreover the active/pending ratios rolling over in the neighborhoods that we would purchase in. So it will not surprise me to see some speculators get squeezed in the next few months as well.

[SD Realtor]

Pretty funny that anyone could actually think or imply that govt intervention has been helpful for the housing market. If anything govt intervention has helped setup people for failure and painful foreclosures while coversely manipulating the market and making housing UNAFFORDABLE for those who are better prepared and more well qualified to buy a home.

Good thing our govt is watching our for us.

*********

UCG I meant that it bodes well for buyers. Especially those who have been frustrated the past year. To be clear, as the active/pending ratios grow that will increase supply for buyers and hopefully wear down sellers who are thinking it is 2004 again.

As for the auctions we are seeing alot of signs of froth. Lots of overbidding, much more limited supply actually making it to the block due to loan mods. This has led us to be much much more selective. Our purchase rate as dropped substantially due to the change in the supply, and moreover the active/pending ratios rolling over in the neighborhoods that we would purchase in. So it will not surprise me to see some speculators get squeezed in the next few months as well.

[SD Realtor]

Pretty funny that anyone could actually think or imply that govt intervention has been helpful for the housing market. If anything govt intervention has helped setup people for failure and painful foreclosures while coversely manipulating the market and making housing UNAFFORDABLE for those who are better prepared and more well qualified to buy a home.

Good thing our govt is watching our for us.

*********

UCG I meant that it bodes well for buyers. Especially those who have been frustrated the past year. To be clear, as the active/pending ratios grow that will increase supply for buyers and hopefully wear down sellers who are thinking it is 2004 again.

As for the auctions we are seeing alot of signs of froth. Lots of overbidding, much more limited supply actually making it to the block due to loan mods. This has led us to be much much more selective. Our purchase rate as dropped substantially due to the change in the supply, and moreover the active/pending ratios rolling over in the neighborhoods that we would purchase in. So it will not surprise me to see some speculators get squeezed in the next few months as well.

[SD Realtor]

Pretty funny that anyone could actually think or imply that govt intervention has been helpful for the housing market. If anything govt intervention has helped setup people for failure and painful foreclosures while coversely manipulating the market and making housing UNAFFORDABLE for those who are better prepared and more well qualified to buy a home.

Good thing our govt is watching our for us.

*********

UCG I meant that it bodes well for buyers. Especially those who have been frustrated the past year. To be clear, as the active/pending ratios grow that will increase supply for buyers and hopefully wear down sellers who are thinking it is 2004 again.

As for the auctions we are seeing alot of signs of froth. Lots of overbidding, much more limited supply actually making it to the block due to loan mods. This has led us to be much much more selective. Our purchase rate as dropped substantially due to the change in the supply, and moreover the active/pending ratios rolling over in the neighborhoods that we would purchase in. So it will not surprise me to see some speculators get squeezed in the next few months as well.

[bearishgurl]

[quote=surveyor][quote=andymajumder]The real winners have been people who bought in the late 1990s or 2000-2002 span and were able to refinance to the low rates now.[/quote]

That would describe me, but unfortunately my mortgage broker has just informed me that fannie mae will not let me refi since I have more than four property loans.

/sob[/quote]

This describes me as well, but I don’t presently have enough income to qualify for a refi. Fortunately my (option arm) COFI loan adjusts itself and is currently at 4.541%. It is completely recast once a year and has been/is amortizing very nicely, thank you.

I’m not sure these loan products are available anymore and if not, this is sad. They were very cheap to close and a godsend for responsible borrowers who required a limited-documentation program. I have had a least a half-dozen of these loans in my life and they have all served me well.

For the irresponsible or short-sighted borrower, these loans all ended in foreclosure or “trial mods,” no doubt amounting to a lifetime rent program.

[bearishgurl]

[quote=surveyor][quote=andymajumder]The real winners have been people who bought in the late 1990s or 2000-2002 span and were able to refinance to the low rates now.[/quote]

That would describe me, but unfortunately my mortgage broker has just informed me that fannie mae will not let me refi since I have more than four property loans.

/sob[/quote]

This describes me as well, but I don’t presently have enough income to qualify for a refi. Fortunately my (option arm) COFI loan adjusts itself and is currently at 4.541%. It is completely recast once a year and has been/is amortizing very nicely, thank you.

I’m not sure these loan products are available anymore and if not, this is sad. They were very cheap to close and a godsend for responsible borrowers who required a limited-documentation program. I have had a least a half-dozen of these loans in my life and they have all served me well.

For the irresponsible or short-sighted borrower, these loans all ended in foreclosure or “trial mods,” no doubt amounting to a lifetime rent program.

[bearishgurl]

[quote=surveyor][quote=andymajumder]The real winners have been people who bought in the late 1990s or 2000-2002 span and were able to refinance to the low rates now.[/quote]

That would describe me, but unfortunately my mortgage broker has just informed me that fannie mae will not let me refi since I have more than four property loans.

/sob[/quote]

This describes me as well, but I don’t presently have enough income to qualify for a refi. Fortunately my (option arm) COFI loan adjusts itself and is currently at 4.541%. It is completely recast once a year and has been/is amortizing very nicely, thank you.

I’m not sure these loan products are available anymore and if not, this is sad. They were very cheap to close and a godsend for responsible borrowers who required a limited-documentation program. I have had a least a half-dozen of these loans in my life and they have all served me well.

For the irresponsible or short-sighted borrower, these loans all ended in foreclosure or “trial mods,” no doubt amounting to a lifetime rent program.

[bearishgurl]

[quote=surveyor][quote=andymajumder]The real winners have been people who bought in the late 1990s or 2000-2002 span and were able to refinance to the low rates now.[/quote]

That would describe me, but unfortunately my mortgage broker has just informed me that fannie mae will not let me refi since I have more than four property loans.

/sob[/quote]

This describes me as well, but I don’t presently have enough income to qualify for a refi. Fortunately my (option arm) COFI loan adjusts itself and is currently at 4.541%. It is completely recast once a year and has been/is amortizing very nicely, thank you.

I’m not sure these loan products are available anymore and if not, this is sad. They were very cheap to close and a godsend for responsible borrowers who required a limited-documentation program. I have had a least a half-dozen of these loans in my life and they have all served me well.

For the irresponsible or short-sighted borrower, these loans all ended in foreclosure or “trial mods,” no doubt amounting to a lifetime rent program.

[Author]

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