The Tipping Point Is Here

[NotCranky]

I think that you probably hit a home run with the possibility that when you go to run the bases they are gone and you realize that the game is now football and you are sitting up in the stands. Might as well get a beer(or soda).

[bsrsharma]

For me the tipping point happened this morning. Heard lots of street noises and turned the blinds. My neighbor across the street was having a giant garage sale. They have the house on market for over 7 months now. Lot of lookers but no biters. I know there are many distressed properties on the street. I could add two and two together and see what is happening. This is probably going to be a REO closest to my home. It feels a little different when it is so close.

[bsrsharma]

For me the tipping point happened this morning. Heard lots of street noises and turned the blinds. My neighbor across the street was having a giant garage sale. They have the house on market for over 7 months now. Lot of lookers but no biters. I know there are many distressed properties on the street. I could add two and two together and see what is happening. This is probably going to be a REO closest to my home. It feels a little different when it is so close.

[bsrsharma]

For me the tipping point happened this morning. Heard lots of street noises and turned the blinds. My neighbor across the street was having a giant garage sale. They have the house on market for over 7 months now. Lot of lookers but no biters. I know there are many distressed properties on the street. I could add two and two together and see what is happening. This is probably going to be a REO closest to my home. It feels a little different when it is so close.

[temeculaguy]

Enorah, next time you get a hunch like this try to channel it into lottery numbers and give me a call. Your hunch was right and read back over some of the other hunches, some of them were accurate to the point of beeing spooky, I think some of you are playing with tarot cards.

[temeculaguy]

Enorah, next time you get a hunch like this try to channel it into lottery numbers and give me a call. Your hunch was right and read back over some of the other hunches, some of them were accurate to the point of beeing spooky, I think some of you are playing with tarot cards.

[temeculaguy]

Enorah, next time you get a hunch like this try to channel it into lottery numbers and give me a call. Your hunch was right and read back over some of the other hunches, some of them were accurate to the point of beeing spooky, I think some of you are playing with tarot cards.

[CostaMesa]

I’d be remiss if I didn’t admit that this thread has popped into my mind more than a couple times over the last couple weeks.

[CostaMesa]

I’d be remiss if I didn’t admit that this thread has popped into my mind more than a couple times over the last couple weeks.

[CostaMesa]

I’d be remiss if I didn’t admit that this thread has popped into my mind more than a couple times over the last couple weeks.

[bsrsharma]

8% to 13% will tip a lot of people!

———————————————————-

In Credit Crisis, Large Mortgages Grow Costly
By FLOYD NORRIS and ERIC DASH
Published: August 12, 2007

When an investment banker set out to buy a $1.5 million home on Long Island last month, his mortgage broker quoted an interest rate of 8 percent. Three days later, when the buyer said he would take the loan, the mortgage banker had bad news: the new rate was 13 percent.

“I have been in the business 20 years and I have never seen” such a big swing in interest rates, said the broker, Bob Moulton, president of the Americana Mortgage Group in Manhasset, N.Y.

“There is a lot of fear in the markets,” he added. “When there is fear, people have a tendency to overreact.”

The investment banker’s problem was that he was taking out a so-called jumbo mortgage – a loan greater than the $417,000 mortgage that can be sold to the federally chartered enterprises, Freddie Mac and Fannie Mae. The market for large mortgages has suddenly dried up…..

[bsrsharma]

8% to 13% will tip a lot of people!

———————————————————-

In Credit Crisis, Large Mortgages Grow Costly
By FLOYD NORRIS and ERIC DASH
Published: August 12, 2007

When an investment banker set out to buy a $1.5 million home on Long Island last month, his mortgage broker quoted an interest rate of 8 percent. Three days later, when the buyer said he would take the loan, the mortgage banker had bad news: the new rate was 13 percent.

“I have been in the business 20 years and I have never seen” such a big swing in interest rates, said the broker, Bob Moulton, president of the Americana Mortgage Group in Manhasset, N.Y.

“There is a lot of fear in the markets,” he added. “When there is fear, people have a tendency to overreact.”

The investment banker’s problem was that he was taking out a so-called jumbo mortgage – a loan greater than the $417,000 mortgage that can be sold to the federally chartered enterprises, Freddie Mac and Fannie Mae. The market for large mortgages has suddenly dried up…..

[bsrsharma]

8% to 13% will tip a lot of people!

———————————————————-

In Credit Crisis, Large Mortgages Grow Costly
By FLOYD NORRIS and ERIC DASH
Published: August 12, 2007

When an investment banker set out to buy a $1.5 million home on Long Island last month, his mortgage broker quoted an interest rate of 8 percent. Three days later, when the buyer said he would take the loan, the mortgage banker had bad news: the new rate was 13 percent.

“I have been in the business 20 years and I have never seen” such a big swing in interest rates, said the broker, Bob Moulton, president of the Americana Mortgage Group in Manhasset, N.Y.

“There is a lot of fear in the markets,” he added. “When there is fear, people have a tendency to overreact.”

The investment banker’s problem was that he was taking out a so-called jumbo mortgage – a loan greater than the $417,000 mortgage that can be sold to the federally chartered enterprises, Freddie Mac and Fannie Mae. The market for large mortgages has suddenly dried up…..

[Arraya]

Yes the recent change in financing seems to be the final ax chop to the housing market tree. Can you say timber?

[Arraya]

Yes the recent change in financing seems to be the final ax chop to the housing market tree. Can you say timber?

[Author]

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