UT: County housing market strengthening

[pencilneck]

http://www.signonsandiego.com/news/2010/apr/12/housing-rebound-picks-some-speed/

Good snip:
Rich Toscano, a real estate market watcher at Pacific Capital Associates, said another measurement of price changes, cost per square foot, rose about 5 percent from February to March, double the median increase of 2.5 percent. He said that indicates a rise in value.

“I have a feeling that we are in a recovery of sorts,” Toscano said. But, he cautioned, “I definitely have concerns about the sustainability of the recovery.”

Most worrisome to Toscano and others is the outlook for interest rates. Last week, the Mortgage Bankers Association reported an average rate for 30-year fixed-rate mortgages of 5.31 percent, up from 5.04 percent the week before. Some economists believe that rate could reach 6 percent by the year’s end.

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

[briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.

[briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.

[briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.

[briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.

[briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.

[waiting hawk]

[quote=briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.[/quote]

I have been hoping for 10% rates plus since 2006. Still waiting but the lower taxes and higher downpayment is what i really wanted because I could always refinance later when it drops to an avg 6-8%. Who knows anymore what the rates will be later this year. That was one thing I was never close on.

[waiting hawk]

[quote=briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.[/quote]

I have been hoping for 10% rates plus since 2006. Still waiting but the lower taxes and higher downpayment is what i really wanted because I could always refinance later when it drops to an avg 6-8%. Who knows anymore what the rates will be later this year. That was one thing I was never close on.

[waiting hawk]

[quote=briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.[/quote]

I have been hoping for 10% rates plus since 2006. Still waiting but the lower taxes and higher downpayment is what i really wanted because I could always refinance later when it drops to an avg 6-8%. Who knows anymore what the rates will be later this year. That was one thing I was never close on.

[waiting hawk]

[quote=briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.[/quote]

I have been hoping for 10% rates plus since 2006. Still waiting but the lower taxes and higher downpayment is what i really wanted because I could always refinance later when it drops to an avg 6-8%. Who knows anymore what the rates will be later this year. That was one thing I was never close on.

[waiting hawk]

[quote=briansd1]

“I have a feeling that we are in a recovery of sorts,” Toscano said.

Just in time before the elections… How serendipitous 😉

Would-be homebuyers have to decide whether it’s worth hoping for lower prices, when higher rates could eliminate any savings on the monthly payment.

Assuming higher interested rates cancel out lower prices, you still are left with lower downpayment and lower property taxes.[/quote]

I have been hoping for 10% rates plus since 2006. Still waiting but the lower taxes and higher downpayment is what i really wanted because I could always refinance later when it drops to an avg 6-8%. Who knows anymore what the rates will be later this year. That was one thing I was never close on.

[Jim Jones]

Can anyone validate my statement below?

Rising interest rates will lower the sale price of the property at the same time lowering the applicable property taxes. Some of this gain will be lost to the increased costs of borrowing. Those with cash available can make large down payments on a house with a lower purchase price stand to gain not only from that but lower borrowing costs associated with a reduced loan amount. Higher interest rates will lower the pool of potential borrows as risk becomes more of a factor for the loan originator increasing the negotiating power of the buyer at the same time lowering demand for homes currently on the market placing further downward pressure on asking prices.

If this is true will rising interest rates convince the small number of responsible savers to enter the market?

[Jim Jones]

Can anyone validate my statement below?

Rising interest rates will lower the sale price of the property at the same time lowering the applicable property taxes. Some of this gain will be lost to the increased costs of borrowing. Those with cash available can make large down payments on a house with a lower purchase price stand to gain not only from that but lower borrowing costs associated with a reduced loan amount. Higher interest rates will lower the pool of potential borrows as risk becomes more of a factor for the loan originator increasing the negotiating power of the buyer at the same time lowering demand for homes currently on the market placing further downward pressure on asking prices.

If this is true will rising interest rates convince the small number of responsible savers to enter the market?

[Jim Jones]

Can anyone validate my statement below?

Rising interest rates will lower the sale price of the property at the same time lowering the applicable property taxes. Some of this gain will be lost to the increased costs of borrowing. Those with cash available can make large down payments on a house with a lower purchase price stand to gain not only from that but lower borrowing costs associated with a reduced loan amount. Higher interest rates will lower the pool of potential borrows as risk becomes more of a factor for the loan originator increasing the negotiating power of the buyer at the same time lowering demand for homes currently on the market placing further downward pressure on asking prices.

If this is true will rising interest rates convince the small number of responsible savers to enter the market?

[Jim Jones]

Can anyone validate my statement below?

Rising interest rates will lower the sale price of the property at the same time lowering the applicable property taxes. Some of this gain will be lost to the increased costs of borrowing. Those with cash available can make large down payments on a house with a lower purchase price stand to gain not only from that but lower borrowing costs associated with a reduced loan amount. Higher interest rates will lower the pool of potential borrows as risk becomes more of a factor for the loan originator increasing the negotiating power of the buyer at the same time lowering demand for homes currently on the market placing further downward pressure on asking prices.

If this is true will rising interest rates convince the small number of responsible savers to enter the market?

[Author]

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