What if it doesn’t collapse?

[HLS]

From the lending standpoint, loans of $417K or less are not difficult to get, and even larger amounts are still available.
America is not going away. Lenders of money are not going to disappear.

Rates are not going insane for those who QUALIFY.
The media will blow this out of proportion, I am sure.

We are just talking about MONEY & wealth. It’s not a terminal disease. Some people will be ruined.

Many people ARE freaking out. They don’t know what to do.
I have refi loans to submit this week, maybe they will fund, maybe they won’t. I’m not stressed. I’ve been through volatile markets before.

I’m off for a couple days in Mexico this week for some R&R and lobster & beer. The world isn’t coming to an end.

It will give some mortgage scumbags a reason to screw people by telling them it’s the best rate they can get.

Desperate times call for desperate measures. A LO that needs money desperately will try and screw people to max out their take on a loan.

Everything to a lender is risk/reward. GSE’s are still backing loans of under $417K

The more you have to put down, the higher your credit score, the easier it will be to get a loan.

There IS money available for loans. There are millions of people who will have no problem, other than reduced net worth.

There will be a period of correction. I don’t see rates exploding as housing prices fall.

(Even IF what you say was to happen, I would rather have someone pay 10% on $300,000 purchase than 6% on $500,000 one.
Either way it’s $30K a year interest, but $300K cost gives you better options. Rates will drop, but your cost won’t change)

Always remember, tough times don’t last, but tough people do.

[JWM in SD]

Yawn. Yes RB, keep hoping that home prices don’t go down. Maybe if you wish upon a star it might come true…Disneyland is only in the next county.

[JWM in SD]

Yawn. Yes RB, keep hoping that home prices don’t go down. Maybe if you wish upon a star it might come true…Disneyland is only in the next county.

[JWM in SD]

Yawn. Yes RB, keep hoping that home prices don’t go down. Maybe if you wish upon a star it might come true…Disneyland is only in the next county.

[no_such_reality]

Rates are not going insane for those who QUALIFY.

And how did this reduce the qualifying pool by?

The more you have to put down, the higher your credit score, the easier it will be to get a loan.

What percentage of the population has $100,000 to put down?

[no_such_reality]

Rates are not going insane for those who QUALIFY.

And how did this reduce the qualifying pool by?

The more you have to put down, the higher your credit score, the easier it will be to get a loan.

What percentage of the population has $100,000 to put down?

[no_such_reality]

Rates are not going insane for those who QUALIFY.

And how did this reduce the qualifying pool by?

The more you have to put down, the higher your credit score, the easier it will be to get a loan.

What percentage of the population has $100,000 to put down?

[SD Realtor]

The main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.

SD Realtor

[SD Realtor]

The main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.

SD Realtor

[SD Realtor]

The main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.

SD Realtor

[HereWeGo]

SDR –
Let us know if you see any shifts in demand in the coming weeks. This massive tightening is really only days old at this point.

[HereWeGo]

SDR –
Let us know if you see any shifts in demand in the coming weeks. This massive tightening is really only days old at this point.

[HereWeGo]

SDR –
Let us know if you see any shifts in demand in the coming weeks. This massive tightening is really only days old at this point.

[SD Realtor]

Will do HWG…

As a side note, the monitor that I post (Scripps and a few other zips) as well as the sdr Carmel Valley Monitor all have enough stats in them for some nice analysis. It is simply a matter of somebody taking the raw data and plotting it out. You can get great active pending ratio’s and other stuff that when read weekly is not much to look at but when plotted over several months will yield really useful information.

As a second side note yesterday I was showing homes to a client in Clairemont. Lots of well attended open houses. I peeked at 4 different logs from homes we visited and the numbers 8, 11, 12, and 11 which is not bad for an open house. How serious those people were is another story. Also the two open houses on Reisling near my home in Scripps seemed to have more activity then usual. However I have no clue about the quality of the activity.

SD Realtor

[SD Realtor]

Will do HWG…

As a side note, the monitor that I post (Scripps and a few other zips) as well as the sdr Carmel Valley Monitor all have enough stats in them for some nice analysis. It is simply a matter of somebody taking the raw data and plotting it out. You can get great active pending ratio’s and other stuff that when read weekly is not much to look at but when plotted over several months will yield really useful information.

As a second side note yesterday I was showing homes to a client in Clairemont. Lots of well attended open houses. I peeked at 4 different logs from homes we visited and the numbers 8, 11, 12, and 11 which is not bad for an open house. How serious those people were is another story. Also the two open houses on Reisling near my home in Scripps seemed to have more activity then usual. However I have no clue about the quality of the activity.

SD Realtor

[Author]

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