Forum Replies Created
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Arraya
ParticipantI 100% agree with you. Specifically, tract homes you could not legitamately swing 10%.
ParticipantI’d say an appraiser “shouldn’t” not “wouldn’t”
ParticipantI’d say an appraiser “shouldn’t” not “wouldn’t”
ParticipantGetting close to the 4.6 SD R. We are at 4.8 today!
ParticipantGetting close to the 4.6 SD R. We are at 4.8 today!
ParticipantThe lender would base LTV off of the value of the appraisal. Appraisers are not in the business of valuing furniture. So I am pretty sure the appriaser would value the home at 1M if that was the agreed upon price. A lender would not accept an appraisal if it said the house is worth 900K and the furniture 100K.
ParticipantThe lender would base LTV off of the value of the appraisal. Appraisers are not in the business of valuing furniture. So I am pretty sure the appriaser would value the home at 1M if that was the agreed upon price. A lender would not accept an appraisal if it said the house is worth 900K and the furniture 100K.
ParticipantYou need to get a little more familar with this site I think…
Nobody here would advise buying property here for quite some time.
ParticipantYou need to get a little more familar with this site I think…
Nobody here would advise buying property here for quite some time.
ParticipantFunny, I mentioned the RE market problems to a freinds father and he laughed at me and thought that it was completely ridiculous.
A very well to do lawyer, so you would think he would have a little business savy.
We have a long way to go before it enters the “average joe’s” psyche…
ParticipantFunny, I mentioned the RE market problems to a freinds father and he laughed at me and thought that it was completely ridiculous.
A very well to do lawyer, so you would think he would have a little business savy.
We have a long way to go before it enters the “average joe’s” psyche…
ParticipantThat data I’ve looked at in the past i.e median home/median income it’s no more than 20% so more. Think I’ll look that up now…
ParticipantThat data I’ve looked at in the past i.e median home/median income it’s no more than 20% so more. Think I’ll look that up now…
ParticipantI do not SD is immune to that but to what degree?
I agree on the San Fran, NYC argument. Something gets ingrained in the pysche of specific areas which causes them to pay perverted prices for there homes and a larger portion of their income for the mtg payments.
Also, I think that should lead to a detailed analysis of the economics of the individual areas. I don’t think median income is all it’s cracked up to be as in median home price.
I’ve been to SF/NYC on mulitple occasions and it just feels like there is a lot more money than SD not just the 15-20% more median income. Don’t have specifics but if memeory serves it was no that much more than SD… But I could be wrong…
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