[CA renter]

I agree with everyone above. Forget interest rates. Monthly payments, relative to income, are near historic highs. Higher interest rates do NOT mean higher monthly payments. The idiots who claim this consistently “forget” to note that prices will come down to balance the higher rates, especially when we are *entering* what is likely to be a severe recession. People cannot afford their current monthly payments, which is why we’re seeing all the foreclosures right now.

Buy when prices are low, rates are high, and monthly payments are near lows, relative to income.

Lower rates and loose lending go hand-in-hand. That’s when the buyer pool is large, and more people are willing to stretch their monthly budget to beat out other buyers.

Higher rates mean we’re probably seeing tighter lending standards (less money to lend / money is more valuable). The buyer pool will be smaller, with fewer people competing to buy, likely leading to lower monthly payments. These more qualified buyers will also be more thrifty and value their own money more, so they will not want to stretch their budgets.

The idea that you can always refi to a lower rate is true ONLY IF rates go down during the term of your loan. That may or may not happen. Doesn’t matter, because you have a lower price which can be paid off earlier; higher rate, so more can be written off on taxes; and when you buy low, it’s more likely you’ll see appreciation — in case you have to/want to sell before your mortgage is paid off.

ALWAYS buy low, sell high…always.

[CA renter]

I think TG is right on the money.

Offload that pig just as fast as you can, before the divorce settlement. That way, you know for a fact what you are working with. Maybe using one of our Realtors here would be good, as they know what’s going on and would probably be able to sell it quickly — as long as you cooperated with them

As an aside, both of my parents passed away last year within 2 1/2 weeks of each other. They were divorced, and I had to deal with handling all the affairs by myself. I needed to sell to pay other beneficiaries and just close everything out. Everything (four properties) was sold, w/ closed escrows, within 60 days, though one piece of raw land was in escrow for many months due to easement/survey work.

All this, right in the middle of the “credit crisis” in August/September. I had to instruct our realtor on what to do because she was still uninformed about what was going on in the credit/mortgage markets. I actually forced her to price low, and lower the price in big chunks just in the first couple of weeks.

Neighbors were pi$$ed at me for “ruining comps” and “giving the houses away” because I priced aggressively (about 30% below peak). A house next door to my mom’s just came on the market the other week — 19% less than my already “discounted” sales price.

IOW, if you want to sell, SELL! That means you have to know the market, and price it aggressively!!!

If you don’t have kids, I can’t think of a single reason to hold onto a house that would strain your finances as a single man. Besides, if you hook up with another woman at some point in the future, she might not like your wife’s “ghost” in the house and you might not be able to sell it then.

Whatever you do, good luck to you!!! At least you don’t have any kids. That’s the worst part of a divorce, IMHO.

[CA renter]

I think TG is right on the money.

Offload that pig just as fast as you can, before the divorce settlement. That way, you know for a fact what you are working with. Maybe using one of our Realtors here would be good, as they know what’s going on and would probably be able to sell it quickly — as long as you cooperated with them

As an aside, both of my parents passed away last year within 2 1/2 weeks of each other. They were divorced, and I had to deal with handling all the affairs by myself. I needed to sell to pay other beneficiaries and just close everything out. Everything (four properties) was sold, w/ closed escrows, within 60 days, though one piece of raw land was in escrow for many months due to easement/survey work.

All this, right in the middle of the “credit crisis” in August/September. I had to instruct our realtor on what to do because she was still uninformed about what was going on in the credit/mortgage markets. I actually forced her to price low, and lower the price in big chunks just in the first couple of weeks.

Neighbors were pi$$ed at me for “ruining comps” and “giving the houses away” because I priced aggressively (about 30% below peak). A house next door to my mom’s just came on the market the other week — 19% less than my already “discounted” sales price.

IOW, if you want to sell, SELL! That means you have to know the market, and price it aggressively!!!

If you don’t have kids, I can’t think of a single reason to hold onto a house that would strain your finances as a single man. Besides, if you hook up with another woman at some point in the future, she might not like your wife’s “ghost” in the house and you might not be able to sell it then.

Whatever you do, good luck to you!!! At least you don’t have any kids. That’s the worst part of a divorce, IMHO.

[CA renter]

I think TG is right on the money.

Offload that pig just as fast as you can, before the divorce settlement. That way, you know for a fact what you are working with. Maybe using one of our Realtors here would be good, as they know what’s going on and would probably be able to sell it quickly — as long as you cooperated with them

As an aside, both of my parents passed away last year within 2 1/2 weeks of each other. They were divorced, and I had to deal with handling all the affairs by myself. I needed to sell to pay other beneficiaries and just close everything out. Everything (four properties) was sold, w/ closed escrows, within 60 days, though one piece of raw land was in escrow for many months due to easement/survey work.

All this, right in the middle of the “credit crisis” in August/September. I had to instruct our realtor on what to do because she was still uninformed about what was going on in the credit/mortgage markets. I actually forced her to price low, and lower the price in big chunks just in the first couple of weeks.

Neighbors were pi$$ed at me for “ruining comps” and “giving the houses away” because I priced aggressively (about 30% below peak). A house next door to my mom’s just came on the market the other week — 19% less than my already “discounted” sales price.

IOW, if you want to sell, SELL! That means you have to know the market, and price it aggressively!!!

If you don’t have kids, I can’t think of a single reason to hold onto a house that would strain your finances as a single man. Besides, if you hook up with another woman at some point in the future, she might not like your wife’s “ghost” in the house and you might not be able to sell it then.

Whatever you do, good luck to you!!! At least you don’t have any kids. That’s the worst part of a divorce, IMHO.

[CA renter]

I think TG is right on the money.

Offload that pig just as fast as you can, before the divorce settlement. That way, you know for a fact what you are working with. Maybe using one of our Realtors here would be good, as they know what’s going on and would probably be able to sell it quickly — as long as you cooperated with them

As an aside, both of my parents passed away last year within 2 1/2 weeks of each other. They were divorced, and I had to deal with handling all the affairs by myself. I needed to sell to pay other beneficiaries and just close everything out. Everything (four properties) was sold, w/ closed escrows, within 60 days, though one piece of raw land was in escrow for many months due to easement/survey work.

All this, right in the middle of the “credit crisis” in August/September. I had to instruct our realtor on what to do because she was still uninformed about what was going on in the credit/mortgage markets. I actually forced her to price low, and lower the price in big chunks just in the first couple of weeks.

Neighbors were pi$$ed at me for “ruining comps” and “giving the houses away” because I priced aggressively (about 30% below peak). A house next door to my mom’s just came on the market the other week — 19% less than my already “discounted” sales price.

IOW, if you want to sell, SELL! That means you have to know the market, and price it aggressively!!!

If you don’t have kids, I can’t think of a single reason to hold onto a house that would strain your finances as a single man. Besides, if you hook up with another woman at some point in the future, she might not like your wife’s “ghost” in the house and you might not be able to sell it then.

Whatever you do, good luck to you!!! At least you don’t have any kids. That’s the worst part of a divorce, IMHO.

[CA renter]

I think TG is right on the money.

Offload that pig just as fast as you can, before the divorce settlement. That way, you know for a fact what you are working with. Maybe using one of our Realtors here would be good, as they know what’s going on and would probably be able to sell it quickly — as long as you cooperated with them

As an aside, both of my parents passed away last year within 2 1/2 weeks of each other. They were divorced, and I had to deal with handling all the affairs by myself. I needed to sell to pay other beneficiaries and just close everything out. Everything (four properties) was sold, w/ closed escrows, within 60 days, though one piece of raw land was in escrow for many months due to easement/survey work.

All this, right in the middle of the “credit crisis” in August/September. I had to instruct our realtor on what to do because she was still uninformed about what was going on in the credit/mortgage markets. I actually forced her to price low, and lower the price in big chunks just in the first couple of weeks.

Neighbors were pi$$ed at me for “ruining comps” and “giving the houses away” because I priced aggressively (about 30% below peak). A house next door to my mom’s just came on the market the other week — 19% less than my already “discounted” sales price.

IOW, if you want to sell, SELL! That means you have to know the market, and price it aggressively!!!

If you don’t have kids, I can’t think of a single reason to hold onto a house that would strain your finances as a single man. Besides, if you hook up with another woman at some point in the future, she might not like your wife’s “ghost” in the house and you might not be able to sell it then.

Whatever you do, good luck to you!!! At least you don’t have any kids. That’s the worst part of a divorce, IMHO.

[CA renter]

Allan,

I agree 100% with you on the inflation/stagflation scenario since the 70s.

The corporations have had decades of third-world costs (off-shore wage slaves) and first-world revenues (American consumers who’ve supplemented thier declining, real income with increasing debt for consumption purposes). That can only last for so long…

[CA renter]

Allan,

I agree 100% with you on the inflation/stagflation scenario since the 70s.

The corporations have had decades of third-world costs (off-shore wage slaves) and first-world revenues (American consumers who’ve supplemented thier declining, real income with increasing debt for consumption purposes). That can only last for so long…

[CA renter]

Allan,

I agree 100% with you on the inflation/stagflation scenario since the 70s.

The corporations have had decades of third-world costs (off-shore wage slaves) and first-world revenues (American consumers who’ve supplemented thier declining, real income with increasing debt for consumption purposes). That can only last for so long…

[CA renter]

Allan,

I agree 100% with you on the inflation/stagflation scenario since the 70s.

The corporations have had decades of third-world costs (off-shore wage slaves) and first-world revenues (American consumers who’ve supplemented thier declining, real income with increasing debt for consumption purposes). That can only last for so long…

[CA renter]

Allan,

I agree 100% with you on the inflation/stagflation scenario since the 70s.

The corporations have had decades of third-world costs (off-shore wage slaves) and first-world revenues (American consumers who’ve supplemented thier declining, real income with increasing debt for consumption purposes). That can only last for so long…

[CA renter]

“In God we trust, everybody else bring data”
————

Though the first bubble observations in the housing market were anecdotal.

One anecdote doesn’t necessarily mean anything, but if many people see the same things over a larger population/region, then it’s fair to look further into the possible causes.

We have seen some significant recessionary indicators in LA and, to a lesser extent, in SD (which is not what I expected, as LA’s housing downturn came well after ours).

I’m hearing from a number of people that business is down, lots of people going into foreclosure or struggling with bills. All is not well under the surface, but I’ll admit the mall traffic is surprisingly high.

[CA renter]

“In God we trust, everybody else bring data”
————

Though the first bubble observations in the housing market were anecdotal.

One anecdote doesn’t necessarily mean anything, but if many people see the same things over a larger population/region, then it’s fair to look further into the possible causes.

We have seen some significant recessionary indicators in LA and, to a lesser extent, in SD (which is not what I expected, as LA’s housing downturn came well after ours).

I’m hearing from a number of people that business is down, lots of people going into foreclosure or struggling with bills. All is not well under the surface, but I’ll admit the mall traffic is surprisingly high.

[CA renter]

“In God we trust, everybody else bring data”
————

Though the first bubble observations in the housing market were anecdotal.

One anecdote doesn’t necessarily mean anything, but if many people see the same things over a larger population/region, then it’s fair to look further into the possible causes.

We have seen some significant recessionary indicators in LA and, to a lesser extent, in SD (which is not what I expected, as LA’s housing downturn came well after ours).

I’m hearing from a number of people that business is down, lots of people going into foreclosure or struggling with bills. All is not well under the surface, but I’ll admit the mall traffic is surprisingly high.

[CA renter]

“In God we trust, everybody else bring data”
————

Though the first bubble observations in the housing market were anecdotal.

One anecdote doesn’t necessarily mean anything, but if many people see the same things over a larger population/region, then it’s fair to look further into the possible causes.

We have seen some significant recessionary indicators in LA and, to a lesser extent, in SD (which is not what I expected, as LA’s housing downturn came well after ours).

I’m hearing from a number of people that business is down, lots of people going into foreclosure or struggling with bills. All is not well under the surface, but I’ll admit the mall traffic is surprisingly high.

[Author]

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